There is really no benefit in preparing financial statements in any particular order.

Question

Quizplus · Accepted Answer

There is a specific order in which financial statements should be prepared for accurate and effective communication of financial information. The order is usually: (1) Income statement, (2) Statement of retained earnings, (3) Balance sheet, and (4) Statement of cash flows. This order reflects the logical flow of information and helps users of the statements understand the financial health and performance of a company.

There Is Really No Benefit in Preparing Financial Statements in Any