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Red Robin's Financial Statement

590 Words3 Pages

I decided to choose “Red Robin” as my example.
The financial statements are important to a business because it provides a comprehension into how a company is generating their finances and how all the cost in between are related, how the strengths and leakages are depicted on the financial statements (MURPHY, 2023).
The financial statements are beneficial to owners as it clarifies the company’s financial health and also what the cash flow looks like, to investors it would give a broader picture of what they are or did invest in, therefore Red Robin’s owners and shareholders can be reassured that the company’s financial health is in a good state (Maverick, 2022).
Financial statements are crucial for employees to ensure that they will get paid, therefore ensuring that the finances are in good condition will lead to reassured employees, understanding the company’s capability to pay their wages will have positive effects on the “Red Robin” employees (SOLTIUS, 2023). …show more content…

A financial statement comes at the end of all finances, this also assesses the performance of a company, each different type of financial statement has a purpose (Franklin et al., 2020). This financial statement gathered gives you a better perspective, over a period, to find out if companies are generating a profit or if they are in a loss (Franklin et al., 2020).
There are four types of financial statements that are drawn up, these include, income statements, statements of owner’s equity. Balance sheets and statement of Cash Flows. These statements are meant to be done in the order listed (Franklin et

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