QuickBooks financial statements are okay for internal reporting purposes, but they do not meet GAAP standards in many, many ways.  If you have taken Accounting 1 or Accounting Fundamentals, you should have access in your textbook to “real” financial statements.  If you have not taken a formal class, research what GAAP compliant financial statements look like.  You do not have to look at Statement of Cash Flows – just the Balance Sheet, Income Statement and Statement of Shareholder’s Equity.Compare QB statements to GAAP prepared statements and list at least one difference