Explain the impact of accounting transactions in financial statements. Describe the elements and purpose of each financial statement.

Financial statements

Write a 500 – 750 word paper that addresses the following topic:

• Explain the impact of accounting transactions in financial statements.
• Describe the elements and purpose of each financial statement.
• Discuss the components and use of financial analysis.

Your paper must be formatted according to APA 6th edition guidelines, and you need to use at least one external reference.