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.Dis

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. Save your file as “LastnameFirstinitial-ACCT105-3.”Submit your work by midnight ET on Day 7 (Sunday).Note that your attached paper will automatically be submitted to Turnitin, and an Originality Report should be sent back to the classroom within around 15 minutes. The Originality report does not actually recommend changes. It does point out where you may need to add a citation or quotation marks (if not already cited). Once you use it a few times, you will appreciate this tool, as it will assist you in improving quality and content, as well as avoid plagiarism. Your goal is to keep direct quotations to a minimum and to make sure that you do not just cut and paste material. Ensure that all your references are cited. A report with a similarity index less than 25% is acceptable for undergraduate level work. Your paper will be evaluated according to the Writing Assignment Grading shown below. To maximize your grade, be sure to use the proper organization (intro, body, conclusion) and follow APA style. Your paper should have a title page and reference page, but you do not need an abstract for this assignment. See the PowerPoint presentation attached for APA assistance.GuidelinesWriting Assignment Grading CriteriaContent (60%)•Response demonstrates a clear understanding of the key elements of assignment questions.•Response thoroughly covers the elements in a substantive manner.•Response demonstrates critical thinking and analysis.•Content is complete and accurate.•Introduction and conclusion provide adequate information on the given topic.Organization (20%)•Paper structure is clear and easy to follow.•Ideas flow in a logical sequence.•Introduction provides a sound introduction to the topic and previews major points.•Paragraph transitions are logical and support the flow of thought throughout the paper.•The conclusion thoroughly reviews the major points.Writing Style, Grammar, APA Format (20%)•Sentences are well constructed, complete, clear, and concise.•Words used are specific an unambiguous.•The tone is appropriate to the content and assignment.•Grammar, spelling, and punctuation are correct.•APA guidelines (6th edition) are followed, such as headers, citations, references, etc.•Effective use of aids such as sections, summaries, table of contents, indices, and appendices (if appropriate).