Assignment 3: DiscussionFinancial Management TerminologiesIn this assignment, you will explore the financial management terms that will be used throughout the course and will help with personal and professional decision making.Tasks:Please explain in which order the four major financial statements need to be prepared, and why.Please explain the three major categories of the statement of cash flows and under which category the following item belongs. Also explain whether or not the item would be considered a source or use of cash for the period in question:Inventory-increased for periodNet income-increased for periodAccounts receivables increase for periodAccounts payable decrease for periodAccruals decrease for period Depreciation-increases for periodStock issued Property purchasedBonds paid offInventories increase for periodCash decreasesNotes payable increase for periodBonds redeemed for periodYour initial post should be no more than 500 to 750 words. Apply APA standards to citation of sources.Submission Details:By Saturday, July 22, 2016, post your responses to this Discussion Area. Support your assumptions by citing reputable source material used for this discussion in APA format.Write your initial response in 300500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation