Group items tagged

Financial statements are the record of variuous financial activities of a business. Various financial information such as financial statements, statement of cash flows, balance sheet and the like are provided in a structured manner. Financial statements are important to check the health of a business. It is important to know your income and expenditures that the business is undergoing through.

Financial statements are the record of variuous financial activities of a business. Various financial information such as financial statements, statement of cash flows, balance sheet and the like are provided in a structured manner. Financial statements are important to check the health of a business. It is important to know your income and expenditures that the business is undergoing through. The outstanding debts and other sources of income are all recorded in the financial statement.  This report provides information on perfomance, changes and financial position of the company which in turn helps to make many decisions.

Profit and Loss statement is an official statement that states a company's total revenues, expenses and net income incurred over a period (monthly, quarterly or yearly).