Three Types of Reports
The three financial statements that are used together to represent a complete picture of a company’s finances are:
The Balance Sheet
The Balance Sheet is one of the most important pieces of financial information issued by a company. It is a snapshot of what a company owns and owes at that point in time.
The Profit and Loss
The Profit and Loss, on the other hand, shows how much revenue and profit a company has generated over a certain period.
The Cash Flow Statement
The cash flow statement describes the inflow and outflow of cash throughout the period.
We will look at each report in the following blog posts.
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