what do you mean by financial statements???
Answers
Explanation:
What Are Financial Statements?
Financial statements are written records that convey the business activities and the financial performance of a company. Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Financial statements include:
Balance sheet
Income statement
Cash flow statement.
KEY TAKEAWAYS
Financial statements are written records that convey the business activities and the financial performance of a company.
The balance sheet provides an overview of assets, liabilities, and stockholders' equity as a snapshot in time.
The income statement primarily focuses on a company’s revenues and expenses during a particular period. Once expenses are subtracted from revenues, the statement produces a company's profit figure called net income.
The cash flow statement (CFS) measures how well a company generates cash to pay its debt obligations, fund its operating expenses, and fund investments.
Hope this helps you....