Question

What Is Accounting Report?

Answer 1

Answer:

Accounting reports are compilations of financial information that are derived from the accounting records of a business. ... These statements include the following reports: Income statement. States the revenues earned during a period, less expenses, to arrive at a profit or loss

Answer 2

Answer:

Accounting reports are periodic statements that present the financial status of a company at a certain point in time, or over a stated time-period. It details the business transactions and operations.

They are a compilation of financial information that infer from a business’ accounting records. Their nature varies, as they can be brief or custom-made with a specific purpose: detailing sales per region, the profitability of a product, etc. Usually, accounting reports are considered to be financial statements which include:

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