Finance Statement Example for analyzing a Financial Report
Financial Statement, which is also known as Financial Report, is a summary report which depicts the use of funds which were entrusted to it by its valued stockholders. It records and represents the financial activities and status of business, person or entity. Financial Statement for business includes three basic financial statements. They are: 1. The Balance Sheet which reflects on the assets of the firm, its liabilities and its net worth on a stated date, typically the last day of the financial year. 2. The Income Statement, or the Profit and Loss Account, which represents the net income and the sources of which the net income has was derived into the firm. 3. The Cash Flow Statement, or the Business Financials, shows the inflow and the outflow of money which is initiated by the activities that took place in the firm. Finance Statement Example illustrates the application of the standard requirements laid by the Government and incorporates the latest amendm...