The financial statements offer the total monetary data of a business. These financial statements contain the balance sheet, an earnings statement, retained earnings statement and cash flow statement. The balance sheet presents the financial condition in terms of its assets, liabilities and ownership equity. Revenue statements, also known as P & L, give a view of the company’s operation considering that they present the company’s earnings, costs and profits. Retained earnings statements clarify adjustments to retained earnings whilst cash flow statement report on the firm is operating budget, and investing and financing activities. Discover more about monetary statement here.
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