Financial Statement

Financial statements  (or  financial report ) is a formal record of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management discussion and analysis 1.    A balance sheet or  statement of financial position , reports on a company's assets, liabilities, and owners equityat a given point in time. 2.    An income statement or  statement of comprehensive income ,  statement of revenue & expense ,  P&L  or  profit and loss report , reports on a company's income, expenses, and profits over a period of time. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period. 3.    A Statement of changes in equity or  equity statement  or  statement of retained earnings , repo
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