Difference between revisions of "Financial Statements"
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* The [[Balance Sheet]] or [[Statement of Financial Position]] offers a snapshot of a company's assets and liabilities at a given point in time. | * The [[Balance Sheet]] or [[Statement of Financial Position]] offers a snapshot of a company's assets and liabilities at a given point in time. | ||
| − | * The [[Income Statement | + | * The [[Income Statement]] or '''profit and loss report''' ('''P&L report''') |
* The [[Cash Flow Statement]] reports on an entity's [[Cash Flow]] | * The [[Cash Flow Statement]] reports on an entity's [[Cash Flow]] | ||
* The [[Statement of Comprehensive Income]], or '''statement of revenue & expense''' | * The [[Statement of Comprehensive Income]], or '''statement of revenue & expense''' | ||
Revision as of 14:55, 29 March 2021
Definition
Financial Statements is a collection of disclosures, typically by incorporated legal entities
Common Financial Statements
- The Balance Sheet or Statement of Financial Position offers a snapshot of a company's assets and liabilities at a given point in time.
- The Income Statement or profit and loss report (P&L report)
- The Cash Flow Statement reports on an entity's Cash Flow
- The Statement of Comprehensive Income, or statement of revenue & expense
- The Statement of Changes in Equity or statement of equity, or statement of retained earnings
