By Leanna Kelly When a company’s stakeholders want to know how well it’s performing, they look to its financial statements. A financial statement is a report summarizing the written financial records to show the company’s financial performance and position. There are three statements that make up the financial statement: balance sheet, income statement and cash flow statement. Each shows a different aspect of the company’s total finances, and each plays a role in providing context to the overall financial picture of the company.
Financial statements are an integral part of accounting. Not only are they compiled and released quarterly, they’re also notated and …read more
