What Are the Purposes of Financial Statements

What is a Financial Statement? A financial statement data is a document that provides an overview of a company’s financial performance. Financial statements are usually composed of three sections: the balance sheet, the income statement, and the cash flow statement. The balance sheet displays all of the assets and liabilities that a company has on its books. The income statement shows how much money a company made or lost over a specific period of time. And finally, the cash flow statement shows how much money came into or went out of the business during that same time period. What ...Read more