There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

Meagan is a former Series 7 financial advisor and current writer focused on blending straightforward information with a dose of humor on topics including equity investments, insurance products, and ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

What Else Do Financial Records Include? Other than the most common line items found in financial statements, investors can also read the lesser known items, such as the footnotes, which often contain ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Katrina Ávila Munichiello is an experienced editor, ...

U.S. law allows for four forms of business organizations: sole proprietorships, partnerships, limited liability companies and corporations. According to Corporate Finance Institute, a sole ...

The way Indian companies present their profit and loss statements is set for a makeover, one that could provide investors with a clearer picture of what’s driving profits and where the money goes. The ...

A written report of the financial condition of a firm. Financial statements include the balance sheet, income statement, statement of changes in net worth and statement of cash flow. The first step in ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.