What are Financial Statements?

by Willayat
(Quetta, Pakistan)

Q: What are financial statements?


A:
Remember, a statement is a report.

The financial statements are the most important accounting reports of a business.

Financial statements typically include the income statement, statement of changes in owners equity, balance sheet, cash flow statement, explanatory notes and an auditor's report.

For more information on these, browse the lessons on accounting reports.

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