Business and finance help: what are three (3) major financial statements?

Business & Finance
Tutor: None Selected Time limit: 1 Day

what are three (3) major financial statements?


Explain what they measure and list three line items that can be
found within the statement.

Why are financial statements important to the business owner?
Dec 13th, 2015

Thank you for the opportunity to help you with your question!

1. income statements-shows all items of incomes and expenses for your business. it reflects a specific time period.

2. balance sheet- shows the progress of a business right from the time it was started to the time the balance sheet was prepared.Balance Sheets are always dated on the late day of the reporting period.

3. statement of cash flows-shows the ins and outs of cash during the reporting period

financial statements are important to a business owner because;

1.they tell you the performance of your business

2. they help a business owner in management

Please let me know if you need any clarification. I'm always happy to answer your questions.
Dec 13th, 2015

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Dec 13th, 2015
May 25th, 2017
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