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List of 6 Financial Documents Every Organization Should Create Profit Loss Statement or Income Statement. Balance Sheet. Cash Flow Statement. Tax Returns. Accounts Receivable/Accounts Payable or Aging Reports. Notes to Accounts or Notes to Financial Statements.
The balance sheet, income statement, and cash flow statement each offer unique details with information that is all interconnected. Together the three statements give a comprehensive portrayal of the companys operating activities.
Balance Sheet: To tell where the company stands in terms of assets and liabilities. Income statement: To explain how different income streams have performed. Cash flow statements: To explain how the actual cash flow is.
The three main types financial statements are the balance sheet, the income statement, and the cash flow statement. These three statements together show the assets and liabilities of a business, its revenues and costs, as well as its cash flows from operating, investing, and financing activities.
List of 6 Financial Documents Every Organization Should Create Profit Loss Statement or Income Statement. Balance Sheet. Cash Flow Statement. Tax Returns. Accounts Receivable/Accounts Payable or Aging Reports. Notes to Accounts or Notes to Financial Statements.
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Examples of financial records include: General account books including general journal and general and subsidiary ledgers. Cash book records including receipts and payments. Banking records including bank and credit card statements, deposit books, cheque butts and bank reconciliations.
Examples of financial records include: General account books including general journal and general and subsidiary ledgers. Cash book records including receipts and payments. Banking records including bank and credit card statements, deposit books, cheque butts and bank reconciliations.
The balance sheet, income statement, and cash flow statement each offer unique details with information that is all interconnected. Together the three statements give a comprehensive portrayal of the companys operating activities.
These include the working capital ratio, the quick ratio, earnings per share (EPS), price-earnings (P/E), debt-to-equity, and return on equity (ROE). Most ratios are best used in combination with others, rather than singly, for a comprehensive picture of company financial health.
At the most detailed level, financial records can include invoices and receipts. At a more aggregated level, financial records include subsidiary ledgers, the general ledger, and the trial balance. At the most aggregated level, they include the income statement, balance sheet, and statement of cash flows.