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What are the 5 main financial statements?

The 5 types of financial statements you need to know Income statement. Arguably the most important. ... Cash flow statement. ... Balance sheet. ... Note to Financial Statements. ... Statement of change in equity.

What two things should be on a personal financial statement?

A personal financial statement is simply a document that shows your assets and liabilities in detail. Usually, it has two sections: a balance sheet section and an income flow section. This statement is split into two main components: assets and liabilities.

What is a personal financial statements?

A personal financial statement is a spreadsheet that details the assets and liabilities of an individual, couple, or business at a specific point in time. Typically, the spreadsheet consists of two columns, with assets listed on the left and liabilities on the right.

What is included in a PFS?

This means any loans and lines of credit, whether for personal, business, or real estate use. You should also include any outstanding credit card balances, both personal and business. Additionally, include all accounts payable.

What is PFS form?

This form is used to assess repayment ability and creditworthiness of applicants for: 7(a) loans. 504 loans.

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