Financial Statements

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Financial statements are prepared and presented for the users to acquire financial information. The financial statements include a balance sheet, a profit and loss account, a trading and manufacturing account and schedules and notes forming part of preparation of balance sheet and profit and loss account. Trial Balance is another form of information provider that helps to prepare financial statements. In some countries prepare a statement of cash flows and the statement of fund flows to show the comparison of financial statements.

Financial Statements Includes the Following

  • Income statement
  • Balance sheet
  • Statement of cash flows

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