Mastering Financial Statements

The purpose of financial statements is to assess a company's financial health and provide valuable information for decision-making.

Balance sheets provide information about a company's 'book' value and tally all of its assets, liabilities, and owners' equity.

Income statements detail how a company made and spent money for a given reporting period.

<p>Cash flow statements offer a look into a company's cash flow from operating, investing, and financing activities.</p> Signup and view all the answers

<p>Annual reports summarize a business's economic activity for the prior year and convey its progress toward initiatives and goals.</p> Signup and view all the answers