Financial Statements of a Company

Meaning of Financial Statements

Financial statements of a Company are the introductory and formal periodic reports through which the commercial operation communicates fiscal information to its possessors and colorful other external parties which include investors, duty authorities, government, workers, etc. These typically relate to (a) the balance distance ( position statement) at the end of the counting period, and (b) the statement of profit and loss of a. company. Nowadays, the cash inflow statement is also taken as an integral element of the financial statements of a company.

Nature of Financial Statements

The chronologically recorded data about events expressed in financial terms for a defined period are the base for the medication of journal financial statements which reveal the financial position on a date and the financial results attained during a period. The American Institute of Certified Public Accountants states the nature of financial statements of a company as, “ the statements. set for presenting a journal review of the report on the progress of the operation and dealing with the status of investment in the business and the results achieved during the period under review. They reflect a combination of recorded data, counting principles and particular judgements”.

for more details please visit: https://www.manishco.com/financial-statements-of-a-company/

Manish co is tremendously proud of the impact that we have made in helping in Accounting by providing quality features and all comprehensive programs.

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Manishkumar Shrivastav

Manishkumar Shrivastav

Manish co is tremendously proud of the impact that we have made in helping in Accounting by providing quality features and all comprehensive programs.

More from Medium

Costco Stock: Valuation Over Growth?

Top 5 Dividend Stocks to Invest In

Stop Following, Start Thinking

Alternative data for researching a company