Financial Statements: Definition, Component, Importance
Financial statements are integrated information of recorded events, accounting conventions and individual judgment capacity.
Financial Statements Footnotes: Definition, Meaning, Types, Examples
Footnotes to the financial statements refer to additional information provided in a company’s financial statements. Financial statements footnotes describe left out items of the balance sheet and income statement; which have a significant impact on the companies profitability and operations. Notes to financial statements are those footnote at the bottom of the financial statement. These…
Balance Sheet: Meaning, Formula, Format, Types
Balance sheet consists of assets, liabilities and owner’s equity for a accounting period. 2 types of balance sheet are (1) Unclassified, (2) Classified Balance Sheet.
Income Statements: Definition, Types, Examples
Income Statement shows net profit or net loss arising out of activities of a particular accounting period of any business organization. Income statements are 2 types, Single-step income statement and Multiple-step income statement for finding net profit or loss an accounting period.