Statement of Changes in Equity The Statement of Changes in Equity (the Statement of Equity, Statement of Shareholders’ Equity, or Statement of Retained Earnings) is a financial statement outlining changes in a company’s equity over a specific period. It provides…
Income statement The income statement is one of the most important financial statements, also known as the profit and loss account, is a critical financial document that provides an overview of a company’s performance over a specific period. It includes…
Balance sheet The balance sheet, also known as the statement of financial position, offers a vital overview of a company’s financial status. It serves as a cornerstone in financial reporting, crucial for investors, creditors, and management to grasp the company’s…
Definition of Financial Statements Financial statements are comprehensive documents that present a company’s financial performance and position. It Consists primarily of the income statement, balance sheet, and cash flow statement; these statements provide a structured overview of a company’s revenues,…
