68 406
Assignments Done
98,6%
Successfully Done
In December 2018

Answer to Question #78882 in Finance for Liam Johnston

Question #78882
Describe the information which will be contained in typical financial reports.
Expert's answer
With a bit of practice, understanding financial statements is easy. Think of your Balance Sheet reports as a set of before-and-after photos, with your Profit & Loss report telling the story of what happened in between.
- Balance Sheet report: Provides a snapshot of the value of assets, liabilities and equity at any point in time
- Profit & Loss report: Summarises income, expense and net profit over a specified period of time
- Statement of Cash Flow: Examines the cash flows in and out of a business
- Trial Balance report: Lists the debit and credit balances of all general ledger accounts at any point in time

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions