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What financial statement is most important?
cash flow statement
What are the different accounting reports?
-statement of financial position, -statement of profit and loss and other comprehensive income, statement of cash flows, -statement of change in equity, -Notes to the account
What are financial reports that summarize the financial condition and operations of a business?
Financial statements are financial reports which summarize the financial condition and operations of a business. Included in a financial statement are a balance sheet, income statement, and also a cash flow statement.
What items might be in the financial statements but not actually on the balance sheet income statement statement of retained earnings or statement of cash flows?
Since the notes to the financial statements form part of the financial statements and are a component of financial statements, certain disclosures found in the notes may not be found in the balance sheet, income statement, statement of retained earnings or statement of cash flows.
Is the cash on the year end financial statement calculated by the bank statement balance or on actual cash in the bank on the last day of the fiscal year?
Balance Statement
Is a cash flows part of a financial statement?
No. Cash flow is not part of a financial statement, but is a finance statement along with the statement of comprehensive income and statement of financial position. Cash flow shows the liquidity of an organisation.
What financial statement would show the amount of cash generated by operations?
The cash flow statement.
Is a cash flow statement part of a financial statement?
Yes cash flow statement is part of financial statements and mandatory to provide along with income statement and balance sheet.
What financial statement is most important?
cash flow statement
Which financial statement would show the amount of cash generated by operations?
Cash Flow Statement
Is a cashflow statement an obligatory financial statement?
Yes Cash flow statement is an obligatory financial statement alongwith income statement and balance sheet.
When did the statement of cash flows become a requirement for business?
The statement of cash flows replaced the statement of changes in financial position in 1987 as a required financial statement for all publically traded business enterprises.
Is a balance sheet the same as a financial statement?
Balance sheet is a type of financial statement. Other types of financial statements could be income statement and statement of cash flow.
Importance of cash flow statements?
Cash flow satement is an important financial statement as it tells about the cash inflows and outflows from different business activities and this information is not available in any other financial statement.
What financial statement does not report amounts primarily on accrual basis?
statement of cash flows
Which financial statement can be compared with a still photograph?
cash flow statement
What is the difference between final account and financial statement?
Financial Statement: Financial statement is a instrument used to present a companies financial position. Financial statement complies with balance sheet, cash flow and funds flow statements. Final accounts is the final stage of preparation of financial statement
