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You don't actually record a "financial statement" the financial statements are the documents the company uses to record financial transactions, those include
Balance Sheet
Statement of Owners Equity
Statement of Retained Earnings
Income Statement
Trial Balance
Post Closing Trial Balance
Just to name a few.
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What is the main objective of Accounting Standards?
A financial statement is a record of the financial activities of a person or business entity where all related financial information are presented in an...
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
Do financial reporting and financial statement mean the same thing?
"Do the term financial reporting and financial statement mean the same thing?"
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.
Is the Bank Reconciliation statement a part of financial statement?
Bank reconciliation statement is not part of financial statement it is the helping statement to tally bank account with balance in banks statement.
What is the main objective of Accounting Standards?
A financial statement is a record of the financial activities of a person or business entity where all related financial information are presented in an...
What is a personal financial statement form for?
A personal financial form is a formal record of all the financial activities completed by that entity, whether a business, or an individual. Reported assets, liabilities, equity, income and expenses are directly related to an entity's financial position, and a financial statement should present this clearly.
Can you consider notes to financial statement to be a financial statement?
Notes to financial statement can be considered to be a financial statement since they report the details and additional information that are left out.
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is considred to be a personal finance statement?
A financial statement (or financial report) is a formal record of the financial activities of a business, person, or other entity. In British English-including United Kingdom company law-a financial statement is often referred to as an account, although the term financial statement is also used, particularly by accountants. For a business enterprise, all the relevant financial information, presented in a structured manner and in a form easy to understand, are called the financial statements. They typically include four basic financial statements, accompanied by a management discussion and analysis.
What happens to my financial statement if I don't record a prepayment?
The assets in the balance sheet will be understated as prepayment is under the assets account.
Where can one find financial statement software?
CNet is a resource for a variety of downloads, including financial statement software downloads. This software can also be found at Financial Statement Pro and My Financial Statement.
What is a Statutory financial statement?
A statutory financial statement is a financial statement of an insurance company prepared in accordance with statutory accounting standards.
What is financial statement?
financial comparison statement is a statement showing the trend in which financial figures are changing between two accounting period.
What should a businesses financial statement contain?
it should contain statement of comprehesive statement, statement of financial position and statement of cashflows
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
What is Financial comparative statement?
financial comparison statement is a statement showing the trend in which financial figures are changing between two accounting period.
