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financial statements are required as it helps the external and internal forces to communicate the financial records in easy manner and also it help in comparing with last year report so that they can get idea of mistakes or problems faced or improvement achieved also helps in comparing with other competitors report .....
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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.
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.
How does one prepare a financial statement for a small business?
Many websites are available to help one prepare a financial statement for a small business. Such websites include the Small Business Assocation, BizFinance About, and Dummies.
What is a financial statement that includes assets and liabilities?
A Balance Sheet, also sometimes referred to as a Statement of Financial Position.
Is a financial statement form required for tax purposes?
A financial statement is always required for a business large or small. The IRS needs this evidence of activity within a business for tax deductions.
Why knowledge of financial markets important requirement in business finance?
Effective level
Why knowledge of financial market an important requirement in business finance?
Effective level
Why do you say that financial statement analysis is management by exception?
why is financial statement analysis part of business analysis? Please answer this question, I'll need it this answer!
What is the business definition for profit loss statement?
The business definition of the profit loss statement is a financial statement that explains your costs, expenses and revenues in a specific time period.
What is the name of the financial statement that compares your income to expenses?
'Income Statement' is the financial statement which compares the business incomes with its expenses using matching principle for specific period of time
Which financial statement is primarily concerned with reporting the profit-related activities of a business?
Statement of Cash Flows
How can one determine the net loss of a business or financial statement?
To determine the net loss of a business or financial statement, subtract the total expenses from the total revenue. If the result is negative, it indicates a net loss.
