Financial Statements

Profit and Loss Statement – The Financial Statement that matters

Business or trade is all done with the idea of making surplus money. The surplus is known as profit in common parlance. Understanding the profit and loss statement is of utmost importance for a business person. It should not be left to an accountant. First thing is Profit and Loss statements are not complex. They… Continue reading Profit and Loss Statement – The Financial Statement that matters

Financial Statements

3 Basic Financial Financial Statements

There are three basic financial statements that will tell us whether a company is making profit or not. They are: Balance Sheet – Balance Sheet is a legal requirement of every Company all over the world. It is a statement of financial position. On one side is Asset meaning whatever company has. on the opposite side are… Continue reading 3 Basic Financial Financial Statements