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Financial Statements

Financial statements are key documents that detail a company's business activities and financial performance, aiding in future projections and decisions. The main types include the Income Statement, Statement of Owner's Equity, Balance Sheet, and Cash Flow Statement, each serving distinct purposes related to revenues, ownership interests, assets, and cash usage. These reports are submitted to business owners at the end of the accounting period and represent the culmination of the accounting process.

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14 views11 pages

Financial Statements

Financial statements are key documents that detail a company's business activities and financial performance, aiding in future projections and decisions. The main types include the Income Statement, Statement of Owner's Equity, Balance Sheet, and Cash Flow Statement, each serving distinct purposes related to revenues, ownership interests, assets, and cash usage. These reports are submitted to business owners at the end of the accounting period and represent the culmination of the accounting process.

Uploaded by

iremischyro
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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FINANCIAL

STATEMENT
Financial statements are written
documents that outline the business
activities of a company.
These statements are analyzed to infer
the financial performance and well-
being of a business, helping make
future projections and decisions based
on historical trends.
The reports submitted to the owner of
the business at the end of the
accounting period.
 It is considered as the end- product of
the accounting process.
4 TYPES OF

OWNER’S EQUITY
Statement of Performance

 Sometimes referred to as Income


Statement
 It describes what the company did with
the money it earned and spent.
 Income statements include all revenues,
expenses, gains, and losses that occurred
during a period.
Statements of Owner’s Equity
 It also called as the Capital
statement.

 It outlines the changes in ownership


interests for the company’s
shareholders.

 The statement of changes in equity is


a relatively straightforward
calculation:
Statement of Financial Position

 Also called the Balance Sheet

 The balance sheet is an item-by-item


breakdown of everything the company
owns, including assets, liabilities,
shareholder equity, and other variables
during a specific moment in time.
Cash Flow Statement

 Cash flow statements show how the


company uses its revenue.

 These give investors and shareholders a


direct look into how effectively the company
is spending its money, particularly in the
context of long-term and short-term
investments.
IDENTIFY:
1. The reports submitted to the owner of the business at the
end of the accounting period.
2. A financial statement showing the details of the revenue,
expenses, net income or net loss of operations in a given
period.
3. It shows the total assets and total liabilities of the company
_____________.
4. Also called the Balance Sheet.
5. It shows how the company uses its revenue.

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