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Cash Flow Statement

The cash flow statement is an overview of a business’s liquidity.  It includes the flow of cash acquired from operating activities, investing activities, and financing activities over a specified period of time.  Put simply, it is a record of cash made and used during that time. Operating activities refers to the action of selling a […]

Income Statement

The income statement, also known as the profit and loss statement, is used to show a business’s profitability over a particular period of time.  In essence, it is the documented process of the expenses deducted from the revenues, or “top line”, to reveal the net income, or “bottom line”.  At the top of the income […]

Balance Sheet

The balance sheet is the summary of a business’s financial status.  It is also known as the statement of financial position as it is an overview and all-encompassing snapshot of a business at a particular moment in time.  A standard balance sheet is made up of assets, liabilities, and ownership equity. A company’s possessions are […]

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