Financial Statement

Hey guys! Today is the last day of my lesson this semester and I wanna explain a little about financial statement. Please enjoy!

The accounting reports that provide information about transactions in a business are called financial statements.The principal financial statements are the income statement, the balance sheet and the statement of cash flows.

Income statement is a summary of the revenue and expenses for a specific period  of time, such as a month or a year. The balance sheet is a list of the assets, liabilities, and owner's equity as of a specific date, usually at the close of the last day of a month or a year. Statement of cash flows is a summary of the cash receipts and cash payments  for a specific period of time such as a month or a year.

This post is the shortest so far but I still hope that this can be very helpful for anyone who read this. I told you before that this is the last day of my lesson and next week I'm having my final exam. Oh my God I'm so nervous and I can't stop thinking about it! Anyway, thank you for visiting my blog and wish me luck!