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What is a Financial Statement?

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A financial statement is in the form of written records that can be used to express various business transaction activities which is a direct reflection of how well any company is doing in terms of progress. A strong financial statement includes the following-

  • Cash flow statement- It reflects on the influx and outflux of the cash of any organis
  • Income statement- It reflects on the net profit made by any organisation during a given particular quarter.
  • Balance sheet- it is the last step of putting together the financial reports. It is presented in a tabular form with liabilities and assets standing opposite to each other.

How are Personal Financial Statements Different?

A personal financial statement, on the other hand, can be in the form of a document or a spreadsheet that gives a detailed insight into the person’s financial situation. The financial statement of the person should have his or her personal details such as name, address etc. and also enlists details about the person’s assets and liabilities. Using this statement, a close vigil can be kept on the wealth of the person. The wealth and the collected money can be easily tracked by using this financial statement. It mainly comes to play when a person applies for credit.

Analysis of the financial statement involves evaluating the reliability, productivity and clearness of any business venture.  From the available assets, the experts derive the analysis to associate the same to the business details. The results that are derived from a financial statement enables the administration to take further steps, that can be concerning the business. It also provides an insight into the fact as to how some elements might pose a threat to the business of an individual.

Our Finance Assignment Writing Experts Helping Students In Preparing Their Financial Statements With Ease

Students might find it difficult to complete their financial statement in time or as per the requirements of the research. Doing this task needs a deep understanding of the concepts involved in the subject matter. The experts at Sample Assignment have been there for the student helping them in doing their financial statement with ease.

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