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What Are The Different Financial Statements Supported By The Financial Accounting

Are The Financial Statements Important?<br><br>What isu00a0Income Statement<br>What Isu00a0Balance Sheet<br><br>Get your all answers related tou00a0financial accounting in this presentation & Also get the bestu00a0financial accounting assignment helpu00a0<br>

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What Are The Different Financial Statements Supported By The Financial Accounting

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  1. WHAT ARE THE DIFFERENT FINANCIAL STATEMENTS SUPPORTED BY THE FINANCIAL ACCOUNTING?

  2. ARE THE FINANCIAL STATEMENTS IMPORTANT? Yes, they are very important for the growth of the company. Without the financial statements, the development of the different sectors in a company is not possible. The income statement provides insight into the profit loss. The balance sheet helps in balancing the assets and liabilities The financial statements are required by the law if the company is registered legally.

  3. INCOME STATEMENT This is the first vital statement that is within financial accounting is the income statements. These are the statements that deliver the net income of the company or organization. It is specific and limited to a certain time. The income statement includes the profit and loss that the company has earned. It is calculated easily by subtracting the total revenue by the total expense. This is one of the vital financial statements required for the growth of the company.

  4. INCOME STATEMENT This is the first vital statement that is within financial accounting is the income statements. These are the statements that deliver the net income of the company or organization. It is specific and limited to a certain time. The income statement includes the profit and loss that the company has earned. It is calculated easily by subtracting the total revenue by the total expense. This is one of the vital financial statements required for the growth of the company.

  5. BALANCE SHEET This is another financial statement required for your financial accounting assignment help. The balance sheet is all about showcasing the assets that are owned by the company. Not just the assets it also provides knowledge about the liabilities that the company owes. The balance sheet provides insights on the specific date and along with the shareholder's equity. The assets include buildings, vehicles, inventory, cash, machinery, etc. The liabilities include the loan payable, accounts payable, mortgages, payrolls, etc.

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