Brief Explanation Report showing revenue and expenses over a period. Glossary Definition An income statement, also known as a profit and loss statement, is a financial report that provides a summary of a company's revenues, expenses, and profits or l ...
⏩Brief Explanation Snapshot of financial position at a specific date. 📔Glossary Definition A balance sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shar ...
⏩Brief Explanation Tracks company cash inflows and outflows over a period. 📔Glossary Definition A cash flow statement is a financial document that provides a detailed analysis of what happened to a business's cash during a specific peri ...