Business and Personal Finance: What Can Your Statements Tell You?

The Best Use of Your Financial Statements – What Can Your Statements Tell You? At face value, your financial statements tell you a lot about your company’s performance. The statement of profit and loss lets you know how much the company sold, and whether those sales resulted in overall profitability. The balance sheet tells you … Read more

Business and Personal Finance: How These Statements Interconnect

Preparing Financial Statements – How These Statements Interconnect Even though they each contain very distinct information, the three main financial statements are completely connected. In fact, you can’t produce a balance sheet without first creating a statement of profit and loss, and you can’t prepare a statement of cash flows without having already produced the … Read more