Statement of financial position

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

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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: Financial Statements Flow into Tax Returns

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The Income Tax Impact – Financial Statements Flow into Tax Returns The first time you look at any business tax return form, you’ll see that it resembles your financial statements, without the numbers filled in yet. That’s really all the tax return is, after all: a standard form on which to report your company’s revenues, … Read more