A good way to know the financial status of any company is through their financial statement. A company’s financial statement provides financial information to investors and creditors in order to assess their overall financial status. Moreover, the company’s management uses it in order to determine whether they are on track of the company’s goal. Most entrepreneurs may leave these matters to a hired accounting firm or to an accountant. But there are essential things about financial statements that all owners must know.
THE THREE FINANCIAL STATEMENTS.
1. Balance
Sheet
A balance sheet is a list of assets, liabilities,...
