"MANIFESTATION OF EVERY BUSINESS CONCERN, ORIGINATE IRRESPECTIVE OF NATURE, SCALE AND SIZE, RESOLVES ON FINANCIAL REPORTS"
Financial reporting is an integrated soul of an organization. It involves preparation of specific and articulate financial statements at the end of every calendar year that in turn amazes the organization with its performance RESULTS.
Financial reporting involves preparation of financial reports or financial statements and then studying the overall performance of a company. These financial statements give a summary of a firm's long and short term profitability
FINANCIAL STATEMENTS INCLUDES:
Income Statement
The income statement summarizes the costs, expenses and revenue acquired over a particular period of time. This period of time will usually be a year or a fiscal quarter. This financial report provides information about the capability of the organization to make profit by minimizing costs and maximizing revenue. g. This report is also called ‘profit and loss statement’, statement of profit and loss’ or ‘income and expense statement’. read more.....
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