The four main types of financial statement are statement of financial position, income statement, cash flow statement, statement of changes in equity. The financial statements prepared for most small businesses comprise a balance sheet and an income statement.
Statement of financial form or balance sheet presents the financial position of an entity at a given date. It is comprised of three elements – assets, liabilities and equity. The accounting equation (assets= liabilities +equity) is the basis for balance sheet.
Income statement also called profit or loss statement lists your income, expenses and net income or loss. The net income or loss is equal to your income minus your expenses. Income statements also report earnings per share. This calculation tells you how much money shareholders would receive if the company decided to distribute all of the net earnings for the period.
Cash flow statement report a company’s inflows and outflows of cash. This is important because a company needs to have enough cash on hand to pay its expenses and purchase assets. The movement in cash flow is classified into three segments- operating activities, investing activities and financing activities.
Statement of changes in equity also known as the statement of retained earnings, details the movement in owner’s equity over a period. The movement in owner’s equity is derived is derived from components like net profit or loss during the period , share capital issued or repaid during the period, dividend payments, gains or losses recognized directly in equity.
Each financial statement is related to one another. So business financial statements provide very powerful information for investors. Business financial statement forms thus reflect the financial strength, performance and liquidity of a company.
Use the printable Business Financial Statement template available online. Download it either in MS Word or PDF format. Both MS Word and PDF format can be edited and customized as per your needs.
Business Financial Statement Form
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