Regardless of whether you personally participate in the process, understanding how to produce a basic financial statement and report is essential for every small-business owner. A balance sheet, ...

Every business keeps records of its operations and transactions, and accountants take this information to produce four basic financial statements: a profit and loss statement, balance sheet, statement ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...