Fundamentals of Accounting And Bookkeeping > Financial Statements

Financial Statements with Example

16.8k

There are four different types of financial statements. There are four of them: (1) balance sheets, (2) income statements, (3) cash flow statements, and (4) shareholder equity statements. At a given point in time, balance sheets reflect what a corporation owns and owes.

Financial statements are a great tool for understanding the financial condition of a business. They can show you how revenue and profits have changed over time, and compare the current performance with past years. Financial statements can also help you identify areas in which you might want to see changes or improvements made.

The balance sheet and the income statement are the two most important statements in a set of financial statements. There are various statements in a set of financial statements, some of which are optional.

Financial statements are the most important financial documents that organizations use to manage their businesses. These statements provide an overview of the current state and financial status of a company with its detailed balance sheets, income statements, and cash flows.

The income statement is likely to be the most essential financial statement for the majority of consumers, as it displays a company's potential to make a profit. Furthermore, the information on the income statement is usually in current dollars, implying a reasonable degree of accuracy.

Learner's Ratings

4.3

Overall Rating

  • 75%
  • 10%
  • 0%
  • 3%
  • 12%

Reviews

B
bramhanand dhumal
5

Useful course 👍

B
Binandi Karmakar
5

Very helpful course Thanks LearnVern

H
Hasan Ahmad
5

EXCELENT

S
Suneet
5

Good 👍

N
nadeem abbas
5

I am interest this course

B
Barun Singh sonar
5

really love this course, I strongly suggest to make upper level course Thank you

A
Arti Amlekar
5

Good for learn

A
amit choubey
5

superb and helpful course.

S
Sapna Chauhan
5

Nothing

H
Hexa
5

I m doing business from last 4 years but didn't understand profit loss statement but due to this course I am Very Confidient I will learn each every concept of Accounting Thanks Learnvern team

Show More
Recommended Courses
Course Content

  1. Introduction to Fundametals of Accounting and Bookkeeping
    5m 51s

  1. Introduction to Accounting
    17m 57s
  2. Various Accounting Concepts
    11m 34s
  3. Various Terminologies in Accounting
    11m 45s
  4. Assignment : Basic Accounting
    1m 1s
  5. Assignment : Basic Accounting
    1m 17s

  1. Financial Transactions in Accounting
    9m 58s
  2. What are Books of Account
    11m 54s
  3. Assignment : Starting Point of Accounting
    1m

  1. Fundamental Principles of Accounting
    5m 45s
  2. Accounting Assumptions
    14m 30s
  3. Ledger & Accounting Methods
    16m
  4. Assignment : Fundamental Accounting Principle
    39s
  5. Assignment : Fundamental Accounting Principles
    42s

  1. Steps of Bookkeeping Process Part-1
    12m 45s
  2. Steps of Bookkeeping Process Part-2
    17m 7s
  3. Assignment : Steps of Bookkeeping Process
    39s

  1. Importance of Bookkeeping Process
    15m 39s
  2. What are Fixed Assets
    12m 16s
  3. Assignment : Importance of Bookkeeping
    48s
  4. Assignment : Importance of Bookkeeping
    45s

  1. What is Bank Reconciliation
    16m 1s
  2. Example of Bank Reconciliation Statement (BRS)
    13m 59s
  3. Assignment : Bank Reconciliation
    1m 7s

  1. Journal Entry in Accounting
    17m 44s
  2. Cases where Journal Entry is required
    16m 19s
  3. Assignment : Journal Entry
    1m 44s

  1. Introduction to Payroll
    15m 6s
  2. Transactions with Payroll
    13m 45s
  3. Assignment : Payroll Management
    40s

  1. Financial Statements
    13m 6s
  2. Financial Statements with Example
    15m 57s
  3. Assignment : Financial Statements
    1m 7s

  1. Course Summary
    2m 8s

  1. Interview Question in Fundamentals Of Accounting And Bookkeeping
    4m 20s

  1. Career Guideline
    2m 9s
Enroll For Free