![]() ![]() Income statements are used to assess the profitability of an enterprise. The net income equals the total revenues minus the total expenses, showing either profit or loss. Some common expenses of an enterprise are the wages paid to employees, the costs of electricity and facilities, and the taxes. Revenues can be divided into operating revenue, non-operating revenue, and other incomes according to different activities of getting the income. Balance sheet by FineReportĪn income statement, which also refers to a profit and loss report, shows an enterprise’s revenues, expenses, and net income in a certain period of time. Therefore, the assets are sometimes presented in the left part of the balance sheet while the other two are placed in the right part, enabling analysts to check the equation clearly.Ī balance sheet is used to display the financial position of an enterprise to help analysts, investors, and executives to tell whether the enterprise is developing in a healthy and steady way. ![]() The total assets must equal the total liabilities plus the total stockholders’ equity. There is a special relationship between them. I will introduce them one by one in the following part.Ī balance sheet is a statement that shows an enterprise’s assets, liabilities, and stockholders’ equity on a specific date, usually the end of a certain period. Three main reports commonly used in financial reporting are balance sheets, income statements, and cash flow statements. In a standard financial report, a company’s financial activities and performance are presented in a readable manner for people to view and analyze. Why Does a Company Need Financial Reports?įinancial reports (also known as financial statements) are formal documents used to comprehensively and accurately record and reflect an enterprise’s financial conditions, operating results, and cash flows in a specific period. Best Financial Report Templates & Samples Step 3: Design a report and visualize financial data. ![]()
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