There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business.

Meagan is a former Series 7 financial advisor and current writer focused on blending straightforward information with a dose of humor on topics including equity investments, insurance products, and ...

Final accounts show the financial health of a business and are useful to owners/investors, banks, the government, staff, and management. Statement of financial position (balance sheet) shows the value ...

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 ...

U.S. law allows for four forms of business organizations: sole proprietorships, partnerships, limited liability companies and corporations. According to Corporate Finance Institute, a sole ...

Banks being specialized enterprises are not distinct from any business form except for their roles as financial intermediaries. Underlying their unique functions, and behind their secured bricks and ...