Financial statements consist of a balance sheet, an income statement, statement of cash flows, and a statement of stockholders’ equity.
A balance sheet presents a company's financial position at the end of a specified date. The income statement is important because it shows the profitability of a company during the time interval. Statement of cash flow reports the cash generated and used during a period of time. Statement of stockholders’ equity identifies the amount of money earned by the company versus contributed by stockholders. Watch this video to review examples of each of these important parts of a financial statement.
Runtime: 18 minutes
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