STATEMENT OF FINANCIAL INFORMATION
INTRODUCTION TO FINANCIAL STATEMENT Under Financial statement analysis, the information available is grasped together in order to find a meaningful relationship. The main purpose of…
Read MoreAccountancy Notes
Closing Entries
Classification of the statement
The purpose of Profit and Loss Statement
Gross profit
Cost of goods sold section
Miscellaneous operating revenue
Operating expenses
Sample of Profit and Loss Statement
The purpose of balance sheet
A balance sheet is a snapshot of a business’ financial condition at a specific moment in time, usually at the close of an accounting period….