Financial Statement- Building Cash Flow Statement Cash flow statement is a financial statement which reflects the inflow and outflow of cash and cash equivalents from the business during an accounting period. It helps in showing detailed picture of changes in the balance sheet and income statements so incurred due to the entering and leaving a company. It shows how the company manages its cash position by using it effectively in

Financial Reports- Understanding Income Statement Profit & Loss account also known by the name of Income Statement, summarizes the overall expenditures, revenues, net profit and loss incurred during the accounting period be it monthly, quarterly or yearly. It reveals the profit and losses so generated during the period by carrying on its operations significantly. These type of statements are prepared and presented using the method of cash system of accounting