Accounting

So you might be asking yourself, why did we do all of that? Seems like a lot of effort for just a couple of reports. Well here’s the answer. You cannot make good business decisions without good information. With these two reports, we now have accurate, well prepared, easy to understand financial information about our…

What is Cash Flow Statement? The Cash Flow Statement portrays how a company has spent its cash. It is often used in tandem with the other two key reports – the Profit and Loss and the Balance Sheet. It is the third component of a company’s financial statements. Why Cash Flow Statement is Important? The…

What is Profit and Loss Statement? A Profit and Loss Statement illustrates how much profit you made in any given period. Usually, it is one year. A Profit and Loss Statement is important because it illustrates whether or not we have made a profit – one of the most important objectives of being in business….