Financial Statements
Financial statements are reports generated by an organization's accounting system that provide a summary of its financial transactions. These statements include the balance sheet, income statement, and cash flow statement. The balance sheet shows the organization's assets, liabilities, and equity at a specific point in time. The income statement shows the organization's revenue, expenses, and net income over a specific period of time. The cash flow statement shows the organization's cash inflows and outflows over a specific period of time. Financial statements are important for investors, creditors, and other stakeholders to evaluate the financial health and performance of an organization.
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