Month: September 2020

A Balance Sheet is a financial statement that shows the company’s financial position at a specific point of time. It shows what a company owns, how much it owes as well as the amount invested by the shareholders.  The Balance…

The income statement or profit and loss account is one of the most important financial reports in the organization. It shows the company’s net profit or net loss. Unlike the balance sheet which is prepared on a particular day, the…