Types of financial reportings.
What are the different types of financial reporting? There are four types of Financial reporting:- Income statement: - Income statement for the entire reporting period unveils the financial performance of a firm. It starts with the sales and then it deducts all the expenses which were incurred during the period to reach a net profit or net loss. Balance sheet: - Balance Sheet displays the financial situation of a business as of the report date (thus it covers a precise point in time). The info is combined into the general classifications of assets, equity & liabilities. Cash flow statement: - Cash flow statement report unveils the cash inflows and cash outflows experienced by a company during the reporting period. These cash flows are actually broken down into three classifications -operating activities, financing activities & investing activities. Changes in equity statement: - This report documents all the changes in equity during...