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This section presents detailed information and additional explanations related statements. These notes provide the context and detail necessary to understand the numbers presented. . Consolidated Financial Statements If a company has subsidiaries or affiliates, this report combines the financial statements of all those entities to provide a consolidated picture of the entire group of companies. It is important to note that each financial report has a specific role and information it conveys, and the entire series of reports provides a holistic picture of a company's finances.
Also read Get to know the Benefits of Financial Reports for Potential Investors Order of Financial Reports According to Accounting Science Order of Financial Reports According to Accounting Science The sequence Job Function Email Database of financial reports according to accounting science generally follows the following sequence . Income Statement Income Statement This report presents a company's revenue, costs, and net profit or net loss over a specific time period, usually a fiscal year. . Cash Flow Statement Cash Flow Statement This report provides an overview of the company's cash inflow and outflow over a certain period of time.
Divided into three main activities operations, investment and funding. . Balance Sheet The balance sheet reflects the financial position of a company at a certain point in time. Divided into assets, liabilities, and owner's equity. . Statement of Changes in Equity Statement of Changes in Equity This report records changes in a company's owners' equity over a period of time, including owner contributions, retained earnings or losses, and other changes in equity. . Notes to the Financial Statements Notes to the Financial Statements.
Also read Get to know the Benefits of Financial Reports for Potential Investors Order of Financial Reports According to Accounting Science Order of Financial Reports According to Accounting Science The sequence Job Function Email Database of financial reports according to accounting science generally follows the following sequence . Income Statement Income Statement This report presents a company's revenue, costs, and net profit or net loss over a specific time period, usually a fiscal year. . Cash Flow Statement Cash Flow Statement This report provides an overview of the company's cash inflow and outflow over a certain period of time.
Divided into three main activities operations, investment and funding. . Balance Sheet The balance sheet reflects the financial position of a company at a certain point in time. Divided into assets, liabilities, and owner's equity. . Statement of Changes in Equity Statement of Changes in Equity This report records changes in a company's owners' equity over a period of time, including owner contributions, retained earnings or losses, and other changes in equity. . Notes to the Financial Statements Notes to the Financial Statements.