Other Financial Statements

In this topic, we will introduce the income statement, cash flow statement, capital statement, and budget versus actual. These terms all involve money or the use of money in some form.
An income statement shows a company’s revenues, expenses and profitability over a period of time. It is also sometimes called a profit-and-loss (P&L) statement or an earnings statement. It shows your revenue from selling products or services. While the cash flow statement is a financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources. It also includes all cash outflows that pay for business activities and investments during a given period.