Video signpost: Financial Statements Explained

Financial statements are important because they outline the financial activities of a business.

There are three financial statements that every business uses. These are

  1. an income statement (sometimes called a ‘profit and loss account / statement’)
  2. a balance sheet, and
  3. a cash flow statement.

This video briefly explains these three statements.

On the following pages, we will look at these three statements in more detail.


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