Get to Know Your Financial Statements

In the simplest sense, nobody is as interested as the whole account of your personal life more than you are. Well, people just come and go at certain points in time, leaving traces of influence, or perhaps legacies that impact the way your life goes. This is also true with business entities.  Owners and other stakeholders are most interested in how well the operation goes, as investments must be recouped in the shortest span possible. Activities though can never be contained in the memory capsule of a single individual. These need to be recorded strategically and later analyzed to significantly affect operations-hence, the emergence of financial statements.
 
What is a financial statement? It formally puts into writing all the financial pursuits of the business and their results. Finances are crucial in any business endeavor. The role of financial statements is to produce the necessary information for any stakeholder to make informed decisions pertaining to his interest in the…

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