Financial Statements contain the financial information on a business or person. One useful report is the Balance Sheet which is a picture of the business from the start of the business to the current period. This tells the business owner the value of the business. Another useful report is the Profit and Loss Statement which is a picture of the business in the current period of time. This shows the viewer if the company is profitable in the current working year. These reports are used together to give a overall view of the business.
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