📄️ Financial Statements
Financial statements are formal records that summarize your business's financial activities and position. They're essential for decision-making, stakeholder communication, and regulatory compliance.
📄️ Balance Sheet
The Balance Sheet provides a snapshot of your business's financial position at a specific date, showing what you own (assets), what you owe (liabilities), and the owner's stake (equity).
📄️ Income Statement
The Income Statement (also called Profit & Loss or P&L) shows your business's financial performance over a specific period, revealing whether you made a profit or loss.
📄️ Cash Flow Statement
The Cash Flow Statement tracks all cash inflows and outflows, showing how cash moves through your business. Unlike the Income Statement (which includes non-cash items), this shows actual cash movements.
📄️ Financial Analysis
Financial analysis transforms raw financial data into actionable insights for decision-making. This guide covers key ratios and analysis techniques.
📄️ Starting a New Period
After completing your period-end procedures and financial statements, it's time to prepare for the new accounting period. This ensures a clean start and continued accuracy.