Comhroinn Fuaime

Review of financial statements Next, let's explore three of the key financial statements: balance sheet, income statement (also known as the profit and loss statement), and statement of cash flows. Balance sheet: evaluating the financial position The balance sheet is a snapshot of a business's financial position at a specific point in time. Its purpose is to report the business's financial health and answer the question, "Can the business meet its current financial obligations?" Here are the