Contact Us

What are the three most important statements that are needed for accounting practices?

The three most important financial statements in accounting are the balance sheet, income statement, and cash flow statement.

  • The balance sheet shows a company’s assets, liabilities, and equity at a specific point in time.
  • The income statement shows a company’s revenues, expenses, and profits or losses over a period of time.
  • The cash flow statement shows a company’s cash inflows and outflows over a period of time and helps to assess its liquidity and financial health.

Leave a Reply

Your email address will not be published. Required fields are marked *