Description

Statement or Report

Is issued once a year by a corporation and contains basic financial statements and an analysis of past performance and future prospects.Annual report $$Accounts for all revenues and expenses over an accounting period.Income statement $$Provides a quantitative summary of a company$$s assets, liabilities, and net worth at a specific point in time.Statement of cash flows $$Gives details about the company$$s cash at the beginning of the year and what is left at the end of the year, including some details about where cash was generated and where it was used during the course of the year.Statement of cash flows $$Explains the changes in a company$$s retained earnings over the accounting year.Balance sheet $$