What are the classification of financial statement?

There are four main financial statements. They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders’ equity.

What are the 5 types of financial statements?

The 5 types of financial statements you need to know
  • Income statement. Arguably the most important. …
  • Cash flow statement. …
  • Balance sheet. …
  • Note to Financial Statements. …
  • Statement of change in equity.

What are the 4 types of financial statements?

4 Types of Financial Statements That Every Business Needs
  • Balance Sheet. Also known as a statement of financial position, or a statement of net worth, the balance sheet is one of the four important financial statements every business needs. …
  • Income Statement. …
  • Cash Flow Statement. …
  • Statement of Owner’s Equity.

What are the 5 components of financial statements?

Five elements of the financial statement include the balance sheet, income statement, statement of cash flow, statement of changes in equity, and the notes to the financial statements.

What are the six 6 basic financial statements?

These include the working capital ratio, the quick ratio, earnings per share (EPS), price-earnings (P/E), debt-to-equity, and return on equity (ROE). Most ratios are best used in combination with others, rather than singly, for a comprehensive picture of company financial health.

What are the key items on a financial statement?

Of these elements, assets, liabilities, and equity are included in the balance sheet. Revenues and expenses are included in the income statement.
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The main elements of financial statements are as follows:
  • Assets. …
  • Liabilities. …
  • Equity. …
  • Revenue. …
  • Expenses.

What are the 7 components of financial planning?

A good financial plan contains seven key components:
  • Budgeting and taxes.
  • Managing liquidity, or ready access to cash.
  • Financing large purchases.
  • Managing your risk.
  • Investing your money.
  • Planning for retirement and the transfer of your wealth.
  • Communication and record keeping.

What are the 6 financial documents?

Six most useful financial documents for small businesses
  • Income statement.
  • Cash flow statement.
  • Balance sheet.
  • Accounts receivable aging report.
  • Business plan.
  • Budget report.

What are the 5 types of accounts?

The 5 Account Types
  • Assets.
  • Liabilities.
  • Expenses.
  • Income (Revenue)
  • Equity.

What are the 5 methods of financial statement analysis?

Five Financial Statement Analysis Techniques
  • Trend analysis:
  • Common-size financial analysis:
  • Financial ratio analysis:
  • Cost volume profit analysis:
  • Benchmarking (industry) analysis:

What are the main 3 financial statements?

The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company’s financial strength and provide a quick picture of a company’s financial health and underlying value.

What are the 6 financial documents?

Six most useful financial documents for small businesses
  • Income statement.
  • Cash flow statement.
  • Balance sheet.
  • Accounts receivable aging report.
  • Business plan.
  • Budget report.

What are the 12 types of financial analysis?

The most common types of financial analysis are vertical analysis, horizontal analysis, leverage analysis, growth rates, profitability analysis, liquidity analysis, efficiency analysis, cash flow, rates of return, valuation analysis, scenario and sensitivity analysis, and variance analysis.