Financial Statements How profitable is the company,? What resources does it have and are these resources funded by debt? How well is it managing cash, what are the sources and uses of cash? Will information be given monthly, quarterly, semi-annually or annually?

Statements designed for a particular accounting period Income Statement Cash Flow statement Revenues earned Expenses incurred Multi -Purpose statements Prepared each month, quarter, six month period or at least once a year Prepared from an adjusted trial balance Historical GAAP Operating cash flows Investing cash flows Financing cash flows Multi-purpose statements Prepared each month, quarter, six month period or at least once a year Prepared from journal entries/ Cash ledger (or analyzing other statements) Historical GAAP

Balance Sheet At one specific moment of time, such as “as of January 31st 2XXX” Prepared at least at the end of each yearly accounting period Shows ending balance for each asset or resource owned Shows ending balance for each debt owed Shows ending balance for each stockholder’s equity account Historical Prepared from an adjusted trial balance