Financial Statements

  • Pro Forma Financial Statements
    A pro forma financial statement is a report that makes use of estimates, assumptions and projections to forecast the financial statements.
  • Statement of Retained Earnings
    The statement of retained earnings, also known as the retained earnings statement, is a financial statement that shows the changes in a company’s retained earnings account for a period of time.
  • Cash Flow Statement – Indirect Method
    A statement of cash flows can be prepared by either using a direct method or an indirect method.
  • Cash Flow Statement – Direct Method
    A statement of cash flows can be prepared by either using a direct method or an indirect method.
  • Statement of Cash Flows
    The statement of cash flows, sometimes called the cash flow statement, sums up how balance sheet changes can affect the cash account throughout the accounting period.
  • Statement of Financial Position
    A statement of financial position is another name for the balance sheet.
  • Classified Balance Sheet
    A classified balance sheet is a financial statement that reports the assets, liabilities and equity of a company.
  • Single-Step Income Statement
    A single-step income statement is a format in which all of the expenses, including the cost of goods sold, are listed in one column.
  • Balance Sheet
    The balance sheet is one of the general-purpose financial statements prepared during the accounting cycle.
  • Statement of Stockholders’ Equity
    The statement of stockholders’ equity is a financial statement that summarizes all of the changes that occurred in the stockholders’ equity accounts during the accounting year.
  • Extraordinary Items
    An extraordinary item is non-recurring in nature as it is infrequent and unusual in the normal course of a business’ operations.
  • Other Comprehensive Income (OCI)
    Other comprehensive income (OCI) includes all those revenues, expenses, gains and losses that affect a company’s equity side of the balance sheet and have not yet been realized.
  • Profit and Loss Statement (P&L)
    A profit and loss statement (P&L) is a financial statement that reflects the revenues and the expenses of a company for a given accounting period.
  • Multi-Step Income Statement
    A multi-step income statement classifies the revenues, expenses, losses, and gains into operating and non-operating sections (commonly known as heads).
  • Income Statement
    An income statement is one of the main financial statements used by accountants, analysts and business owners to show the profitability of a company during a specific period of time.
  • Operating Cash Flow (OCF)
    Operating cash flow (OCF) is a measurement of the amount of cash brought in by a company’s normal business operations.
  • What is Inventory?
    Definition: Inventory is regularly referred to as goods.
  • Incurred Expenses
    Incurred Expenses are costs that a business will owe after receiving goods or services.
  • Introduction to Funds Type Statements
    Controlling the flow of funds through a business is an important management activity.
  • Introduction to Financial Statements
    This Basic Financial Statements overview serves as an introduction to financial statements and financial statement concepts.