Financial Statements

Financial Statements represent a formal record of the financial activities of an entity. They are a collection of reports about an organization's financial results, financial condition, and cash flows. They are useful for the following reasons: To determine the ability of a business to generate cash, and the sources and uses of that cash.They also quantify the financial strength, performance and liquidity of a company.

We currently offer three Types of Financial Statements:

1. Balance Sheet

Statement of Financial Position, also known as the Balance Sheet, presents the financial position of an entity at a given date. It is comprised of the following three elements:

Assets: Something a business owns or controls (e.g. cash, inventory, plant and machinery, etc)
Liabilities: Something a business owes to someone (e.g. creditors, bank loans, etc)
Equity: What the business owes to its owners. This represents the amount of capital that remains in the business after its assets are used to pay off its outstanding liabilities. Equity therefore represents the difference between the assets and liabilities.

View Example of a Balance Sheet

2. Income Statement

Income Statement, also known as the Profit and Loss Statement, reports the company's financial performance in terms of net profit or loss over a specified period. Income Statement is composed of the following two elements:

Income: What the business has earned over a period (e.g. sales revenue, dividend income, etc)
Expense: The cost incurred by the business over a period (e.g. salaries and wages, depreciation, etc)

Net profit or loss is arrived by deducting expenses from income.

View Example of Income Statement

3. Cash Flow Statement

Cash Flow Statement, presents the movement in cash and bank balances over a period. The movement in cash flows is classified into the following segments:

Operating Activities: Represents the cash flow from primary activities of a business.
Investing Activities: Represents cash flow from the purchase and sale of assets other than inventories (e.g. purchase of a factory plant)
Financing Activities: Represents cash flow generated or spent on raising and repaying share capital and debt together with the payments of interest and dividends.

View Example of Cash Flow Statement

Please upload the following:

Balance Sheet: All asset accounts which include cash, accounts receivables, etc. All liabilities, which include accounts payable, notes, etc. All capital stock balances.

Income Statement: All revenue, expenses, and capital gains or losses.

Cash Flow Statements: All cash disbursements, cash receipts, and non- cash items.

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