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December 15, 2020Financial reporting and analysis is a practice which is conducted by every organization or business to analyze and assess the company’s financial performance in the previous financial year. Financial reports would give the organization an analysis of how the organization performed. An organization can find out if its performance was excellent, good, satisfactory or poor with the help of effective financial reporting services.
Income Statement
The income statement summarizes the costs, expenses and revenue acquired over a particular period of time. This period of time will usually be a year or a fiscal quarter.
Income Statement by Month
Income statements by month are prepared to provide summarized information for the latest twelve month period. These statements are displayed for every month.
Balance Sheet
The balance sheet is the most vital financial statement. The balance sheet displays the organization’s net equity, assets and liabilities at a specific date.
Statement of Cash Flow
This statement provides a summary of the organization’s cash flow activities. This includes, the organization’s investing, financing and operating activities.
Bank Reconciliation Report
The bank reconciliation report presents information about the cash balance shown on an organization’s books at a specific date.
Payroll Register
The payroll register displays information in an alphabetical order about all the employees who were paid during a particular month.
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