Questions & Answer

?What financial statements are prepared at the end of the financial period and what is the objective of the financial statements


The financial statements prepared at the end of the financial period are intended to

Income list:

Through this list, users can find out the result of the business of profit or loss by comparing revenues with expenses during a specified financial period.

Statement of financial position (balance sheet):

Through this list, users can know the financial position of the company and its assets (assets) and liabilities at a particular moment.

Statement of Equity:

Through this list users can see the changes in the rights of the owners of the company during a specific financial period.

Cash Flow Statement:

Through this menu users can see cash receipts (incoming) and cash payments (outgoing) to and from the company.