Generating Financial Statements
Services
Rs21,201
Description
Accounting Services in Baltimore. Once the adjustments are made and a final (adjusted) trial balance is verified, the data is used to produce the official financial reports.
Action: Use the final account balances to create the three primary statements:
Income Statement (shows performance/profitability over a period).
Balance Sheet (shows assets, liabilities, and equity at a specific point in time).
Cash Flow Statement (shows movement of cash).
The next phase of the full accounting cycle, closing the books, officially ends the period and prepares the records for the next cycle.
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