Do you need help understanding your business financial statements? You have come to the right place, here we will discuss the three main business financial statements. Starting a business can be nerve racking especially trying to figure out how much the business made or how much is coming out. That’s where financial statements come in and help you keep track of your business. Let’s expand your knowledge on the basics of business financials. What Are Financial Statements? Financial statements are written documents that outline a company’s operations as well as its financial success. Government organizations, accounting firms, and other entities frequently audit financial statements to assure they are precise and for reasons related to taxes, financing, or investments. The balance sheet, income statement, and cash flow statement are the three main financial statements for Businesses. Let us get into what each of them consist of. What is a Balance Sheet? A balance sheet is a summary of a company’s assets, liabilities, and shareholders’ equity. The Balance sheet gives insight about your business and its operations. Assets include two categories which are current and non-current assets. Current assets are cash equivalents, Accounts receivables, inventory, and prepaid expense. Non-current assets are properties,