PROFIT and LOSS ACCOUNT: over a period of time, begins with total sales, total sales = revenues, revenue generated over a period of time, overview on financial productivity, BALANCE SHEET: on a specific date, assets, anything that a company owns, liability, anything that is owed to a company, shareholder's equity, how easily assets can be turned into cash, how quickly creditors have to be paid, overview on financial position, CASH FLOW STATEMENT: it shows the real cash that is available, a record of cash receipts and cash payments, statement on financial flows, operational, investing, financial,

ACCOUNTING AND FINANCIAL STATEMENTS

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