Question

Financial Statements Financial s and statements includes Statement of changes in equity, Income Statement, Balance sheets, Cash flow and etc. Under Income statement we record all income and expense to find out the profit or loss of the business, under Balance sheet we record asset, liabilities and owner's equity, statement OF CHANGE EQUITY we record the beginning and closing capital balances, Net profit, Retained earnings AND dividends; Under Cash flow we record only cash items that means cash in and cash outflow.

Tesfanesh Kassa Debusho 27 Jun 2020

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