Financial report is also referred as financial statement. This is a type of written report that can explain the business people about how the company or the firm uses and distributes the fund they obtained. The financial reports are done by the businesses and companies periodically. These generated reports will contain the detailed information about the business with more accuracy. Financial reports include cash flow statements, income statements and the statement of balance and capital sheets. Income statements are reports that list the expenses and revenues from the operation of the business over particular period of time. This type of financial report can help the business to check out the bottom line of the business. Revenues represent the net income and the expenses represent the net loss. As per the procedure of business, this financial report is produce quarterly, monthly and yearly.
Cash flow statement is the type of financial reports that implicates all the sources of the company or business uses during the period of accounting. Some of the cash flow sources are long term financing, sales of assets that are noncurrent and the revenues.
Increase in the liability account and the decrease in the current asset account are also reported in this type of report. Other data that are included in this type of report are operating losses, equipment purchases and debt repayment. Balance sheet is the type of financial report that has the equation of the assets equal liabilities and the equity of the owner. This type of report includes all about the company, what it owns and value of the ownership stake in the equity of the company and the debts incurred.
Balance sheet is also known as the statement of the financial condition. This shows the financial position of the company and business at a particular period during the operation of the company or business. Statement of capital is one among the types in the financial reports. This type of report shows the change made in the capital accounts of the owner over certain period of time. The capital accounts displays the amount of assets and the funds invested in the business by the stockholders and the owners over certain period of time. A business owner can see how much of business or company he truly own with the help of this report. In general, this type of report is prepared by the business or company after the income statement is done.