Financial Statements: Reading Between the Lines
Financial statements are an important tool to help better understand either your personal financial success or failure, or that of a business. Generally, financial statements communicate what money is coming in, what money is going out, and where money is now. Namely, there are four main kinds of financial statements, which include: balance sheets, income statements, cash flow statements, and statements of shareholder’s equity. Although they can seem daunting, financial statements can provide efficient and useful information – if you know where to look!