Review:
Financial Statements
overall review score: 4.5
⭐⭐⭐⭐⭐
score is between 0 and 5
Financial statements are formal records of the financial activities and position of a business, person, or other entity.
Key Features
- Balance sheet
- Income statement
- Cash flow statement
- Statement of changes in equity
Pros
- Provide valuable information for decision-making
- Help in analyzing and evaluating the financial performance of an entity
- Required for regulatory compliance and reporting purposes
Cons
- May be complex and difficult to understand for laypersons
- Subject to manipulation or misrepresentation by unethical individuals or organizations