Friday, 18 September 2009

Financial Statements

How Many Financial Statements There are?

There are four Financial Statements They are:
1. Balance Sheet.
2. Income Statement.
3.Cash flow statement.
4. Statement of Changes in Owners Equity.
** In case of Banking Financial Institution Another statement should be prepared and that is
Liquidity Statement.

Difference between Bookkeeping and Accounting

Accounting as a language of business is a process of three activities i.e. identifying, recording and communicating economic event of an or...