A financial statement is the lifeblood of any business.
You rely on these financial statements to know the condition, performance and ability to efficiently sustain past and future operations of a particular business.
Review the income statement report to understand the overall performance, profit or loss, of a business in a given period.
Use the Cash Flow Statement to understand the movement of cash in a given period
Check the Statement of Stockholder’s Equity to get the details on the movement of the equity account discussed in the balance sheet above
Look at the Notes to the Financial Statement to read the narrative explanation of the whole financial statement