Love to do some charity work. Have a passion for writing and do it in my spare time
W. Mocroft, Philanthropist, Master Degree in International Business, Las Vegas
Answered Nov 27, 2018
A balance sheet reports a company's assets, liabilities and shareholders' equity at a specific point in time. In the case of an income statement, this reports a company's financial performance over a specific accounting period.
This is also true of the statement of cash flow which is calculated by making certain adjustments to net income by adding or subtracting differences in revenue, expenses and credit transactions. It is one of the 3 key financial statements that reports the cash generated and spent during a specific time period.