Which financial statement covers a period of time? - ProProfs Discuss
Advertisement

Which financial statement covers a period of time?

Asked by Kweku, Last updated: Sep 17, 2021

+ Answer
Request
Question menu
Vote up Vote down

1 Answer

W. Mocroft

W. Mocroft

Love to do some charity work. Have a passion for writing and do it in my spare time

W. Mocroft
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.

upvote downvote
Reply 

Advertisement
Advertisement
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader

Email Sent
We have sent an email to your address "" with instructions to reset your password.