A cash flow statement is a financial report that provides a summary of the cash inflows and outflows of a business over a specific period. It helps stakeholders understand how cash is generated and used in the

An income statement, also known as a profit and loss statement (P&L), is a financial report that summarizes a company's revenues and expenses over a specific period, typically a quarter or a year. Its primary purpose is

In a financial system, a journal is a detailed record of all financial transactions of a business. It serves as the initial point of entry for recording transactions before they are posted to the general ledger. Journals

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It summarizes the company's assets, liabilities, and equity, following the accounting equation: Accounting Equation Assets=Liabilities+Equity\text{Assets}