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Financial Statements

Historical Financial Statement

  • reflect past performance
  • prepared on a quarterly and annual basis
  • Required by SEC

Types

Income Statement

Reflects the results of the performance of a firm over a specified period of time. It records all profits and expenditure and shows if the firm is making a profit or is having a loss.

Balance Sheet

Is a snapshot of a company's assets, liabilities and owner's equity at a specific point in time.

Statement of Cash Flows

Summarizes the changes in a firm's cash position for a specified period of time and details why the changes occurred.

Pro Forma Financial Statement

  • Projections for future periods based on forecasts
  • Typically completed for 2 or 3 years in future
  • Just a planning tool