The financial statement composed of a Balance sheet and Income Statement. In making business study you need to learn what is financial statement all about. First thing you need to know what is balance sheet? The balance sheet has an asset= liability + capital, while the Income Statement means you need to learn how much your income or losses using your balance sheet information. Income statement has revenue or the sales (-) your expenses = net income. This is only the basic concept of accounting that need everyone to learn and every business starter need to know. For those who do not know financial statement see this video.
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