What Are The Various Type Of The Accounts Prepared By The Accountant?
Accounting is the systematic and detailed records of the complete financial statements of a particular business. It helps the people in making the complete analysis regarding the overview of the business in the proper manner. Moreover, it plays the most essential role in the expansion of the business as the person can make the analysis related to the income and expenditure of the business.
There are mainly three statements that are created regarding the accounts of the business:
- Income statement
This is the most important statement as it defines the complete profit and loss of the business in order to make the analysis of the business. the overall profit of the business can be calculated with the help of the income statement
- Balance sheet
This is a sheet in which all the assets and the liabilities of the business are recorded; it helps the person in making the exact picture of the business. The investors get the complete detail regarding the business with the help of the balance sheet.
- Cash flow statement
This is another statement that forms the part of the accounts of the business. in this, the basic net cash inflows and the outflows are recorded in the proper manner that acts as the bridge between the balance sheet and the income statement. This provides the report of the net cash flows of the financial statements.
The above mentioned are some of the accounts that the accountant of the business prepares in making the complete analysis of the business. There are various service providers that are provided such kinds of services to the business enterprise, out of which osaühingu raamatupidamine teens are considered to be the best option due to the quality of their services.