basic financial statements definition

basic financial statements

Accounting reports compiled in conformity with the provisions of GAAP, and necessary for the fair evaluation of operations of an entity. For businesses, the balance sheet, income statement (profit and loss account), and the cash-flow statement make up the set of basic financial statements.

basic financial statements is in the Accounting & Auditing, Banking, Commerce & Finance and Investing subjects.

basic financial statements appears in the definition of the following term: financial statement

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