Difference between revisions of "Introduction to entrepreneurship/IENT103/Statements/Video"

Revision as of 01:24, 4 January 2019

Video signpost: Financial Statements Explained

Financial statements are important because they outline the financial activities of a business.

There are three financial statements that every business uses.

These are 1) income statement (sometimes called a profit and loss account) 2) balance sheet, and 3) cash flow statement.

This video briefly explains these three statements.

In the following pages we will look at these three statements in more detail.

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 {{IDevice|theme=line|type=media|title=Video signpost: Financial Statements Explained|id=Video|body=
-Financial statements outline the financial activities of a business.
+Financial statements are important because they outline the financial activities of a business.
 There are three financial statements that every business uses.
-These are 1) income statement, 2) balance sheet, and 3) cash flow.
+These are
+) income statement (sometimes called a profit and loss account)
+) balance sheet, and
+) cash flow statement.
 This video briefly explains these three statements.