What is profile and loss stament c What is cash flow statement What is balansheet What is Aging analysis and accrual entries?

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Accepted Answer

Financial statements and analysis tools used in financial reporting and decision-making.

Profit and Loss Statement (P&L): Shows a company's revenues, expenses, and profits over a specific period of time.
Cash Flow Statement: Reports a company's sources and uses of cash during a specific period, showing how changes in balance sheet accounts and income affect cash and cash equivalents.
Balance Sheet: Provides a snapshot of a company's financial position at a specific point in time, showing assets, liabilities, and shareholders' equity.
Aging Analysis: Examines the age of outstanding receivables or payables to assess the creditworthiness of customers or vendors.
Accrual Entries: Adjustments made to recognize revenues and expenses in the period they are earned or incurred, regardless of when cash is exchanged.

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