Hi, I need help with essay on Reporting results. Paper must be at least 250 words. Please, no plagiarized work!
Financial results, information, and conclusion may be reported in balance sheets, activity statements, and cash flow statement amongst others.
The information on the balance sheet, activity statement, and cash flow statements are connected. Whereas balance sheet provides the financial position of an organization, activity statement provides the reports on the entitlements and obligations in respect to taxation and cash statement flow projects, the cash inflow and outflow within organizations (Finkler, 2010). The cash flow statements of organizations are derived from balance sheets and activity statements. On the other hand, taxation entitlements and obligations as obtained from activity statements are derived from expenses that dependent on cash availability portrayed within the balance sheet (Finkler, 2010). In addition, the changes in stock as illustrated by balance sheet are used within activity statements to calculate the income of the organization for tax entitlements and obligations.
From the above explanations there is enough evident that the information in balance sheet, activity statement, and cash flow statements are connected and not independent and some allude. The financial statements heavily borrow from each