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How was the financial position controlled in states? |
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Answer»
Relevant FINANCIAL information is presented in a structured manner and in a form which is easy to UNDERSTAND. They typically include four basic financial statements accompanied by a management discussion and analysis:[2] A balance SHEET or statement of financial position, reports on a company's assets, LIABILITIES, and owners equity at a given point in time. An income statement—or profit and loss report (P&L report), or statement of comprehensive income, or statement of revenue & expense—reports on a company's income, EXPENSES, and profits over a stated period of time. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period. |
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