There are four types of Financial reporting:-

• Income statement:- Income statement for the entire reporting period unveils the financial performance of a firm. It starts with the sales and then it DEDUCTS all the expenses which were INCURRED during the period to reach a net profit or net loss.
• Balance sheet: - Balance Sheet displays the financial situation of a business as of the report date (thus it COVERS a precise POINT in time). The info is combined into the general classifications of assets, equity & liabilities.
• Cash flow statement:- Cash flow statement report unveils the cash inflows and cash outflows experienced by a company during the reporting period. These cash flows are actually broken down into three classifications -operating activities, financing activities & investing activities.
• Changes in equity statement: - This report documents all the changes in equity during the period of reporting. These variations include the issuance or the purchase of shares, dividends issued and the PROFITS or losses.