What are the BASIC financial Statements?

1. Statement of Income. 

2. Statement of financial position. 

3. Statement of changes in equity. 

4. Statement of cash flows.

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they are

1. Statement of Income. 

2. Statement of financial position. 

3. Statement of changes in equity. 

4. Statement of cash flows.

Other financial Statement are not BASIC

The basic financial statements of an enterprise include the 1) balance sheet (or statement of financial position), 2) income statement, 3) cash flow statement, and 4) statement of changes in owners' equity or stockholders' equity. The balance sheet provides a snapshot of an entity as of a particular date.

• A statement of comprehensive income for the period• A statement of financial position at the end of the period  • A statement of changes in equity for the period• A statement of cash flows for the period• Notes, including a summary of significant accounting policies and other information

Financial Statements include: 

1) Income Statement

2) Balance Sheet

3) Statement of Other Comprehensive income

4) Statement of changes in Owners' equity

5) Cash flow statement 

Financial statements are formal records of business’ financial activities; they provide a summary (short and long term) of business' financial condition. The four basic financial statements are

• Income statement: The bottom line subtracting costs from revenue to come up with net profit;

• Balance sheet: A financial snapshot that shows what company own, what company owe, and what company is worth;

• Cash flow statement: A cash monitor that follows the flow of cash in and out of the company;

• Budget: Business' financial forecast that indicates where company plan to make and spend money.

Basic, I think, Income Statement and Balance Sheet.

We prepare Owners Equity and Cashflow Also

1 - Balance Sheet

2 - Income Statement

3 - Statement of Changes in Owners Equity

4 - Statement of Comprehensive income

5 - Statement of Cash flow

income statement

balance sheet

statement of changes in equity

statement of cash flow

Financial position and balance sheet

income list

And the statement of cash flows

List of change in shareholders' equity

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