Financial statements are reports that summarize a company's financial position, performance, and cash flow. They provide insights into a company's overall financial health and can be used to decide where to invest, how to grow the business, and how to manage risks.
Read MoreDepreciation is an accounting method used to spread the cost of an asset over its useful life. It allows businesses to gradually recognize an asset's cost over time rather than all at once. This is done by decreasing the asset's value on the balance sheet over its estimated useful life.
Bookkeeping is the process of recording, categorizing, and managing financial transactions of a business.
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