Making the most of your company’s financial statements
Abstract: A company’s financial statements are the bellwether of its cash flow. Each report offers information regarding the financial position and performance of the business. Moreover, they can help one uncover potential money-management problems and fraudulent activity. This article looks at some of the intricacies of the balance sheet, income statement, and statement of cash flows. A sidebar notes the difference between the LIFO and FIFO inventory reporting methods.