The holder of an MBA from the University of Southern California Marshall School of Business, James Kasim is the chief financial officer and treasurer of a commercial real estate company. A Certified Public Accountant, James (Jim) Kasim is responsible for the company’s financial statements.
Reports that indicate various aspects of a company’s health and performance, financial statements come in different types, each prepared for a different purpose. Here are three of the most common financial statements:
- Income statement. Showing the fiscal performance of a company over a period of time such as a year, the income statement is a calculation of a company’s net profit or loss, derived by subtracting total expenses from total sales. For public companies, the income statement also reveals earnings per share.
- Balance sheet. Indicating the fiscal health of the company at a given time, the balance sheet enumerates a company’s assets, liabilities, and equity.
- Statements of cash flow. Showing the cash that came in and went out of the company in a given period, statements of cash flow are associated with operating, investing, and financing activities.
Reports that indicate various aspects of a company’s health and performance, financial statements come in different types, each prepared for a different purpose. Here are three of the most common financial statements:
- Income statement. Showing the fiscal performance of a company over a period of time such as a year, the income statement is a calculation of a company’s net profit or loss, derived by subtracting total expenses from total sales. For public companies, the income statement also reveals earnings per share.
- Balance sheet. Indicating the fiscal health of the company at a given time, the balance sheet enumerates a company’s assets, liabilities, and equity.
- Statements of cash flow. Showing the cash that came in and went out of the company in a given period, statements of cash flow are associated with operating, investing, and financing activities.
