What Are Financial Statements?
They’re reports that show the financial health of your business. The three main statements are:
- Profit & Loss (P&L) Statement
Shows your income and expenses over a specific period, and whether you made a profit.
Example: If you earned AED 50,000 and spent AED 30,000 → Net Profit = AED 20,000 - Cash Flow Report
Focuses on cash inflows and outflows to help determine if you have enough liquidity to meet obligations. - Balance Sheet
Gives a full view of your assets (what you own), liabilities (what you owe), and net worth (your equity).
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