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Financial Reporting

What is Financial Reporting?

šThe formal recording of the financial activities of your small business into accounting reports and/or financial statements including:

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  • Balance Sheet: Snapshot of Assets, Liabilities, and Owner’s Equity

  • šStatement of Changes in Equity: Display Ownership over the business after debt and liabilities are paid off.

  • šIncome Statement: Reports Revenue and Expenses, profit & loss statement

  • šCash Flow Statement: Cash spent on Operating, Financing, and Investing Activities

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Microsoft Excel is a spreadsheet editor that is used for data analysis, perform calculations and is totally free. 

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FreshBooks provides support to small businesses who have challenges managing their finances, keeping records for taxation, decision making and analysis of products or services. FreshBooks helps reduce errors and representation to third parties including investors, shareholders, creditors, and customers. 

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QuickBooks is an accounting software package developed and marketed by Intuit. QuickBooks products are geared mainly toward small and medium-sized businesses

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