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What are the various financial statements a business must have?
There are various financial statements that a business should have and it should be dependent on the size and complexity of the business. For a small or medium sole proprietorship business, just a sales record and expenses record is enough. For a company, you would need a trading account, inventoryRead more
There are various financial statements that a business should have and it should be dependent on the size and complexity of the business. For a small or medium sole proprietorship business, just a sales record and expenses record is enough. For a company, you would need a trading account, inventory accounts and ultimately, a balance sheet as financial statements. And all of these are required by regulation to be submitted by companies.
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