Once upon a time, a fox named Nancy was running a bakery. She thinks to herself...
I am stressed out about keeping track of these finances. I wonder who can I ask for help? Oh! I know where to go!
Nancy goes to see her accountant friend, Peter the Porcupine at his shop. Nancy asks Peter...
I need your help! I am stressed out about keeping track of my bakery’s finances.
And that's when Peter the Porcupine tells her...
Nancy, you need to learn... the three different types of financial statements!
The Three Different Types of Financial Statements
- Income Statement
- Balance Sheet
- Cash Flow Statement
First, Peter the Porcupine explains to Nancy what an income statement is.
The top line of the statement shows the total amount of money you get when you sell stuff. This is called "revenue." Revenue is important because it shows how much money you make in the bakery before any costs are taken away.
"Operating revenue” is the money you make from running the bakery. Looking at operating revenue makes it easier for us to see how successful the bakery has been.
- Income Statement
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Once upon a time, a fox named Nancy was running a bakery. She thinks to herself...
I am stressed out about keeping track of these finances. I wonder who can I ask for help? Oh! I know where to go!
Nancy goes to see her accountant friend, Peter the Porcupine at his shop. Nancy asks Peter...
I need your help! I am stressed out about keeping track of my bakery’s finances.
And that's when Peter the Porcupine tells her...
Nancy, you need to learn... the three different types of financial statements!
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