Evaluate and present financial performance: Business Financial Statement
Other Names:
Balance Sheet
What is a Business Financial Statement?
A Business Financial Statement lets your company convey its financial health in a simple, concise way. Internally, you can use a Business Financial Statement to identify trends, discover potential problems, and assess your financial performance. Externally, it can be used when you're looking to get loans from banks or other private lenders. A Business Financial Statement can help your business figure out exactly where the money is going and can really help you streamline your operations.
When to use a Business Financial Statement:
- You want to present your business's finances to a bank or lender
- You want to discover trends and pain points in your business's finances
- You want a concise and easy to read overview of your business's financial outlook
Sample Business Financial Statement
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Income Statement
For the Period to
Sales
| Total Revenue |
General, Selling, and Administrative Expenses
| Materials |
| Salaries and Wages |
| Employee Benefits and Taxes |
| Rent |
| Utilities |
| Outside Services |
| Travel |
| Administration |
| Depreciation |
| Interest |
| Total Expenses |
Tax Considerations
| Profit Before Income Tax |
| Income Tax |
| PROFIT AFTER TAXES (LOSS) |
| Cash |
| Accounts Receivable |
| Inventory |
| Fixed Assets |
| Accounts Payable |
| Notes Payable |
Business Financial Statement FAQs
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How do I make a financial statement?
Making a Financial Statement online is simple. Just answer a few questions, and Rocket Lawyer will build your document for you. We recommend that you have the following information on hand to make the process speedier:
- Total revenue that your business made during the fiscal period starting with the beginning fiscal date to the end fiscal date.
- General, selling, or administrative expenses.
- What was paid in income taxes for the fiscal period starting with the beginning fiscal date to the end fiscal date
If you don't have all of the details you need, you can skip questions, and save your document for later.
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What is included in a business financial statement?
The contents of a business financial statement may vary based on the type of business and the context in which the statement is needed. That said, most financial statements include information about your business income, expenses, and tax obligations.
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What are the 4 types of financial statements?
The four main types of financial statements are:
- Balance sheets - Shows what a company owns and owes during a fixed period of time
- Income statements - Shows how much a company earned and spent over a period of time
- Cash flow statements - Shows how much money is leaving and entering a company over a period of time
- Statements of shareholder's equity - Shows changes in value to a shareholder's equity over a specific period of time
