The financial statements of Company are formal annual reports through which firm disseminates its financial information to various stakeholders like owners, investors, tax authorities, employees etc. There are three types of financial statements: Balance Sheet, Profit and Loss statement, Cash flow statement. There are some basic accounting principles followed for Preparation of Financial Statement

In this video, you will be going to understand:
Financial Statements
Objectives of Financial Statements
Types of Financial Statements
Functions of Financial Statements
6 Accounting Principles and Concepts

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This video also covers the financial statements for class 11th.
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