Financial records encompass a variety of documents and statements, including:
- Income Statements: These show the revenue, expenses, and profits over a specific period. - Balance Sheets: These provide a snapshot of the company’s assets, liabilities, and equity at a given point in time. - Cash Flow Statements: These detail the inflows and outflows of cash, helping to assess the liquidity of the business. - General Ledgers: These contain all the company's financial transactions, categorized into accounts.