HEALTH CARE FINANCIAL ACCOUNTING.
Balance sheet shows the value of items owned by an organization, amount of debt it owes, the amount of inventory in hand and how much the company has to work with. It shows the financial position of a company at a given date over a given period of time. Income statement shows the organization’s revenue and costs or expenses. It also shows the profit or loss incurred by subtracting all costs, taxes and expenses from revenues. Cash flow statement shows the flow of funds between the company and the outside world. It shows how cash has been used and shows excess cash that can be invested in inventory. It is used to establish whether there is embezzlement of money. Profit and loss account shows the profit or loss made by the business. It shows the financial status of a company for a given period of time.
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