Financial statements are essential tools that provide a comprehensive view of an organization's financial performance, position, and cash flows. This abstract explores the practice of financial statement preparation and analysis, highlighting its importance in decision-making, financial reporting, and external communication. It covers key elements of financial statements, such as the balance sheet, income statement, and cash flow statement, as well as the principles and standards that guide their preparation. Additionally, it discusses the significance of accurate and transparent financial reporting in fostering investor confidence and supporting informed business decisions. Financial statement practice involves the preparation, presentation, and analysis of financial information to provide stakeholders with a clear understanding of an organization's financial health and performance. The balance sheet, also known as the statement of financial position, presents the organization's assets, liabilities, and shareholders' equity at a specific point in time. It helps assess the organization's solvency, liquidity, and capital structure.
[Dr. Muralidhar Sunil (2022) A Discussion on Financial Statement Practice] (ISSN 2347 - 5552). www.ijircst.org
Dr. Muralidhar Sunil
Assistant Professor, Master In Business Administration (General Management), Presidency University, Bangalore, India,
Email Id:- sunilrashinkar@presidencyuniversity.in
