Business Finances -

Provides a snapshot of what the business owns (assets), what it owes (liabilities), and the owner's equity at a specific point in time.

Tracks the movement of cash in and out. It is critical for ensuring liquidity, as a profitable business can still fail if it runs out of cash to pay immediate bills. 2. Strategic Financial Planning business finances

Summarizes revenue and expenses over a specific period to determine net profit or loss. Provides a snapshot of what the business owns

Every business must master three core reports to understand its financial health: what it owes (liabilities)