Balance Sheet
A statement of the assets, liabilities, and capital of a business at a particular point in time.
"The balance sheet shows the financial health of the company."
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period.
"The income statement shows how profitable the company was."
Cash Flow Statement
A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents.
"We can see the company's liquidity in the cash flow statement."
Assets
Resources with economic value that an individual, corporation, or country owns or controls with the expectation that they will provide a future benefit.
"The company's assets include cash, inventory, and equipment."
Liabilities
A company's legal financial debts or obligations that arise during the course of business operations.
"The loan is a significant liability on our balance sheet."
Equity
The value of the shares issued by a company.
"Total assets minus total liabilities equals equity."
Revenue
The total amount of income generated by the sale of goods or services related to the company's primary operations.
"The company's revenue increased by 10% last year."
Expenses
The cost of operations that a company incurs to generate revenue.
"We need to reduce our operating expenses to improve profitability."
Profit
A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
"The company made a huge profit this quarter."
Loss
An amount of money lost by a business or organization.
"The company reported a net loss of $1 million."