The General Accounting Standard defines financial statements as "a structured financial representation of the events affecting an enterprise and the transactions carried out by it".
The objective of financial statements is to provide information about the financial position, performance and cash flows of an enterprise that is useful to a wide range of users in making economic decisions.
This information may concern the state of the company's financial structure, the composition of its assets, the evaluation of its performance and the measurement of its profitability. It enables us to provide precise information not only to the company's management, but also to its partners and third parties.
Financial statements provide a clear, structured summary of the events that have affected a company throughout its existence, as well as the transactions it has carried out with third parties. These tools make it possible to
- Carry out precise analyses, particularly in the context of business takeovers, company valuations, mergers, demergers or asset transfers
- Make comparisons over time (from one year to the next)
- Space comparisons (with a competitor in the same sector)
- Making economic decisions
And in KAFINEA? #
The various financial statements are available via the following path: Finance > Accounting tab Financial statements:
- Balance
- Big Book
- Simplified income statement
- Income Statement
- Balance sheet
- Simplified balance sheet
- Appendices (Coming soon)
Balance and General Ledger allow you to navigate to the documentsinvoice, payment, manual entry) that make them up.
In the case of income statements and balance sheets, it is possible to zoom from the amounts shown to their breakdown and access the details of the accounting account(s) concerned. Any necessary adjustments are then automatically reported in the accounting statements. A simple screen refresh displays the new adjusted amounts.