Section 4: Overview
At this point, it will be helpful to tie all this information together in the form of a review. Watch the following short video to refresh yourself on the purposes of the financial statements and a summary of what each statement shows.
This video will ask you a critical question to consider towards the end: How do the Income Statement, Statement of Retained Earnings, and the Balance sheet tie together in a self-balancing fashion?
Please consider this as you view the video below.
The Four Statements include:
- The Income Statement,
- Statement of Retained Earnings,
- the Balance Sheet,
- and the Statement of Cash Flows.
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