Financial reporting tools and analysis include the documents that you compile to monitor business financial finances. The purpose of financial statements is to give a clear picture of your business’s financial health so you can make informed decisions about your company. Use financial statements to learn how well you manage money. Identify things like owner equity, liabilities, asset, income, and company expenses in your financial statements. Make sure to take note of all the various financial reporting tools and standard operating procedures associated with your firm.
There are many different types of financial statements that a CFO can use in order to compile accurate financial reports for your organization. The most common types of financial statements used by a CFO include the following: statement of cash flows, statement of operations, statement of financial condition, and statement of deferred tax assets.