Financial statements are essential documents for any small business. They provide an organized and detailed overview of the company’s finances, including assets, liabilities, cash flow, sources of income, expenses, and net income. By understanding these documents, you can analyze the health of your business, identify areas of growth or decline, and make decisions based on the information available. In today’s fast-paced world, gaining an accurate financial picture is critical if you want to remain competitive and succeed in a marketplace filled with changing factors. Financial statements provide that lens.