Balance Sheets: We prepares balance sheets, which provide a snapshot of the company’s financial position at a specific point in time. These statements show assets, liabilities, and equity. Income Statements (Profit and Loss Statements): These statements summarize revenues, expenses, and net income over a specific period (usually a quarter or a year). They reveal the company’s profitability. Cash Flow Statements: We creates cash flow statements, tracking the movement of cash in and out of the business. These statements are crucial for assessing liquidity and cash management.