Here are the main financial sheets that are prepared by most companies. These examples should answer the question, “what is a financial statement?” We’ll also talk about some extra styles of statements and other reports that are commonly issued. Use the sheet for monthly, quarterly, and annual tasks. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Once you have your Balance Sheet completed, you're ready to write a brief analysis of each of the three financial statements. When you're writing these analysis paragraphs, you want to keep them short and cover the highlights, rather than writing an in-depth analysis. I believe if you utilize all of the information and reports provide by the material and methodology the end result will be fewer questions and smoother operations. From this starting point, we can add or subtract the operating activities reported on the income statement. This includes all revenues and expenses that the company incurred during the year.