How often should financial statements be prepared?

Financial reporting involves four primary financial statements, which are regularly disseminated on a quarterly and annual basis. Some companies also generate monthly reports for internal evaluations during month-end closing procedures. These essential financial documents serve to convey critical financial data. The quartet of statements comprises the income statement, which outlines revenue and expenses, the balance sheet, providing a snapshot of assets and liabilities, the cash flow statement, delineating cash movements, and the statement of retained earnings, elucidating changes in shareholder equity. Together, they offer comprehensive insights into a company’s financial health and performance.

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