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A Study on Financial Performance of AvT Natural Products Limited, Aluva
(2017-04-25T12:00:27Z) Jaison, Johnson
Financial statements are records that provide an indication of the organization‟s financial status. It quantitatively describes the financial health of the company. It helps in the evaluation of company‟s prospects and risks for the purpose of making business decisions. The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions. Financial statements should be understandable, relevant, reliable and comparable. They give an accurate picture of a company‟s condition and operating results in a condensed form. Reported assets, liabilities and equity are directly related to an organization's financial position whereas reported income and expenses are directly related to an organization's financial performance. Analysis and interpretation of financial statements helps in determining the liquidity position, long term solvency, financial viability, profitability and soundness of a firm. There are four basic types of financial statements: balance sheet, income statements, cash flow statements, and statements of retained earnings.