What financial statements are involved when posting accounting entries?
February 9th, 2010 | by admin |keith asked:
P&L statement, Balancesheet & cashflow statements. I know the entry will determine which statement is affects. But is there any other financial statement we have to post entries to?
P&L statement, Balancesheet & cashflow statements. I know the entry will determine which statement is affects. But is there any other financial statement we have to post entries to?
One Response to “What financial statements are involved when posting accounting entries?”
By Frank112 on Feb 10, 2010 | Reply
Accounting entry postings affect the Balance Sheet, Income Statement and statement of retained earnings (dividend liabilities and distributions) directly. The cash flow statement is something that you create seperately and is an indirect part of the financials.