The comprehensive financial analysis that seemed the easiest for me was creating a financial statement for a business. For any business, this is a written report that shows a business's financial condition and performance over a certain period. The financial statement includes a balance sheet report which provides a snapshot of the value of assets, liabilities, and equity at any point in time. Also, the profit and loss report summarize income, expense, and net profit over a specified period of time. A financial statement allows a company to examine the cash flow of the entire business in and out. Each of these terms is familiar to me through my experiences in the financial industry where I currently work.

The most difficult part of financial analysis for me during this course was investments to support the business unit strategy or strategies as well as thefuture profitability and competitive performance of the business. At the time of the assignment, I was not familiar with the choices that are made by a company to ensure that they will be able to be successful and create a profit for the business. Companies must always be looking to ensure that they are making the best decisions for the business for now and in the future.

With that in mind, I was able to understand the impact of assets and liabilities both being considered with a company is making these decisions.

In the future when looking at my personal finances I will definitely try to utilize the importance of using the ability to see what assets and liabilities my family has to create a successful household that can be more responsible for our future goals. Making a balance sheet is an idea that can help me and my wife with hopes of becoming business owners.

Using these factors can positively contribute to long-term financial health with careful consideration of potential risks, and the ability to adapt to changing economic conditions. I was surprised to learn that not only when you own a business you must generate sales for income, but you must make decisions for the future success of your business.

Reference:

financial statement - Search (bing.com)

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