These lessons cover the three most important financial statements. The balance sheet is a snapshot in time of a company's sources and uses of funds. The income statement explains for a period of time how a series of costs reduce revenues to profits. The statement of cash flows starts with the income statement's "bottom line" profit and explains the impact on cash flow during the period of operating, investing, and financing activities.
After exploring connections among the financial statements, the lessons conclude with attention to recording systems for processing business transactions into financial statements.