in the case of reporting the financials of intangible assets such as a logo or a trademark, it can bewidely inaccurate. simply because intangible assets can have a cost that does not represent the value of its message branding. the cost to physically create a logo does not accurately represent its historical value. however, there are instances where the intangible recorded in financial reports will represent high dollar amounts. in those cases, the intangible was acquired from another company for an agreed amount of money

Balance sheets are a collection of records that demonstrate the financial standing of your business at a given period. They provide important information regarding the assets and debts of your business as well as its earnings and expenses. Balance sheet, income statement, cash flow statement, and statement of comprehensive income.

What are included in financials?

The financial statement, the net income, and the statement of cash flow are the three primary forms of financial statements. Together, these three statements display a company's assets, liabilities, revenues, expenses, and future revenues from financing, employing, and operating operations.

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