Income Statement are 2 types, Single step income statement and Multiple step income statement for finding net profit or loss an accounting period.
Financial statements are integrated information of recorded events, accounting conventions and individual judgment capacity.
The financial statements are based on some accounting conventions and concepts which are not easily understandable.
Notes to the financial statements of a company are shown in three groups. These are structural, adopted principles, other related affairs.
Balance sheet in Accounting Process are two types and they are 1. Unclassified balance sheet and 2. Classified Balance Sheet.