Financial statements are essential tools for evaluating performance and planning. Companies can use:

  • •The Income Statement: To identify revenue trends, control expenses, and measure profitability.
  • •The Balance Sheet: To assess debt levels, cash reserves, and asset management.
  • •The Cash Flow Statement: To monitor liquidity, plan investments, and ensure sufficient cash for operations.

By analyzing these statements regularly, companies can identify growth opportunities, reduce inefficiencies, and create data-driven budgets or forecasts.