A financial officer is meant to bring to light any financial issues in a firm

A financial officer is meant to bring to light any

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growth and financial satisfaction of the associated parties. A financial officer is meant to bring to light any financial issues in a firm and advise on the best routes to take to achieve the desired financial success of any entity. Based on the personal understanding of finance, financial reports are records which are formal showing the financial position and activities of a person, business, government or any other entity. These reports are quite essential in the growth and stabilization of a financial entity. The four major types of financial statements crucial to a financial officer are the balance sheet, income statement, statement of cash flows and statement of equity. All financial entities are typically expected to bear all these reports in a given fiscal year. They act as a compass toward a given financial destination. An excellent financial officer is one who knows the financial entity best. The knowledge of a financial entity is brought to light by having access to the financial statements of the entity. Balance sheets statement shows the position of the entity by giving the current assets, fixed assets, liabilities and the long-term funds. From the current and fixed assets, the financial officer can come up with the best financial decisions for the entity to invest in. The current liabilities and long-term funds help the financial officer advise the entity on financing decisions. The
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