Some consider the statement of stockholders equity also. In the true sense, explanatory footnotes should also be called as financial statements. Managerial accounting information provides a data-driven look at how to grow a small business.
Most mid- to large sized organizations have a strategic plan that guides the organization in successfully meeting its mission. In summary financial planning is the forecast of the future, building a model of active, desired and planned future financial situation of the enterprise with simultaneous construction of roads, installation tools and timing to achieve this state, and end boundaries of the planned actions. There are three basic types of financial statements viz. balance sheet, income statement, and cash flow statement.