Financial statements are frequently created at the end of an annual accounting period. These statements offer important information to external users because the financial information is based on a longer period of time and should follow exact reporting guidelines. Still, a monthly financial statement can notify internal users regarding recent financial activity. These statements can be appropriate in recognizing trends and addressing problems without having to wait months for the year-end financial statements.
A company's monthly financial statements tell the public how much money the business made in the last four weeks. It also designates important data about the company's revenues and expenses, and whether it efficiently managed its production costs. A complete set of financial statements contain a balance sheet, a statement of profit and loss, retained-earnings and a statement of cash flows.
