Understanding Financial Reports

In most businesses, the accounting department or controller's office is required to produce certain financial reports on a regular basis. Typically, these reports are produced at the end of a period or fiscal year. To compare current period and year-to-date amounts to amounts for the same period in the prior year, you can print an income statement. To assess your company's financial position, you can print a balance sheet.

Financial reports combine information from the Business Unit Master (F0006), Account Master (F0901), and Account Balances (F0902) tables.