Reporting - Entity process

Reporting uses financial statements to show the financial health of an entity during a specific period. This information supports management in considering an entity's future and reveals an entity's profitability and financial stability to capital providers such as creditors or investors.

In the Reporting section, these financial statements are used:

• Balance sheet: An overview of an entity's assets, liabilities, and stakeholders' equity in a specific period.
• Income statement: An overview of an entity's expenses and revenue in a specific period.

In Financial Consolidation, all financial data is stored only as YTD. In some reports, for example, in the Entity Income Statement report, you can enable the Current period -1 analysis column, which contains a YTD value of a period prior to the selected period. In a difference column, you can view a periodic value that results from the difference between a prior YTD period and a selected YTD period.