Using the Trends Statement Selector
Follow this video to understand and utilize the statement selector on the Trends pages:
Trends Statement Selector
To choose which financial statement to view, use the Trends Statement Selector. There are five financial statements you can choose from.
The summarized income statement shows your income statement, also known as a profit and loss statement or P&L. CFO Scoreboard removes all the detailed accounts so that you can spot the big picture trends in your financials.
The detailed income statement includes all of the accounts in the income statements you have uploaded. It provides a great way to dig in and spot individual expense items that might be growing too large or getting out of hand.
The balance sheet allows you to view trends on your balance sheet in a way that very few business owners ever see.
There are two cash flow statements – one calculated using the direct method and one calculated using the indirect method. The direct method shows you cash flow from the operations, investing and financing activities of your business. The indirect method tells the same story, but in a different way. It shows only your operating cash flow and it gives you great optics to see how that operating cash was generated. The indirect method of calculating operating cash flow focuses on how the changes to your balance sheet accounts affect your operating cash flow in positive or negative ways.