37+ Cash Flow Statement Vs Balance Sheet Pictures . The balance sheet equation above must always be in balance. A balance sheet is prepared for a specific date, usually after the completion of the financial year, whereas cash flow statement is made for a particular period. How the Three Financial Statements Fit Together - Newyork ... from newyorkcityvoices.org In financial accounting, the balance sheet and income statement are the two most important types of financial statements (others being cash flow changes to finances over a particular period. The cash flow statement takes the net profit from the income statement and accounts for changes in the amount of equity in the business shown on the balance sheet. Income statements, balance sheets, and cash flow statements are important financial documents for all businesses. Balance sheet, income statement, and cash flow statement. These i...