Financial Statements

Definition

Financial Statements is a collection of disclosures, typically by incorporated legal entities

Common Financial Statements

• The Balance Sheet or Statement of Financial Position offers a snapshot of a company's assets and liabilities at a given point in time.
• The Income Statement or profit and loss report (P&L report)
• The Cash Flow Statement reports on an entity's Cash Flow
• The Statement of Comprehensive Income, or statement of revenue & expense
• The Statement of Changes in Equity or statement of equity, or statement of retained earnings