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== Relationship Between Financial Statements ==
The set of [[Financial Statements]] is a collection of disclosures, typically by incorporated legal entities. The precise composition (number, title and content of financial statements) is part of the [[Financial Reporting Standards]] under which an entity is Reporting its financial condition. A typical set<ref>IAS 1: Presentation of Financial Statements</ref> includes:

* 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 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


These reports all reflect different aspect of the same underlying financial and economic reality and are thus related but in substance and in form.

== References ==
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[[Category:Financial Statements]]