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financial statement

   Also found in: Dictionary/thesaurus, Legal, Acronyms, Wikipedia 0.01 sec.
Financial statement
A report of basic accounting data that helps investors understand a firm's financial history and activities.

Financial Statement
Any list of the assets and liabilities of a company designed to show its financial health, profits or losses, and/or other variables. The two most common financial statements are the balance sheet and the income statement. Publicly-traded companies and some others are legally required to publish certain financial statements.

financial statement
A report providing financial statistics relative to a given part of an organization's operations or status. The two most common financial statements are the balance sheet and the income statement. See also comparative financial statements.

financial statement

A semi-itemized list of the assets and liabilities of a person or entity as of a point in time,and the revenues and expenses over a representative month or over a period of time such as one year. Do not confuse with financing statement.



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Financial statements are considered issued when they are widely distributed to shareholders and other financial statement users for general use and reliance in a form and format that complies with GAAP (U.
Ittelson explicitly instructs the non-fiscally trained business manager on how to create a financial statement, including cogent explanations of how balance sheets, income statements, and cash flow statements combine to provide accurate and accessible information delineating a company's fiscal status so fundamentally important for decision making.
As the move toward convergence of accounting standards continues, the International Accounting Standards Board and FASB published for public comment Preliminary Views on Financial Statement Presentation that would establish a standard to guide the organization and presentation of information in financial statements and improve how companies communicate financial statement information to financial statement users.
 
 
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