financial statement

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Financial statement

A report of basic accounting data that helps investors understand a firm's financial history and activities.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Financial statements: The financial statements subject to the engagement performed in accordance with SSARSs are those of the entity The preparation and fair presentation of such financial statements requires identification of the applicable framework.
Moreover, questions raised in our recent stock options project suggested constituents would take more care determining the options expense numbers to be recognized in the financial statements under Statement 123(R) than in the numbers disclosed outside the statements under Statement 123.
Hold training sessions that focus on following a transaction from initiation straight through to the general ledger and financial statements to help less experienced staff members get up to speed quickly.
The real challenge to the consistent determination and reporting of tax liabilities in financial statements, he concluded, lies in the application of complex and nebulous tax rules to myriad facts and circumstances.
SSARS 13 expands SSARS to apply when an accountant is engaged to compile or issues a compilation report on one or more specified elements, accounts, or items of a financial statement.
Questions 4-11 begin with worldwide consolidated net income (loss) from financial statements and reconciles to net income (loss) for includible corporations on line 11.
The restatement provides that accountants will be held liable to individuals actually known to them or intended third-party users of financial statements, including members of a "known or intended class" of users of financial statements.
Another case in point is the FASB's mandate (SFAS 106) that companies use accrual accounting, rather than the pay-as-you-go method, for post-retirement benefits and that obligations accrued in the past be recognized in the financial statements. Meeting this requirement would boost liabilities and cause a corresponding decrease in retained earnings.
The information disclosed in the annual audited financial statement has significant impact on the dealings between potential purchasers, lending institutions and owners and the property.
However, financial statements prepared under GAAP are subject to these standards, even for smaller privately held companies.
Organized to be used as a reference tool, it provides practitioners with practical, though non-authoritative, guidance on nonprofits' financial statements and disclosures.

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