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A written report of an individual or company's financial or other relevant data. A prime example is the annual report that a publicly-traded company is required to distribute to shareholders. The report contains information on the company's financial state, such as operational income and net profit. Sometimes it also contains an accountant's opinion on the general health of the company. Occasionally, statements are distributed at irregular intervals to explain a major event in the company. See also: Balance sheet.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Explanations of various types of income, deductions, and/or credits reported on a schedule or directly on Form 1040. Statements may or may not be official IRS forms.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
* The primary purpose of financial statements should be to reflect management's stewardship to existing stockholders.
Now its time to sit back and relax while other companies struggle to finish implementing FASB Statement no.
In its more detailed aspects, this format at least began to resemble an itemized balance sheet and income statement, which are now the standard with regard to all financial statements.
The committee believes that these recommendations will help restore confidence in published financial statements, the financial reporting process and the work of independent auditors.
a) Father Prieur says that it must be noted that none of the Statements of the Canadian Bishops were ever subjected to any kind of correction by Rome.
The AICPA's Accounting and Review Services Committee has issued Statement on Standards for Accounting and Review Services No.
QA What type of information is included in a mission statement? How long should it be?
Here's why: Contrary to popular opinion, mission statements are not for public consumption.
The authors wanted to find out whether two elements of statement analysis can identify accurate and complete statements.
First, mission statements only can be effective as opening salvos in a real turnaround process.
Even though the Australian states decided against adopting a common national curriculum, each state is implementing Student Outcome Statements that are based largely on the original national curriculum.
They may be sued for fraud or gross negligence if the third party could be expected to rely on fraudulent financial statements.

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