financial statement

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Related to financial statement: income statement, Financial statement analysis

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.

References in periodicals archive ?
It also recommends implementing these provisions earlier where financial statements have not yet been issued or when other interim financial statements are issued.
Report on Part I, line 11, the consolidated financial statement net income (loss) attributable to M and DS1DS75 (the members of the U.
Before knowing the result of an IRS review of the royalty rate, the company must prepare its financial statements.
For example, in the first scenario discussed above, if the accounting firm knew that the financial statements were to be used to obtain a bank loan, then the accounting firm would be liable to any bank that they specifically knew would rely on the financial statements or could be expected to rely on the financial statements.
These recommendations apply to the conduct of professional accountants and auditors, and the financial statements with which they are associated, for both SEC registrants and for nonpublic companies and organizations with substantial outside capital or public trust.
To determine the limit, it is necessary either to know the earnings permanently reinvested abroad, as disclosed on applicable financial statements, or, if not provided, to determine earnings reinvested abroad from tax information disclosed on such statements.
TEI believes those rules strike the proper balance, requiring disclosure of comprehensive, meaningful information to financial statement users while permitting companies to guard against disclosure of confidential information that might harm companies economically by disclosing negotiation and settlement positions to tax authorities.
Wal-Mart's] financial statements were certified by E&Y as conforming to GAAP without qualification.
Hence, the goal should not simply be to push formatting requirements down to taxpayers (from the IRS), but to reduce the formatting that must be done (or redone) in any event by migrating to a financial statement-based return -- that is to say, a simplified two-page Form 1120 that contains only summary and reconciling information on the ground that other necessary information is set forth in the taxpayer's financial statements.
We on the task force expect that the creation and implementation of private company standards will produce financial statements whose high quality equals that of their public company counterparts," Castellano said.

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