Financial statement

Formal record of financial activities

In finance and accounting, financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. They typically include four basic financial statements accompanied by a management discussion and analysis: A balance sheet reports on a company's assets, liabilities, and owners' equity at a given point in time.

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