Financial statement
Financial Statement
A Financial Statement (pronunciation: /ˈfaɪnænʃəl ˈsteɪtmənt/) is a formal record 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 easy to understand. They typically include basic financial information such as balance sheets, income statements, and cash flow statements.
Etymology
The term "Financial Statement" originates from the Latin word "financia", meaning "money matters", and the Old French "estat", meaning "condition" or "status". The combination of these words gives us "Financial Statement", which essentially means "the condition of money matters".
Related Terms
- Balance Sheet: A financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time.
- Income Statement: A financial statement that shows how much revenue a company earned over a specific time period.
- Cash Flow Statement: A financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.
- Statement of Changes in Equity: A financial statement that presents a summary of the changes in shareholders' equity accounts over the reporting period.
- Notes to Financial Statements: Additional information provided in a company's financial statements, which provide further detail on specific line items in the financial statements.
See Also
External links
- Medical encyclopedia article on Financial statement
- Wikipedia's article - Financial statement
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