What is the meaning of Financial Statement?

Financial Statement is a summary of facts showing an individual's or company's financial condition. For individuals, it states their assets and liabilities as of a given date. For a company it should include a Profit and Loss Statement (P&L) for a certain period of time and balance sheet, stating assets and liabilities as of a given date.

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APABarry Goldsmith. (2010). financial statement. Retrieved September 20, 2026, from http://smartdefine.org/financial_statement/definitions/1153997
ChicagoBarry Goldsmith. 2010. "financial statement" http://smartdefine.org/financial_statement/definitions/1153997 (accessed September 20, 2026).
HarvardBarry Goldsmith 2010, financial statement, Smart Define, viewed 20 September, 2026, <http://smartdefine.org/financial_statement/definitions/1153997>.
MLABarry Goldsmith. "financial statement" 21 October 2010. Web. 20 September 2026. <http://smartdefine.org/financial_statement/definitions/1153997>
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