Definition of Financial statement:
A summary report describing how the company has used the resources entrusted to it by its shareholders and lenders and the current financial situation. The three basic financial statements (1) are the balance sheet, which shows the company's assets, liabilities and shareholders' equity at a particular time. (2) Profit and Loss Accounts (also known as Profit and Loss Accounts), which show how we gained from a net business over a period of time. That business activity takes place over a period of time. It is also known as the company's financial statistics.
How to use Financial statement in a sentence?
- Looking at my financial statements, I don't know why I spent so much money in one year.
- Our company distributes annual financial reports to all employees and shareholders to assess the company's financial well-being.
- We prepare financial reports that are presented to senior financial analysts, who review them and make sure they are accurate.
Meaning of Financial statement & Financial statement Definition