report containing financial information about an organization. The required financial statements are balance sheet, income statement, and statement of changes in financial position. They may be combined with a supplementary statement to depict the financial status or performance of the organization. An example of a supplementary statement is an inflation-adjusted financial statement. Some supplementary material is required only for publicly held companies.
report summarizing the financial condition of an individual, partnership, or business organization. Statements that bank lenders use most often in making loans are the balance sheet (assets, liabilities, and net worth as of a certain date); the income statement summarizing income and expenses; and the statement of cash flows summarizing the sources and uses of funds in a given year.
written record of the financial status of an individual, association, or business organization. The financial statement includes a balance sheet and an income statement ( or operating statement or profit and loss statement) and may also include a statement of changes in working capital and net worth.
written record of the financial status of an individual, association, or business organization. The financial statement includes a balance sheet and an income statement (or operating statement or profit and loss statement) and may also include a statement of cash flows, a statement of changes in retained earnings, and other analyses.
balance sheet and profit and loss statement of an insurance company. This statement is used by State Insurance Commissioners to regulate an insurance company according to reserve requirements, assets, and other liabilities.
one that shows income and expenses for an accounting period, or assets, liabilities, and equity as of a point in time.
Example: Table 24.
