Financial Statements
/ˌfaɪnænʃəl ˈsteɪtmənts/
Definitions
- (n.) Formal records presenting a company's financial activities, including balance sheet, income statement, and cash flow statement, used for legal compliance and audit purposes.
The corporation submitted its financial statements to comply with regulatory requirements.
Forms
- financial statement
Related terms
See also
Commentary
Financial statements must be prepared in accordance with applicable accounting standards and often require audit or review to satisfy legal and regulatory scrutiny.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.