Financial Statements

Financial Statements Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of Financial Statements in a way that is easy for anybody to understand: Presentation of financial data including BALANCE SHEETS, INCOME STATEMENTS and STATEMENTS OFCASH FLOW, or any supporting statement that is intended to communicate an entity’s financial position at a point in time and its results of operations for a period then ended.

What is the meaning of Financial Statements?

A definition of Financial Statements is provided here: Report the success and position (condition) of a firm; they include the income statement and balance sheet.