Financial Statement

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Financial Statement

Any report summarizing the financial condition or financial results of a person or an organization on any date or for any period. Financial statements include the balance sheet and the income statement and sometimes the statement of changes in financial position.

See: account
References in periodicals archive ?
However, financial statements prepared under GAAP are subject to these standards, even for smaller privately held companies.
The primary purpose of financial statements should be to reflect management's stewardship to existing stockholders.
13, Compilation of Specified Elements, Accounts, or Items of a Financial Statement (No.
Questions 1-3 ask about corporate financial statements and publicly traded common stock.
For many reasons, companies prefer strong financial statements depicting an enterprise with a solid balance sheet, steady earnings, and attractive cash flows.
They may be sued for fraud or gross negligence if the third party could be expected to rely on fraudulent financial statements.
The Company has informed its secured credit facility administrator of its intention to restate its financial statements and of its failure to submit its quarterly financial statements timely for the first and second quarters of fiscal year 2007.
The committee believes that these recommendations will help restore confidence in published financial statements, the financial reporting process and the work of independent auditors.
For all other termination benefits, this Statement is effective for financial statements for periods beginning after June 15, 2005.
To determine the limit, it is necessary either to know the earnings permanently reinvested abroad, as disclosed on applicable financial statements, or, if not provided, to determine earnings reinvested abroad from tax information disclosed on such statements.

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