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What Do You Mean By Financial Statement? |
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Answer» A financial statement (or financial REPORT) is a formal record of the financial activities and position of a business, person, or other entity. A balance sheet, also referred to as a statement of financial position, reports on a company's assets, liabilities, and OWNERS equity at a given point in TIME. A financial statement (or financial report) is a formal record of the financial activities and position of a business, person, or other entity. A balance sheet, also referred to as a statement of financial position, reports on a company's assets, liabilities, and owners equity at a given point in time. |
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