FINANCIAL STATEMENT INSIGHTS

Financial statements (or financial reports) are formal records of the financial
activities and position of a business, person, or other entity.
A report that shows the financial activities and performance of a business.
A collection of summary-level reports about an organization's financial results,
financial position, and cash flows ...set of documents that show your company's
financial status at a specific point in time.
These statements help the users of the information in determining the financial position,
liquidity and performance of the organization. The purpose of the financial statements
is to provide information about the results of operations, financial position, and
cash flows of an organization. This information is used by the readers of financial
statements to make decisions regarding the allocation of resources.
They show profits and liabilities of the business. They show how successful a
company's decisions have been. Since shareholders have access to these statements,
they can gauge their company's performance.