Financial Statements - Introduction

Financial statements are used to show the financial position of an individual or a business. There are differences in financial statements drawn up for an individual versus those drawn up for a business, but they essentially follow the same format and provide the same type of information, summarizing income, expenses, assets and liabilities.
Personal Financial Statements


Related Articles
  1. Professionals

    Financial Statements

    Financial Statements
  2. Professionals

    Financial Statements

    Financial Statements
  3. Investing Basics

    12 Things You Need To Know About Financial Statements

    Discover how to keep score of companies to increase your chances of choosing a winner.
  4. Investing Basics

    What are Financial Statements?

    Financial statements are a picture of a company’s financial health for a given period of time at a given point in time. The statements provide a collection of data about a company’s financial ...
  5. Forex Education

    Accounting Basics

    What is accounting? Learn the basics of this essential way of recording and summarizing financial information.
  6. Professionals

    Personal Financial Statements

    Personal Financial Statements
  7. Professionals

    Introduction

    We look at different types of financial statements.
  8. Professionals

    Financial Accounting

    Financial accounting is the process of gathering, recording, summarizing and reporting financial data relating to a business. The ultimate goal is to accurately report the financial picture and ...
  9. Term

    Understanding the P&L Statement

    A company’s profit and loss statement, also called its income statement, summarizes its income and expenses for a quarter or year.
  10. Professionals

    The Cash Flow Statement

    CFA Level 1 - The Cash Flow Statement. A brief introduction to the relationship between cash flow and financial statements. Provides a flow chart highlighting the relationship.
RELATED TERMS
  1. Personal Financial Statement

    A document or spreadsheet outlining an individual's financial ...
  2. Financial Statements

    Records that outline the financial activities of a business, ...
  3. Comparative Statement

    A statement which compares financial data from different periods ...
  4. Financial Statement Analysis

    The process of reviewing and evaluating a company's financial ...
  5. Common Size Income Statement

    An income statement in which each account is expressed as a percentage ...
  6. Profit and Loss Statement (P&L)

    A financial statement that summarizes the revenues, costs and ...
RELATED FAQS
  1. What's the difference between an income statement and a balance sheet approach?

    Understand more about the principle purposes and primary differences between a company's income statement and its balance ... Read Answer >>
  2. Which financial accounting statement contains information on a company's net sales?

    Find out which accounting statement contains information on a company's net sales as well as other key statements analysts ... Read Answer >>
  3. How are the three major financial statements related to each other?

    Learn why investors analyze a company's financial statements, and how the income statement, balance sheet and cash flow statement ... Read Answer >>
  4. What is the difference between an income statement and a balance sheet?

    Find the current value of a business by reading the balance statement and determine whether operations are efficient by analyzing ... Read Answer >>
  5. What does financial accounting focus on?

    Learn the main tenets of financial accounting, the guidelines by which it is governed and how outsiders use it to gauge a ... Read Answer >>
  6. What is the difference between a compiled and a certified financial statement?

    All publicly-traded companies are required to provide financial statements, including a balance sheet, cash flow statement ... Read Answer >>
Hot Definitions
  1. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  2. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  3. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  6. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
Trading Center