Financial Statement

A company’s financial statements include its balance sheet (which is a snapshot of assets, liabilities and shareholders’ equity as at a specific date), income statement (which shows revenues, expenditures and profits for a specific period usually one year), other comprehensive income (which has specific items of gains and losses that do not flow through income statement) and cash flow statement (which shows cash generated from/used in operating, investing and financing activities and how cash has moved during a specific period, usually one year). Taken as a whole, including the notes, which form an integral part of the statements, they offer a detailed snapshot of the company’s financial position at the reporting date, and financial performance and the cash flows for the reporting period.