Question

what is financial statements​

Answer 1

Explanation :

★ Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.

★ A cash flow statement reports on a company's cash flow activities, particularly its operating, investing and financing activities over a stated period.

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Answer 2

Reports that are prepared by the management of an organization to present the position and performance at a point is describe to be financial statement.

Explanation:

 Financial statement is mostly prepared to give the users who are outside the business like creditors and investors the financial position of the company. The statement includes; cash flow, balance sheets, owners’ equity and income statement.

 In most cases financial statement is known to be one of the important sources of decision making. They are  designed to some of the company’s standards that will help in its growth.

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