The financial statement
Example: Financial statement reports financial performance and position of a company
Definition
"The financial statement" is a formal record of the financial activities and position of a business, person, or other entity. It typically includes reports such as the balance sheet, income statement, and cash flow statement, providing insights into financial performance and health.
Etymology
The term "the financial statement" comes from the combination of 'financial,' relating to finance or money matters, and 'statement,' meaning a clear expression of something. The phrase evolved as businesses needed standardized documents to communicate financial information clearly.
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"The financial statement" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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