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LSDefine

Simple English definitions for legal terms

financial statement

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A quick definition of financial statement:

A financial statement is a report that shows how much money a person or organization has and how much they owe. It can be a balance sheet, income statement, or annual report that summarizes their financial condition on a specific date or for a specific period. A certified financial statement is one that has been checked by an independent accountant. A consolidated financial statement combines the financial reports of a company and all its subsidiaries as if they were one entity. Another type of financial statement is an income-and-expense declaration.

A more thorough explanation:

A financial statement is a document that summarizes an individual's or organization's financial condition on a specific date or for a specific period. It reports assets and liabilities and can take the form of a balance sheet, income statement, or annual report.

For example, a company may prepare a balance sheet at the end of the fiscal year to show its assets, such as cash, inventory, and property, and its liabilities, such as loans and accounts payable. An income statement may also be prepared to show the company's revenue and expenses during the year.

A certified financial statement is one that has been examined and reported by an independent public or certified public accountant. This type of statement provides assurance that the financial information presented is accurate and reliable.

Another type of financial statement is a consolidated financial statement, which combines the financial reports of a company and all its subsidiaries as if they were a single entity. This type of statement is useful for investors and stakeholders who want to see the overall financial health of a company and its subsidiaries.

Financial Services Agency | financing

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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