Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

financial statement

Read a random definition: serment

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.