See: Income Statement. See: Balance Sheet. See: Cash Flow Statement.
"I made money." "I lost money." Those are financial statements.
"I have lots of cash." "I have lots of debt." "I generated a lot of cash this quarter." More financial statements.
The actual numeric rendition of these verbal statements represent the actual financial statements, which are filed with all kinds of accountants and lawyers looking over shoulders for companies reporting results to their shareholders and/or owners.
In publicly traded companies, three key financial statements are required in order to comply with disclosure laws. Those are: income statement, balance sheet, and cash flow statement reports, each of which have their own peculiar little format demands.
If you end up being a high-end accountant or investment banker, for better or worse, your financial statement will be "Wow, these got really boring after college."
Related or Semi-related Video
Finance: What is a registration statemen...2 Views
finance a la shmoop what is a registration statement....Hi I'm a
registration statement okay there I said [Uncle Sam poster talking]
it that's a registration statement alright
what am I good for well if you want to go public that is raise money from Joe [Joe Sixpack and Josephine Sixpack appear]
Sixpack and his wife Josephine well then you have to jump through all kinds of
hoops the most important of which is that you have to file a prospectus with
the Securities Exchange Commission or SEC all right what's a prospectus[Prospectus with SEC badge]
it used to be an amateur spectus but the well then it took some continuing ed
classes owned expecting skills and it turned pro and took money all
right well a prospectus basically just outlines all of the information that the
SEC deems is key to the offering like trailing revenues and profits and growth
the units sold, any lawsuits outstanding against the company, distribution,
contracts with vendors patents who the management is debts owed and on and on [examples of what is outlined in a prospectus]
why the need for all this registration well because so many unsuspecting
investors who likely didn't watch this video well they got taken taken in the [Person picks up red phone]
past yeah farmers, not educated government came to their aid they
invested in some sleazy thing that wasn't run through the SEC and now
they're walking around in a barrel saying we'll uh shmoop for food yeah [Man walking in a barrel]
good luck you know the phrase a barrel of fun yeah this is not what it's
referring to [Man walking inside a barrel and a tiger appears]
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