A financial statement is a formal record of a company's financial activities and position. It provides information about a company's revenues, expenses, assets, liabilities, and equity, and it is used by stakeholders to evaluate the financial performance and health of the company.There are four main types of financial statements: the balance sheet, the income statement, the statement of cash flows, and the statement of changes in equity. These statements are typically prepared at regular intervals, such as quarterly or annually, and they are often audited by an independent accounting firm to ensure their accuracy and reliability.
