financial statement
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AI overview
A financial statement is a formal record that shows how much money a business, person, or organization has earned, spent, and currently owns. It matters because it provides a clear picture of an entity's financial health and helps people make informed decisions about lending money, investing, or managing their own finances.
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Historical financial statements
In finance and accounting, financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.