---
title: Financial Statement
description: Financial statements are a set of documents that are periodically released throughout the year and provide a view of a company’s financial performance.
---

[Realized 1031 Glossary of Terms ](https://www.realized1031.com/glossary)

# [Financial Statement](https://www.realized1031.com/glossary/financial-statement)

 Written by [The Realized Team](https://www.realized1031.com/glossary/author/the-realized-team) | Jun 27, 2022 12:00:00 PM

Financial statements are a uniform set of financial documents that are periodically released throughout the year and provide a view of a company’s financial performance. There are three financial statements. The balance sheet provides a snapshot of assets, liabilities, and equity. The income statement shows a specific period of revenue and income generation. The cash flow statement is also based on a particular timeframe and shows changes in the cash account.

Public companies must follow GAAP (Generally Accepted Accounting Principles) standards, which allows investors to assess the investment viability of a stock. Financial statements also include explanatory notes or footnotes. These go into further details about operations, acquisitions, inventory method, owner’s equity, and other more.

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