LeoGlossary: Statement
A statement is a form of communication that is used to express a fact, opinion, or position on a particular topic. This can take the form of written or spoken words, gestures, or symbols, and can be directed at a specific audience or intended for a broader audience.
In legal proceedings, a statement is a formal declaration made by a witness or party to a case. These statements are made under oath and are considered to be legally binding. They are used as evidence in court and can have significant consequences for the outcome of a case. witnesses are required to provide truthful statements, and knowingly making false statements can result in legal penalties.
In the context of communication, a statement can be a clear and concise expression of an opinion, fact, or position on a particular topic. This can be used to convey information, express emotions, or persuade others. The tone, language, and nonverbal cues used in a statement can greatly impact its effectiveness and the response it elicits from the audience.
In data analysis, a statement is a quantitative or qualitative description of a variable or trend. These statements are used to summarize data, identify patterns, and make predictions. They are often based on statistical analysis and are used to inform decision-making and policy development.
Financial Statements
In finance and business, a statement is a formal report that provides information about a company's financial performance, position, or cash flows. There are several types of statements that are commonly used in finance and business, including:
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Income Statement: Also known as a profit and loss statement, an income statement shows a company's revenues, costs, and expenses over a specific period of time. It provides information about a company's profitability and is used to calculate key financial metrics such as gross profit margin, operating profit margin, and net profit margin.
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Balance Sheet: A balance sheet provides a snapshot of a company's financial position at a specific point in time. It lists a company's assets, liabilities, and equity and shows how these items are related to each other.
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Cash Flow Statement: A cash flow statement shows how changes in a company's balance sheet and income statement affect its cash and cash equivalents. It provides information about a company's cash inflows and outflows and is used to assess a company's liquidity and financial flexibility.
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Statement of Retained Earnings: A statement of retained earnings shows changes in a company's retained earnings over a specific period of time. It provides information about a company's earnings, dividends, and other distributions.
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Statement of Shareholders' Equity: A statement of shareholders' equity shows changes in a company's equity over a specific period of time. It provides information about a company's stock, dividends, and other transactions that affect shareholders' equity.
These statements are used by investors, analysts, and managers to evaluate a company's financial performance, identify trends, and make informed decisions about investments, financing, and operations. They are also used by regulatory agencies to monitor compliance with financial reporting requirements.
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