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  Financial statements & analysis Financial statements are written records that convey the business activities and the financial performance of a company.  The financial statements are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings potential. The three major financial statement reports are the  Balance sheet Income statement Cash flow statement Financial statements are often audited by government agencies, accountants, firms, etc. to ensure accuracy and for tax, financing, or investing purposes. Sources of financial information to effectively evaluate the financial performance of the business requires financial information from three sources: a balance sheet, an income statement and a cash flow statement.  Balance Sheet   A balance sheet is a statement of assets, liabilities and capital of a business or an organisation at a particular point in time, detailing the balance of income and expenditure over the preceding peri