Financial statements are accounting reports issued periodically by a firm that present information on the past performance of the firm,a summary of the firm's assets and the financing of those assets,and a prediction of the firm's future performance.

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Financial statements provide information on the past performance of the firm, a summary of the firm's assets, and the financing of those assets, but they do not include predictions of the firm's future performance.

Financial Statements Are Accounting Reports Issued Periodically by a Firm