A financial statement template is a formal document that outlines the financial activities and position of a business, individual or any other entity. Usually, these statements are big players in the world of accounting and quantify the financial strength, performance or liquidity of an organization. Moreover, people use them to reflect the financial effects of business transactions and activities on the entity or individual. Generally, the financial reports are prepared by the company’s managers to represent the financial performance and position at a point in time. Going further, the financial statement template is the basic source of financial information not only for the public but also for most decision-makers. Importance of Financial Statement: With the help of a financial statement, the management of a company can check the status and performance of financial accounts. Truly, from the value of view, this statement provides a bit of information with respect to the financial value of the company. Moreover, it equally helps the investors and creditors to evaluate the financial performance of a company. Going further, a financial statement helps the business to communicate with other entities or interested parties who are willing to learn about the latest financial position of the