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. These statements are used to reflect the financial effects of a business transaction 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. These statements are the basic source of financial information for most decision makers. Importance of Financial Statement With the help of financial statements, the management of a company can check the status and performance of financial accounts. Truly, from the value of view, a financial statement may provide a bit of information with respect to the financial value of the company. Almost certainly, a financial statement will equally help the investors and creditors to evaluate a company’s financial performance. Apart from this, a financial statement can also help the business to communicate with other entities or all the interested outside parties who are interested in knowing the current financial worth of the company,