A financial report is a formal document that provides an overview of a company's financial performance and position over a specific period. It typically includes key statements such as the income statement, balance sheet, and cash flow statement, which summarize revenues, expenses, assets, liabilities, and cash movements. These reports help stakeholders, including investors and management, assess the company's profitability and financial health. Financial reports are usually prepared on a quarterly or annual basis and must adhere to accounting standards like GAAP or IFRS. They are essential for making informed business decisions, securing funding, and ensuring regulatory compliance.