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Financial statement

Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form, easy to understand, they include four basic financial statements accompanied by a management discussion and analysis: A balance sheet or statement of financial position, reports on a company's assets and owners equity at a given point in time. An income statement—or profit and loss report, or statement of comprehensive income, or statement of revenue & expense—reports on a company's income and profits over a stated period. A profit and loss statement provides information on the operation of the enterprise; these include the various expenses incurred during the stated period. A statement of changes in equity or statement of equity, or statement of retained earnings, reports on the changes in equity of the company over a stated period. A cash flow statement reports on a company's cash flow activities its operating and financing activities over a stated period.

For large corporations, these statements may be complex and may include an extensive set of footnotes to the financial statements and management discussion and analysis. The notes describe each item on the balance sheet, income statement and cash flow statement in further detail. Notes to financial statements are considered an integral part of the financial statements. "The objective of financial statements is to provide information about the financial position and changes in financial position of an enterprise, useful to a wide range of users in making economic decisions." Financial statements should be understandable, relevant and comparable. Reported assets, equity and expenses are directly related to an organization's financial position. Financial statements are intended to be understandable by readers who have "a reasonable knowledge of business and economic activities and accounting and who are willing to study the information diligently." Financial statements may be used by users for different purposes: Owners and managers require financial statements to make important business decisions that affect its continued operations.

Financial analysis is performed on these statements to provide management with a more detailed understanding of the figures. These statements are used as part of management's annual report to the stockholders. Employees need these reports in making collective bargaining agreements with the management, in the case of labor unions or for individuals in discussing their compensation and rankings. Prospective investors make use of financial statements to assess the viability of investing in a business. Financial analyses are used by investors and are prepared by professionals, thus providing them with the basis for making investment decisions. Financial institutions use them to decide whether to grant a company with fresh working capital or extend debt securities to finance expansion and other significant expenditures. Consolidated financial statements are defined as "Financial statements of a group in which the assets, equity, income and cash flows of the parent and its subsidiaries are presented as those of a single economic entity", according to International Accounting Standard 27 "Consolidated and separate financial statements", International Financial Reporting Standard 10 "Consolidated financial statements".

The rules for the recording and presentation of government financial statements may be different from those required for business and for non-profit organizations. They may use either of two accounting methods: accrual accounting, or cost accounting, or a combination of the two. A complete set of chart of accounts is used, different from the chart of a profit-oriented business. Personal financial statements may be required from persons applying for a personal loan or financial aid. A personal financial statement consists of a single form for reporting held assets and liabilities, or personal sources of income and expenses, or both; the form to be filled out is determined by the organization supplying the aid. Although laws differ from country to country, an audit of the financial statements of a public company is required for investment and tax purposes; these are performed by independent accountants or auditing firms. Results of the audit are summarized in an audit report that either provide an unqualified opinion on the financial statements or qualifications as to its fairness and accuracy.

The audit opinion on the financial statements is included in the annual report. There has been much legal debate over. Since audit reports tend to be addressed to the current shareholders, it is thought that they owe a legal duty of care to them, but this may not be the case as determined by common law precedent. In Canada, auditors are liable only to investors using a prospectus to buy shares in the primary market. In the United Kingdom, they have been held liable to potential investors when the auditor was aware of the potential investor and how they would use the information in the financial statements. Nowadays auditors tend to include in their report liability restricting language, discouraging an

Bloodline (Sheldon novel)

Bloodline is a 1977 novel by American writer Sidney Sheldon. Roffe and Sons is a family firm, an international empire filled with desperate, cash-hungry family members; the family consists of Anna Roffe, whose husband Walther Gassner married her only because of her bloodline Simonetta, the wife of Ivo Palazzi, a womanizer being blackmailed by his mistress, Donatella Helene Roffe, the three time divorcee who marries Charles Martel. Martel invests in a vineyard by stealing his wife's jewelry. Alec Nichols, whose mother was a Roffe, whose gambling-addicted and spendthrift wife Vivian, pushes him into increasing debts, it is clear. The firm Roffe and Sons is managed by his assistant Rhys Williams. Sam Roffe was expecting a son, but instead got a daughter, Elizabeth. Elizabeth was declined love from her father during childhood, but escaped the reality by reading about her great-great grandfather, Samuel Roffe. Samuel Roffe was born in a Jewish ghetto, systematically and controlled by officials; the ghetto gate was locked before sunset.

Anyone caught outside the gate after sunset was sent to prison camps. In midst of this chaos, along with the trauma of his mother's death, Samuel Roffe aspires to become a doctor, he wanders around the Wal house, the house of a rich Jewish doctor, falls for his daughter. Wal accepts to teach him about medicine, Samuel learns a lot, but Wal's daughter's marriage is fixed, which she rejects as she believes she is in love with Samuel. The Wals give Samuel six months to prove himself worthy of his daughter's hand, he manages to do that by making a vaccine; the bloodline goes on, to reach the present situation, with Roffe and Sons being the second largest company in the world. Elizabeth is sent to a Swiss boarding school, expected to host parties like her mother, she does not get involved in the family business, until she receives the news that her father died in a hiking accident. All the money-hungry family members ask her to sell the stocks and make the company public, but Elizabeth refuses to, sensing that her father was against making the company public.

She discovers with a confidential report that someone is sabotaging the company. She narrowly escapes death twice: once in a car accident and another in a lift accident, in which her secretary dies. While searching for the culprit, she falls for Rhys Williams. Rhys and Elizabeth get married as Elizabeth could not handle the company on her own so she insisted on marrying Rhys Williams who would become the president of the company. With Rhys Williams handling the company, Elizabeth investigates on, sabotaging the company. In Zurich Kriminalpolizei, detective Max Hornung is assigned with the investigation of the lift accident targeted on Elizabeth. After further investigation, Max suspects one of Elizabeth's family members to be the culprit. Meanwhile, Elizabeth comes to a conclusion that Rhys Williams is the murderer of her father based on the research she does herself. To be safe, Elizabeth flees to her villa in Sardinia, she wakes up to find out that she was drugged and the power supply has been cutoff in the house.

Amidst the darkness, she hears the footsteps of her killer approaching, she runs towards a tower and climbs into it. After a dramatic climax, Elizabeth finds out that her killer was none other than Alec who wants to kill Elizabeth in order to sell the stock to repay off his debts. Alec threatens to kill Elizabeth by pointing a gun at her, but detective Hornung and Rhys Williams reach just in time with the police chief and save Elizabeth. Alec perishes in the fire he himself set to the villa, thinking about his wife Vivian and the murders he committed of young girls with a red ribbon tied around their necks for her. In 1979, a motion picture adaptation of Bloodline was released starring Audrey Hepburn as Elizabeth. Since the 50-year-old Hepburn was older than Sheldon's character, Sheldon revised his novel to place the literary version of Elizabeth into the same age range as the actress; the film adaptation was a critical and box office hit

Fabian Herbers

Fabian Herbers is a German footballer who plays for Chicago Fire in MLS. Prior to playing in the United States, Herbers competed for both FC Twente, SC Preußen Münster and VfL Rhede at youth level, he went to play three years of college soccer in the United States at Creighton University between 2013 and 2015 before signing a Generation Adidas contract with Major League Soccer. Herbers was selected 6th overall in the 2016 MLS SuperDraft by Philadelphia Union, he made his Union debut on March 6, 2016, as an 83rd-minute substitute during a 0–2 loss against FC Dallas. He began his career playing between the Union and Bethlehem Steel FC, making a total of six Steel appearances and scoring two goals in 2016, including the franchise’s first-ever goal in a 1-0 win on March 25 in their first match against FC Montreal, he scored his first goal for the Union during a 3-2 win vs. Columbus Crew SC on June 1, 2016 in the 83rd minute after being subbed on 8 minutes prior. In 2016, he totaled 32 league appearances, scoring three goals and leading all league rookies with seven helpers.

He scored one goal and one assist in two U. S. Open Cup appearances. 2017 was a frustrating year for Herbers. He scored his first goal of the season during a substitute appearance in a 4-0 win at D. C. United. Herbers suffered a groin injury vs. Colorado Rapids on May 20, 2017 and missed a month before returning to practice and suffering a sports hernia, ending his 2017 season. On 9 December 2018, Herbers was traded to Chicago Fire in exchange for a second-round pick in the 2019 MLS SuperDraft; as of October 6, 2019 Herbers earned his U. S. green card in July 2017. This status qualifies him as a domestic player for MLS roster purposes. Creighton Profile Fabian Herbers at Major League Soccer