Generally financial statement is a written statement which quantitatively describes the financial strength of a company
. This includes a profits statement and a balance sheet, and frequently also includes a cash flow statement. Financial statements are frequently compiled on a quarterly and yearly basis. Statements of retained income illustrate changes in a companies or organizations retained income over an exact period of time. These statements illustrate the opening and final balance of retained income, as well as any adjustments to the balance that take place throughout the reporting period. This information is sometimes integrated as measurement of the balance sheet, or it may be shared with an earnings statement. Though, it is regularly provided as a totally separate statement.