The three primary components of financial statements are:

  1. Balance Sheet: Shows a company’s assets, liabilities, and equity at a specific point in time.
  2. Income Statement: Details revenue, expenses, and profits over a period, illustrating operational performance.
  3. Cash Flow Statement: Tracks the inflow and outflow of cash, highlighting the company’s liquidity and financial stability.

Additional disclosures or notes may accompany these statements, providing context, assumptions, and explanations for figures. Together, these components give stakeholders a comprehensive view of the company’s financial position and performance.