A financial statement is a blanket term for one of a number of sub-reports that convey the economic status and health of a company or individual. Some financial statements capture a specific moment in time, such as a balance sheet. Other financial statements model future financial expectations, such as a cash flow statement. Others aim to capture historical data over a specific period of time, such as an income statement. Analysis of multiple financial statements provides a more comprehensive picture of the financial wellbeing of the company or individual in question.