How would you define "Financial Status" in a legal contract? (2024)

FAQs

How would you define "Financial Status" in a legal contract? ›

Financial Status means the condition including business, assets, properties, operations [related to finances], along with profitability and debt indicators.

Financial Status means the condition (financial or otherwise), business, assets, properties or operations of the Person. Financial Status means profits, losses, revenue, income, earnings, indebtedness, EBITDA, corporate valuation, available cash, or cash flow.

Financial Status means profits, losses, revenue, income, earnings, indebtedness, EBITDA, or cash flow. Sample 1. Financial Status means the level of income into which clients are categorized.

Financial usually refers to money matters or transactions of some size or importance: a financial wizard. Fiscal is used especially in connection with government funds, or those of any organization: the end of the fiscal year. Monetary relates especially to money as such: a monetary system or standard.

The process consists of analyzing four critical financial statements in a business. The four statements that are extensively studied are a company's balance sheet, income statement, cash flow statement, and annual report.

The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.

An organization's financials include the balance sheet, income statement, cash flow statement, and statement of shareholders' equity. The balance sheet shows an enterprise's assets, liabilities, and shareholder's equity at a specific time, providing insight into its financial position.

What is the legal definition of financial statements? ›

Definition & Citations:

A report showing the firm's funds. It shows how invested funds are being used by a firm. It shows the current position of a company. It can be a balance sheet, income sheet, profit and loss account, or cash flow statement. It is meant to show the way fund.

Financial means relating to or involving money. The company is in financial difficulties. ... the government's financial advisers. Synonyms: economic, business, money, budgeting More Synonyms of financial.

The financial sector covers many different types of transactions in such areas as real estate, consumer finance, banking, and insurance.

A personal financial statement shows the individual's net worth—their assets minus their liabilities—which reflects what that person has in cash if they sell all their assets and pay off all their debts. If their liabilities are greater than their assets, the financial statement indicates a negative net worth.

Whether you're out for coffee with a friend, hanging out on the couch with your partner, or having your kids over for dinner―bring up the conversation by asking them questions like: How do you feel about your money? How do you manage your money? What financial worries or stresses do you have?