a complete set of accounts required by law to be produced by all companies and most other business and administrative organizations, showing the results of trading and other operations during the acco, financial statements of an organization published annually to comply with a statutory obligation to do so. They include a balance sheet, profit and loss account (or income and expenditure account), an, the set of accounts comprising the balance sheet as at a specified date, together with the profit and loss or other revenue account relating to the year which ended on the date of the balance sheet, a