Financial statements are documents that provide information about a company's financial position, performance and cash flows. They include three main components - Income Statement, Balance Sheet and Cash Flow Statement. The income statement shows how much revenue the company has generated over a period of time and what expenses it incurred to generate that revenue. It also indicates whether the company made a profit or loss during that period. The balance sheet provides information about the assets, liabilities and equity of the company at a specific point in time. This helps to determine the financial health of the company. Finally, the cash flow statement shows how much cash is coming into and going out of the business over a period of time. It also indicates whether the company has generated positive or negative cash flows during that period. Overall, these statements provide important information for investors, creditors, and management to make informed decisions about the company's financial health.