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Report is defined as a collection of information about something or rumors or gossip that is being spread. An example of report is a paper a student writes about a book. An example of report is a summary of findings provided after a committee investigates a situation.
Financial statements (or financial report) is a formal record of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand.