A financial statement form is a breakdown of a business' or individual's finances, which includes a balance sheet and an income statement, notes the United States Small Business Administration website. The balance sheet works as a quick overview of the finances, and the income statement portrays all income and expense accounts over time.
The balance sheet on a financial statement form includes the business' assets, net worth and liabilities, states the U.S. Small Business Administration website. The income statement is the second component on a financial statement form and is also known as a profit and loss statement. The financial statement offers a view of how much money will be left over after the expenses are removed.