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Answer: Financial statements refer to documents that are stipulated by the Companies Act, such as a "Profit and Loss Statement" that calculates the profits of the company and a "Balance Sheet" that expresses the company's financial condition, which are the basis for calculating the tax amount. In Malaysia, it is generally called a management account. Day to day business transactions like sales invoice, purchases invoice, expenses billing & receipts as well as monthly bank statements need to be provided in order to generate a full set financial statements.