A Maryland Financial Statement is a legal document that outlines a person or business's financial position in the form of financial statements. The statement is required by the state of Maryland in order to complete certain transactions, such as registering a business or filing for bankruptcy. It includes a balance sheet, income statement, and cash flow statement. The statement can be prepared by a Certified Public Accountant or other financial professional. There are two main types of Maryland Financial Statements: personal financial statements and business financial statements. Personal financial statements provide an overview of an individual's assets, liabilities, and net worth, while business financial statements provide an overview of the company's financial position, including its assets, liabilities, and equity.