Final answer:
A financial statement is a document that summarizes the current financial situation of a firm, analyzes financial needs, and recommends a direction for financial activities.
Step-by-step explanation:
The document you are referring to is called a financial statement. A financial statement summarizes the current financial situation of a firm, analyzes its financial needs, and recommends a direction for financial activities. It provides information on the firm's revenues, costs, profits, and other financial aspects. This document is essential for making informed decisions about the firm's financial strategies and goals.