What is the difference between Accounting statement and Financial statement?

An account statement is a periodic summary of account activity with a beginning date and an ending date. The most commonly known are checking account statements, usually provided monthly, and brokerage account statements, which are provided monthly or quarterly. Monthly credit card bills are also considered account statements. Account statements refer to almost any official summary of an account, wherever the account is held. Insurance companies may provide account statements summarizing paid-in cash values, for example. Account statements should be scrutinized for accuracy, and historical statements are critical for budgeting. Accounting statement not be audited mostly used for internal purposes.

Definition: Financial statements are a collection of reports about an organization's financial results, financial condition, and cash flows. They are useful for the following reasons:

• To determine the ability of a business to generate cash, and the sources and uses of that cash.
• To determine whether a business has the capability to pay back its debts.
• To track financial results on a trend line to spot any looming profitability issues.
• To derive financial ratios from the statements that can indicate the condition of the business.
• To investigate the details of certain business transactions, as outlined in the disclosures that accompany the statements.

The standard contents of a set of financial statements are:

• Balance sheet. Shows the entity's assets, liabilities, and stockholders' equity as of the report date. It does not show information that covers a span of time.
• Income statement. Shows the results of the entity's operations and financial activities for the reporting period. It includes revenues, expenses, gains, and losses.
• Statement of cash flows. Shows changes in the entity's cash flows during the reporting period.
• Supplementary notes. Includes explanations of various activities, additional detail on some accounts, and other items as mandated by the applicable accounting framework, such as GAAP or IFRS.

If a business plans to issue financial statements to outside users (such as investors or lenders), the financial statements should be formatted in accordance with one of the major accounting frameworks. These frameworks allow for some leeway in how financial statements can be structured, so statements issued by different firms even in the same industry are likely to have somewhat different appearances.

If financial statements are issued strictly for internal use, there are no guidelines, other than common usage, for how the statements are to be presented.

At the most minimal level, a business is expected to issue an income statement and balance sheet to document its monthly results and ending financial condition. The full set of financial statements is expected when a business is reporting the results for a full fiscal year, or when a publicly-held business is reporting the results of its fiscal quarters.

The accounting statement is refering to the account movement statement like the account leger or any manual statement showing the movement on the account for a specific period, and the financial statements is the complete set of the financial statement set forth per IFRS such as balance sheet ,income statement, changes in owner's equity statement and the cash flow

ACCOUNTING STATEMENT

An accounting statement is summary of accounting activities/ transactions incurred over a period of time. e.g Customer Account statement, Supplier Account statement, Bank Account statement, Brokerage Account statement.

Accounting statement may be of use to limited range of users.

Ther is no specific representation format. 

Accounting statements may be prepared weekly, monthly, quaterly, annually or as required but not mandatory.

FINANCIAL STATEMENT

Financial Statements provide information about the financial position, financial performance and cashflows of an entity that is useful to a wide range of users in making economic decision. As per International Accounting Standard IAS-1, a complete set of financial statement includes:

a. Statement of financial position (Balance Sheet) at the end of period.

b Statement of profit & loss and Other comprehensive income for the period.

c. Statement of Cashflow for the period.

d. Statement of changes in Equity for the period.

e. Notes, comprising a summary of significant accounting policies and other explanatory notes.

Financial statements are presented in accordance with the Generally Accepted Accounting Principles (GAAP).

It is mandatory for an organisation to prepapre financial statements annually at the end of accounting year and may prepare it quarterly, semi-annually or as needed.

Well I think Accounting statement is vague term. You can prepare accounting statement for any entity even for a household. It is general has no specific pattern and set standard or time limit. While a financial statment is much clear and professional understanding. There is no single financial statment but statements which are prepared properly in a set pattern with standards for a prticular time or on some specific date. 

Financial report means any report about monitory matters. In other words a financial report is about the transactions that have financial effects. To run a business financial reports, play important role as relevant financial information is transmitted to relevant users inside and outside the entity to help them in making decisions. For example; bank statement, aged debtor’s analysis report etc.

Financial statements refer to either a statement included in the complete set of general purpose financial statements or a complete set of general purpose financial statements. And due the same reason whenever the term financial statement is used, it is often assumed that a report is about entity’s financial position, financial performance, cash flows or fluctuations in equity.

agree with the experts answers....

Accounting statement is prepared for the purpose of getting information for particular account what is the status of balance in a particular date.whereas the financial statement is prepared for position of business what is the profit and loss from the business

An accounting statement is summary of accounting transactions incurred over a specific period of time (weekly, monthly, quarterly, annually etc).  It is generally for internal use (thus fewer users). There is no specific format for its presentation.  Financial Statements, on the other hand, provide information about the financial position, financial performance and cashflows of the business.  It is used by both internal and external users for making economic and investment decisions.  According to IAS-1, financial statements comprise: a statement of financial position (Balance Sheet), profit & loss account and other comprehensive income for the period, the Cash-flow statement for the period, a statement of changes in Equity, notes comprising a summary of significant accounting policies and other explanatory notes.  Financial statements are presented in accordance with the Generally Accepted Accounting Principles (GAAP), and its preparation is mandatory.

Accounting statement is used by bookkeepers while Financial Statement is used by top management level for decission making.

Account statement is a summary of financial transactions which have occurred over a given period on a bank account while financial statements is a formal record of the financial activities and position of an entity.  

An account statement is a periodic summary of  account activity with a beginning date and an ending date.Financial statement is a formal record of financial activities. It includes:

1.Balance Sheet

2.Income Statement

3.Statement of cash flow

4.Statement of retained earnings