Financial statements are part of accounting. The following points explain why:

Definition of Accounting:
Accounting is the process of recording, classifying, summarizing, and interpreting financial transactions to provide information that is useful in making business decisions.

Financial Statements:
Financial statements are the end result of the accounting process. They are a set of reports that provide information about a company's financial performance and position. Some of the financial statements are:

1. Income Statement:
An income statement shows a company's revenues and expenses over a specific period of time. It helps in determining the profitability of a company.

2. Balance Sheet:
A balance sheet provides information about a company's assets, liabilities, and equity at a specific point in time. It helps in determining the financial position of a company.

3. Cash Flow Statement:
A cash flow statement shows the inflows and outflows of cash during a specific period of time. It helps in determining the cash flow position of a company.

4. Statement of Changes in Equity:
A statement of changes in equity shows the changes in a company's equity during a specific period of time. It helps in determining the changes in the ownership of a company.

Importance of Financial Statements:
Financial statements are important for the following reasons:

1. They provide information about a company's financial performance and position, which helps in decision-making.

2. They help in assessing the financial health of a company.

3. They provide information to investors, creditors, and other stakeholders.

Conclusion:
In conclusion, financial statements are an important part of accounting. They provide information about a company's financial performance and position and help in decision-making.