Which of the following item is not a tool of financial statement analysis?

The correct option is Statement of Profit and Loss.

Financial statement analysis involves the use of various tools and techniques to evaluate a company's financial performance, position, and future prospects. These tools help stakeholders interpret the financial data presented in the core financial reports.

Let us analyze the options to understand why the "Statement of Profit and Loss" is not a tool of analysis:
1. Trend Analysis is a tool that analyzes financial data over multiple accounting periods to identify patterns, directions, or trends in performance.
2. Cash Flow Statement is itself a tool of analysis (or statement used for analysis) that tracks the inflows and outflows of cash, helping to evaluate the liquidity and solvency of a business.
3. Comparative Statements (such as comparative balance sheets or comparative income statements) are tools used to compare financial data from two or more periods side-by-side to determine absolute and percentage changes.
4. Statement of Profit and Loss is a basic/core financial statement itself, not a analytical tool. It provides the raw financial data (revenue, expenses, and net profit/loss) upon which financial analysis tools (like ratio analysis, trend analysis, or comparative statement analysis) are applied.

Therefore, the Statement of Profit and Loss is a subject of analysis rather than a tool of analysis.