What does 'it is finished' mean in Christian theology?

'It is finished,' articulated by Jesus on the cross, encapsulates the complete and finished work of atonement. This declaration indicates that every aspect of God's requirement for salvation has been satisfied through Christ’s suffering and sacrifice. This phrase assures believers that their sins have been fully paid for and that their standing before God is secure in Christ’s righteousness. As noted in the sermon, understanding this truth is vital for Christians, as it highlights the efficacy of Jesus’ work and the assurance we have of our salvation.