In this paper, we give a formal semantics for Statechart via a translation into Algebra of Communicating Shared Hesources(ACSR). Statechart is a very rich graphical specification language, which is suitable to specify complicated reactive systems. However, the incorporation of graph into specification and rich syntax makes Statechart semantics very complicated and ambiguous. Thus, it is very difficult to verify the correctness of Statechart specifications. Also, we propose the formal verification method for Statechart specifications by showing equivalence relation between two Statechart specifications. This makes it possible to combine the advantages of a graphical language with the rigor of process algebra.