The financial statements as per IAS
1 Contains
1. Statement of
Financial position (Balance Sheet) as at.....
2. The
statement or profit or loss and other Comprehensive income for the period
ended.
3. The statement
of changes of equity as at.
4. The statement
of Cash flows for the period ended
5. notes,
comprising a summary of significant accounting policies and other explanatory
notes comparative information prescribed by the standard.
The
statement of financial position, often called the balance sheet, is a financial
statement that reports the assets, liabilities, and equity of a company on a
given date. Balance sheets provide the basis for computing rates of return for
investors and evaluating a company's capital structure. The balance sheet is
one of the three core financial statements that are used to evaluate a
business.
The
statement of comprehensive income is a financial statement that summarizes both
standard net income and other comprehensive income (OCI). The net income is the
result obtained by preparing an income statement. The purpose of the statement
of profit or loss and other comprehensive income (PLOCI) is to show an entity’s
financial performance in a way that is useful to a wide range of users.
An
equity statement – also referred to as a statement of owner’s equity or
statement of changes in equity – is a financial statement that a company is
required to prepare along with other important financial documents at the end
of a reporting period. The statement of changes in equity reports changes in
the equity (ownership) accounts for a corporation. Equity can be defined as the
worth or value to the owners of the company.
The
cash flow statement (CFS), is a financial statement that summarizes the
movement of cash and cash equivalents (CCE) that come in and go out of a
company. Cash flows are classified and presented into operating activities
(either using the 'direct' or 'indirect' method), investing activities or financing
activities, with the latter two categories generally presented on a gross
basis.
