What Are The Components of Financial Statements?

May 21st, 2006 Comments off
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WHAT ARE THE COMPONENTS OF FINANCIAL STATEMENTS?

Balance Sheet

Income Statement

A statement showing either:

  • All changes in equity, or
  • Changes in equity other than those arising from capital transactions with owners and distribution to owners.

Accounting policies and explanatory notes.

Voluntary disclosure, outside the financial statements, a financial review on the main features of financial performance and financial position and the principal uncertainties:

  • Main factors and influences on performances, changes in environment, enterprise’s responses, policy on investments and dividends;
  • Sources of funding, policy on gearing and risk management;
  • Strengths and resources whose value is not reflected in the balance sheet.

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Financial Accounting

 
 

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