Primary financial statements: Difference between revisions
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imported>Doug Williamson (Make 'accounts' explicit.) |
imported>Doug Williamson (Note UK GAAP names.) |
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These are: | These are: | ||
* Statement of financial position. | * Statement of financial position (balance sheet). | ||
* Income statement (which can be included in the statement of comprehensive income | * Income statement (profit or loss account), which can be included in the statement of comprehensive income. | ||
* Statement of comprehensive income. | * Statement of comprehensive income. | ||
* Statement of changes in equity. | * Statement of changes in equity. | ||
Revision as of 12:59, 21 May 2017
Financial reporting.
Under International Accounting Standards (IAS) 'primary' financial statements are the main accounting statements that must be presented.
These are:
- Statement of financial position (balance sheet).
- Income statement (profit or loss account), which can be included in the statement of comprehensive income.
- Statement of comprehensive income.
- Statement of changes in equity.
- Statement of cash flows.
The primary statements are supported by Notes to the accounts, providing additional and more detailed financial information.
