Primary financial statements: Difference between revisions
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''Financial reporting.'' | ''Financial reporting.'' | ||
Under International Accounting Standards (IAS) 'primary' financial statements are the main accounting statements that must be presented. | Under International Accounting Standards (IAS) 'primary' financial statements are the main external accounting statements that must be presented. | ||
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The primary financial statements are supported by Notes to the accounts, providing additional and more detailed financial information. | The primary financial statements are supported by Notes to the external accounts, providing additional and more detailed financial information. | ||
==See also== | ==See also== | ||
* [[Annual report]] | |||
* [[Entity]] | * [[Entity]] | ||
* [[Financial reporting]] | * [[Financial reporting]] | ||
Revision as of 14:57, 31 December 2020
Financial reporting.
Under International Accounting Standards (IAS) 'primary' financial statements are the main external 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 financial statements are supported by Notes to the external accounts, providing additional and more detailed financial information.
