Primary financial statements: Difference between revisions
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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 accounting statements that must be presented. |
Revision as of 13:02, 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.