Primary financial statements
From ACT Wiki
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.