A financial statement is a formal record of the financial activities and position of a business.
Main Financial Statements
- Statement of Profit and Loss and Other Comprehensive Income
Income and expenses. - Statement of Financial Position
Assets, liabilities, and equity. - Statement of Changes of Equity
Equity movements from investments by owners and distributions to owners. - Statement of Cash Flow
Cash movements arising from assets, liabilities, equity, income, and expenses. - Notes to the Accounts
Accounting policies, concepts, and standards.