Ias1 contents of financial statements, Financial Accounting

Assignment Help:

IAS 1 contents of financial statements

IAS 1 prescribes the contents of published financial statements. The major reports that are included as part of the published financial statements is:-

  • The income statement.
  • The balance sheet.
  • The statement of changes in equity.
  • The Cashflow statement.
  • The notes to the accounts/financial statements.


 
In most cases, companies that prepare published financial statements include the following additional reports (that are not financial statements).

  • Corporate information (Company’s address, lawyers. Location, bankers and others).
  • Chairman’s report (principle business activities of the firm, directors to be elected or retiring, summary results for the year and dividends).
  • Auditors report.
  • Corporate governance (I.T systems, internal audit, audit committees and other systems in place to ensure good management).
  • Statistical information (major highlights of the company’s performance, over a period of time e.g. 5 years).

Related Discussions:- Ias1 contents of financial statements

Debtor management, what is the process to complete my debtor management pro...

what is the process to complete my debtor management project.

implied exchange rate between usd and gbp , You have been provided with th...

You have been provided with the following information on a fixed-fixed USD-GBP currency swap, the spot exchange rate between USD and GBP, and the USD and GBP yield curves: Fi

expected range of returns, Series Arithmetic Mean Standa...

Series Arithmetic Mean Standard Deviation   Small-company stocks 15.9  % 32.8  %   Large-company

Concepts in accounting, Mr. Inherits 30000. Decides to open a salon jj salo...

Mr. Inherits 30000. Decides to open a salon jj salon. On 1/4/2016 commits 10000 to the business Opens an a/c in the bank What will be the money under capital in his books on 1/4/10

What would be the balance in the paid-in capital, Horton Co. was organized ...

Horton Co. was organized on January 2, 2010, with 500,000 authorized shares of $10 par value common stock. During 2010, Horton had the following capital transactions: January 5-iss

Define country in rigorous recession reflect on devaluation, Define why cou...

Define why country in rigorous recession reflect on devaluation? Countries can deal with the both internal problems with external solutions. Why might a country in rigorous rec

Preparation of cashflow statements, Preparation of cashflow statements ...

Preparation of cashflow statements IAS 7 recommends that the cashflow statement can be prepared using two methods:- I) Direct method Whereby, cash from operations is deter

Termination of appointments-trust laws, TERMINATION OF APPOINTMENTS A tru...

TERMINATION OF APPOINTMENTS A trustee may cease to hold office in the following ways: (a) Disclaimer : At any time before acceptance of the trusts. (b) Retirement : Eith

Probability analysis, Probability Analysis This engrosses the assessmen...

Probability Analysis This engrosses the assessment of the probabilities of future events linked to an investment project. If these events are universal circumstances the techni

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd