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

FDD , fimnancial accounting system

fimnancial accounting system

Ifrs guidelines, IFRS guidelines IFRSs Gives the guideline on the conte...

IFRS guidelines IFRSs Gives the guideline on the content and the accounting statements of certain events and transactions in the financial statements. The following IFRSs are r

Calculate the required return of the stock, Below given th einformation of ...

Below given th einformation of the stock calculate the required return of the stock. Dividend = $4.50 every year Current sales price of stock = $ 79.85 per share Formul

What do you mean by earnings per share, Q. What do you mean by earnings per...

Q. What do you mean by earnings per share? Anti-dilution - Condition which may increase computation of EARNINGS PER SHARE (EPS)or decrease loss per share solely due to the incl

Just-in-time manufacturing system, Which of the following statements is FAL...

Which of the following statements is FALSE of Just-In-Time (JIT) manufacturing systems? Answer Demand pull means a closer relationship with the customer. The power of supp

Compute the companys largest available depletion deduction, In May 2011, Yo...

In May 2011, Your Company purchased the rights to a natural resource for $4,125,000. The estimated recoverable units from the natural resource amount to 5,500,000 units. During the

Adjustment entry, 1) A sales discount correctly taken by the charge custome...

1) A sales discount correctly taken by the charge customer was debited to Sales at the time the entry was recorded. This error will cause. A) the net income for the period to be un

Budgeted purification fixed, XYZ Municipality purifies water before it ente...

XYZ Municipality purifies water before it enters the reticulation network. There are presently 3 purification processes available to the municipality. These processes sre referred

Consolidated statement of comprehensive income, Answer to Question Six ...

Answer to Question Six   Summarised consolidated statement of comprehensive income for the A group for the year ended 30 September 2010 All workings

Retirement benefits and why it is shown in annual report, Retirement benefi...

Retirement benefits 1)      Provident fund and family pension: a.       Contribution to PF and PPF are provided for and payments in respect thereof are made to the relevant

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