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4 Cards in this Set

  • Front
  • Back

Complete set of financial statements for an annual period includes


(GAAP & IFRS)

1) A statement of financial position (BS) as of the last day of the year


2) A statement of profit and loss (IS) for the year


3) A statement of cash flows for the year


4) A statement of stockholder's equity (RE) for the year


5) Supplemental and note disclosures



(GAAP does not require a statement of changes in stockholder equity)

Current asset disclosure

1) Receivables


2) Inventories


3) Cash and Cash equivalents


4) Trade and other payables



Noncurrent Assets Disclosure


1) Property, plant and equipment


2) Investment property


3) Intangible assets


4) Financial Assets


5) Equity method investments


6) Biological assets

IAS Disclosure Categories

1) Current assets


2) Noncurrent Assets


3) Financial Liabilities


4) Provisions


5) Current and deferred tax assets and liabilities


6) Equity capital and reserves


7) Minority interests


8) Parents' equity holder issued capital and reserves