Types of financial statements

0.0(0)
Studied by 0 people
call kaiCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/3

encourage image

There's no tags or description

Looks like no tags are added yet.

4 Terms

1
New cards

Statement of financial position

  1. Sets out the assets on one hand and the claims against those assets on the other side

  2. Lists all the resources and obligations of the company at a given time

    1. Like a PHOTOGRAPH of that moment in time

  3. What is the accumulated wealth at the end of the period?


2
New cards

income statement

  1. Shows the wealth/profit generated over a period

  2. Income - expenses

  3. Profitability of a company

  4. How much wealth was generated over a period?


3
New cards

Cash flow statement

  1. Cash movements over a particular period

  2. Sources and uses of cash


4
New cards

Statement of changes in equity