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Elements of Financial Statements. Purpose of financial statements Reporting accounting information to external decision makers.

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Presentation on theme: "Elements of Financial Statements. Purpose of financial statements Reporting accounting information to external decision makers."— Presentation transcript:

1 Elements of Financial Statements

2 Purpose of financial statements Reporting accounting information to external decision makers

3 Elements of Financial Statements A complete set of financial statements consists of 5 elements

4 Elements of Financial Statements A complete set of financial statements consists of 5 elements 1)The balance sheet

5 Elements of Financial Statements A complete set of financial statements consists of 5 elements 1)The balance sheet 2)Income statement

6 Elements of Financial Statements A complete set of financial statements consists of 5 elements 1)The balance sheet 2)Income statement 3)Cash flow statement

7 Elements of Financial Statements A complete set of financial statements consists of 5 elements 1)The balance sheet 2)Income statement 3)Cash flow statement 4)Statement of changes in equity 5)Accounting policies and explanatory notes

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