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Month: August 2021

Financial statements

August 30, 2021 Khayyam Javaid, ACA

In this section, we’ll explain various aspects of preparing the financial statements. By the end of this section, you will…

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Posted in: Financial Accounting, Financial statements

Notes to the financial statements (footnotes)

Khayyam Javaid, ACA

Notes to the financial statement, also known as financial statements footnotes, are considered as an integral part of the financial…

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Posted in: Financial Accounting, Financial statements

Financial reporting framework

Khayyam Javaid, ACA

Financial reporting framework is the set rules and guidance on the basis of which an entity prepares its financial statements.…

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Posted in: Financial Accounting, Financial statements

Example – Indirect method of cash flow statement

Khayyam Javaid, ACA

In this post, we’ll prepare a statement of cash flows using direct method. So, let’s get started!. Question Use the…

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Posted in: Financial Accounting, Financial statements

Example – Direct method of cash flow statement

Khayyam Javaid, ACA

In this post, we’ll prepare a statement of cash flows using direct method. So, let’s get started!. Question Following are…

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Posted in: Financial Accounting, Financial statements

Direct vs indirect methods of cash flow statement

Khayyam Javaid, ACA

Statement of cash flows can be prepared and presented by two methods, namely, direct method and indirect method. In both…

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Posted in: Financial Accounting, Financial statements

Statement of cash flows

Khayyam Javaid, ACA

For users of financial statements, information about profitability is not the only thing to be looked at. Information about the…

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Posted in: Financial Accounting, Financial statements

Statement of changes in equity

Khayyam Javaid, ACA

For companies, the term used is shareholders’ equity whereas for sole proprietors and partnership firms, it is known as owners’…

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Posted in: Financial Accounting, Financial statements

Statement of comprehensive income

Khayyam Javaid, ACA

First two statements of the complete set of financial statements are balance sheet and income statement. The  statement of comprehensive…

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Posted in: Financial Accounting, Financial statements

Sample segment reporting note to the financial statements

Khayyam Javaid, ACA

In this post, we’ll see a sample note on segment reporting. The example used here is of the same financial…

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Posted in: Financial Accounting, Financial statements

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    Financiopedia
    • Financial Accounting
      • Basics of accounting
      • Double-entry accounting system
      • Accounting cycle
      • Accounting principles
      • Bookkeeping
      • Accounting of assets
      • Property, plant and equipment
      • Financial instruments
      • Inventory
      • Accounts receivable
      • Accounting of liabilities
      • Accounting of income
      • Accounting of expenses
      • Financial statements
      • Ratio analysis
    • Management Accounting
      • Introduction to management accounting
      • Introduction to costs
      • Material and labour costs
      • Relevant costing
      • Marginal and Absorption Costing
      • Inventory Valuation
      • Inventory Management
    • IFRS
      • IFRS 15 – Revenue from contracts with customers
      • IFRS 9 – Financial Instruments
    • About Us