In this section, we’ll explain various aspects of preparing the financial statements. By the end of this section, you will be able to develop sound concepts regarding the complete set of financial statements including notes to the financial statements.
Following chapters are included in this section:
- Components of financial statements
- Users of financial statements
- Comparative information
- Balance sheet
- Three column balance sheet
- Income statement
- Earnings per share
- Income statement with discontinued operations
- Operating segments
- Example – Identification of reportable segments
- Sample segment reporting note to the financial statements
- Statement of comprehensive income
- Statement of changes in equity
- Statement of cash flows
- Direct vs indirect methods of cash flow statement
- Example – Direct method of cash flow statement
- Example – Indirect method of cash flow statement
- Financial reporting framework
- Notes to the financial statements