Coming back to the Annual Report. Do you know what is Financial Statement? What does it consist of?
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Welcome to Dr Accounting twenty-four series.This series will be the last segment under the annual report. So, today I am going to share with you on Financial Statement. So what comprises in the financial statement.
You will have a financial position. You will have income statement. A statement of changes in the equity. A cash flow statement. The notes to the accounts, which will expand on related parties transaction, also the financial risk management.
Accounting policies as well as the director’s report. Quite a mouthful right. So all these aspects is very crucial to be in the financial statement. The annual report is one of the resolutions during the annual general meeting. I will share with you more about this in my future series.
As you are aware, accountants are also a strategic business leader. And you need to have certain skills in order to be a leader in the business career. I’m going to share with you on this in my next few series, so stay tuned, thank you.