Five (5) components of set of financial statements.

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Financial statement are report prepared by management of the entity to provide information to owners of the entity and other users about the financial position and financial perofrmance of the entity.
SET OF FINANCIAL STATEMENTS

The following are components of set of financial statements:

  • statement of financial position;
  • statement of comprehensive income;
  • statement of changes in equity;
  • statements of cash flows,
  • notes to financial statements.

Author: amidu edson

I am certified accountant with more than 5 years of teaching experience. Currently am teaching auditing and assurance, management accounting and financial accounting for student preparing for professional exams such as ACCA and CPA.

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