The presentation on “Fundamentals of Financial Reporting” – PDF/PPT – covers the basics of financial reporting starting from the maintenance of books of accounts, preparation of financial statements, elements of financial statements and components of financial statements as follows:
- Balance Sheet
- Statement of changes in Equity
- Statement of Profit & Loss and other Comprehensive Income
- Statement of cash flows and
- Notes to Accounts
It explains financial position and its link to financial performance.
It also touches upon going concern assumption, qualitative characteristics and recognition criteria.