Financial Statements

This section on Financial Statements has been prepared with the intention of assisting those with a non-financial background in understanding and interpreting a set of financial statements which have been prepared in accordance with the International Financial Reporting Standard for Small and Medium-sized Entities. For example, the business owner and/or non-financial executive.

Financial Statements typically comprise:

  1. An Index and Approval page.
  2. A Report from the person who has prepared the Financial Statements.
  3. A Report from the Office Bearers of the Entity concerned.
  4. A Statement of Financial Position.
  5. A Statement of Income and Retained Earnings
  6. A Statement of Cash Flows
  7. Accounting Policies and Notes to the Financial Statements