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Moscow: IAS bookkeeping

 Moscow: IAS bookkeeping





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Purpose of financial statements

Financial statements are a structured representation of the financial [one] position and financial performance of an entity. The objective of financial [two] statements is to provide information about the financial [three] position, financial performance and cash flows of an entity [four] that is useful to a wide range of users [five] in making economic decisions. Financial statements also [six] show the results of the managementís stewardship of the resources entrusted [seven] to it. To meet this objective, financial statements [eight] provide information about an entityís:
(a) assets;
(b) liabilities;
(c) [nine] equity;
(d) income and expenses, including gains and losses;
(e) [ten] contributions by and distributions to owners in their capacity as owners; [one] and
(f) cash flows.
This information, along with [two] other information in the notes, assists users of financial [three] statements in predicting the entityís future cash flows [four] and, in particular, their timing and certainty.

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Feature conception:

Thus it appears, in what various ways Nature has taught man her first great lesson of love and union.

Nor did she give the same talents either in kind or in degree to all, evidently meaning that the inequality of her gifts should be ultimately equalized by a reciprocal interchange of good offices and mutual assistance.

Thus, in different countries, she has caused different commodities to be produced, that expediency itself might introduce commercial intercourse.

Desiderius Erasmus

The Complaint of Peace


Moscow: IAS bookkeeping


IAS bookkeeping in Moscow

Chapter: Moscow IAS bookkeeping

Moscow: IAS bookkeeping


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