The Five Financial Statements based on IFRS and How They are Prepared

Abstract

Companies must have financial statements that are useful for disclosing information on the financial condition of a company. Financial statements reflect the form of management's responsibility in using the resources entrusted to manage an entity. According to IFRS, there are 5, namely Income Statement which aims to determine the profit or loss of a company, Statement of change in Equity which aims to determine changes in the capital of a company within a certain period, Statement of Financial Position which aims to show the financial position of a company in a period, Statement of Cash Flow which aims to provide information related to cash receipts and disbursements of a bookkeeping, and the last Noted to Financial Statement which is useful for containing information that usually descriptive in nature, relating to general company information.