Tag Archives | Financial Statements

Financial Statements of a Business Enterprise

The financial statements are: 1. Profits and Loss Account 2. Balance Sheet 3. Statement of Changes in Financial Position (SCFP). Financial Statement # 1. Profits and Loss Account: Profit and loss account, also known as income Statement, presents the results of operations of a business enterprise for a period of time. This statement shows net […]

Statement of Changes in Financial Position: An Overview

In this article we will discuss about the Statement of Changes in Financial Position:- 1. Concept of Statement of Changes in Financial Position 2. Preparation of Statement of Changes in Financial Position 3. Significance 4. Limitation. Concept of Statement of Changes in Financial Position: A Statement of changes in financial position (funds statement) helps us […]

How to Prepare Funds Flow Statement?

The below mentioned article will guide you about how to prepare funds flow statement. In order to prepare funds flow statement, on total resources basis, successive balance sheet are compared and changes in each balance sheet item is recorded and further designated as a source of funds or a use of funds. The comparison of […]

Cash Flow Statement: Concept, Classification and Significance

In this article we will discuss about Cash Flow Statement:- 1. Concept of Cash Flow Statement 2. Classification of Cash Flow Statement 3. Presentation 4. Significance 5. Limitations. Concept of Cash Flow Statement: A Cash flow statement discloses net increase (or decrease) in cash during an accounting period. As per AS-3 (Revised) the objective of […]

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