Tag Archives | Preparation of Financial Statements

Preparation of Financial Statements | Insurance Business

The following are some of the basic provisions for preparation of financial statements of insurance business: Application of Accounting Standards: Every Balance Sheet, Receipts and Payments Account [Cash Flow Statement] and Profit and Loss Account [Shareholders' Account] of the insurer shall be in conformity with the Accounting Standards (AS) issued by the ICAI, to the extent applicable to the insurer [...]

By Nilima M|2017-02-06T20:58:57+00:00February 6, 2017|Financial Statement|Comments Off

Preparation of Financial Statements

After reading this article you will learn about the preparation of financial statements. Financial Statements: As per IFRSs financial statements comprise of Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and related notes to accounts. Statement of Comprehensive Income has two sub-components - Statement of Income and Statement of Other Comprehensive [...]

By Nidhi B|2016-12-23T06:39:16+00:00December 23, 2016|Preparation|Comments Off

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