Ordinarily, liabilities are obligations a person owes to another person. In personal finance, a liability is a debt a person...
Financial Statement
Business cannot involve in what scientists term evolution. Businesses are formed for a particular purpose with an aim. For a...
To arrived at net income or total comprehensive income, expenses are deducted from the gross income. What are the expenses...
What exactly is income? To help understand it, after defining income, we will analyze the term from various aspects. That...
Directors' reports, chairman reports, a report from the CEO and other reports, such as corporate governance, forms part of the...
A financial statement is not complete, unless if a note or footnote, as it is sometimes called, is included in...
The statement of cash flow is an integral part of the financial statements prepared by businesses all over the world....
IAS 1 required companies to prepare and present a statement of changes in equity of the company. Such a statement...
The term statement of profit or loss is coined from the International Accounting Standards (IAS) 1. Other possible names are...
A statement of financial position is one of the sets of financial statements that are required to be prepared and...
