Financial statement definition clarifies required components and allows specified small entities to omit the cash flow statement. The legal definition of financial statement requires a balance sheet, a profit and loss or income and expenditure account, a cash flow statement, a ... Summary
Financial statement definition clarifies required components and allows specified small entities to omit the cash flow statement.
The legal definition of financial statement requires a balance sheet, a profit and loss or income and expenditure account, a cash flow statement, a statement of changes in equity where applicable, and any explanatory notes, while permitting One Person Companies, small companies and dormant companies to omit the cash flow statement.
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