Complete Set of Financial Statements & its General Features

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....including gains and losses; * contributions by and distributions to owners in their capacity as owners; and * cash flows. This information, along with other information in the notes, assists users of financial statements in predicting the entity's future cash flows and their timing and certainty. Complete set of financial statements A complete set of financial statements comprises: * a balance sheet as at the end of the period (BS); * a statement of profit and loss for the period (P&L) Along with Statement of changes in equity for the period (SOCE); * a statement of cash flows for the period; * notes, comprising significant accounting policy information and other explanatory information;] * comparative information in respec....

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....ts such as environmental reports and value added statements, particularly in industries in which environmental factors are significant and when employees are regarded as an important user group. Reports and statements presented outside financial statements are outside the scope of Ind ASs. Presentation of True and Fair View and compliance with Ind ASs Financial statements shall present a true and fair view of the financial position, financial performance, and cash flows of an entity. Presentation of true and fair view requires the faithful representation of the effects of transactions, other events, and conditions in accordance with the definitions and recognition criteria for assets, liabilities, income and expenses set out in the Concep....