995:. IAS Plus (This material is provided by Deloitte Touche Tohmatsu Limited (“DTTL”), or a member firm of DTTL, or one of their related entities. This material is provided “AS IS” and without warranty of any kind, express or implied. Without limiting the foregoing, neither Deloitte Touche Tohmatsu Limited (“DTTL”), nor any member firm of DTTL (a “DTTL Member Firm”), nor any of their related entities (collectively, the “Deloitte Network”) warrants that this material will be error-free or will meet any particular criteria of performance or quality, and each entity of the Deloitte Network expressly disclaims all implied warranties, including without limitation warranties of merchantability, title, fitness for a particular purpose, non-infringement, compatibility, and accuracy.)
970:. IAS Plus (This material is provided by Deloitte Touche Tohmatsu Limited (“DTTL”), or a member firm of DTTL, or one of their related entities. This material is provided “AS IS” and without warranty of any kind, express or implied. Without limiting the foregoing, neither Deloitte Touche Tohmatsu Limited (“DTTL”), nor any member firm of DTTL (a “DTTL Member Firm”), nor any of their related entities (collectively, the “Deloitte Network”) warrants that this material will be error-free or will meet any particular criteria of performance or quality, and each entity of the Deloitte Network expressly disclaims all implied warranties, including without limitation warranties of merchantability, title, fitness for a particular purpose, non-infringement, compatibility, and accuracy.)
628:
657:"The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions." Financial statements should be understandable, relevant, reliable and comparable. Reported assets, liabilities, equity, income and expenses are directly related to an organization's financial position.
51:
793:
Different countries have developed their own accounting principles over time, making international comparisons of companies difficult. To ensure uniformity and comparability between financial statements prepared by different companies, a set of guidelines and rules are used. Commonly referred to as
844:
Management discussion and analysis or MD&A is an integrated part of a company's annual financial statements. The purpose of the MD&A is to provide a narrative explanation, through the eyes of management, of how an entity has performed in the past, its financial condition, and its future
660:
Financial statements are intended to be understandable by readers who have "a reasonable knowledge of business and economic activities and accounting and who are willing to study the information diligently." Financial statements may be used by users for different purposes:
691:
make use of financial statements to assess the viability of investing in a business. Financial analyses are often used by investors and are prepared by professionals (financial analysts), thus providing them with the basis for making investment
848:
The section contains a description of the year gone by and some of the key factors that influenced the business of the company in that year, as well as a fair and unbiased overview of the company's past, present, and future.
856:, capital resources, results of its operations, underlying causes of material changes in financial statement items (such as asset impairment and restructuring charges), events of unusual or infrequent nature (such as
669:
is then performed on these statements to provide management with a more detailed understanding of the figures. These statements are also used as part of management's annual report to the
845:
prospects. In so doing, the MD&A attempt to provide investors with complete, fair, and balanced information to help them decide whether to invest or continue to invest in an entity.
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Relevant financial information is presented in a structured manner and in a form which is easy to understand. They typically include four basic financial statements accompanied by a
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Owners and managers require financial statements to make important business decisions that affect its continued operations.
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798:(GAAP), these set of guidelines provide the basis in the preparation of financial statements, although many companies
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Financial institutions (banks and other lending companies) use them to decide whether to grant a company with fresh
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Alexander, D., Britton, A., Jorissen, A., "International
Financial Reporting and Analysis", Second Edition, 2005,
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Consolidated financial statements are defined as "Financial statements of a group in which the
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942:"Accounting standards and value relevance of financial statements: An international analysis"
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Formal record of the financial activities and position of a business, person, or other entity
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Recently there has been a push towards standardizing accounting rules made by the
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Standard IAS 1, International
Accounting Standards Board. Accessed 24 June 2007.
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929:"The Framework for the Preparation and Presentation of Financial Statements"
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or for individuals in discussing their compensation, promotion and rankings.
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Improving
Business Reporting: Insights into Enhancing Voluntary Disclosures
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is managed, which may be made available via financial statements (or
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has made a commitment to converge the U.S. GAAP and IFRS over time.
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821:(for publicly quoted companies only), are under consideration in
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International
Accounting Standards Board. Accessed 24 June 2007.
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IFRS Foundation & International
Accounting Standards Board
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Fundamental
Analysis: Notes To The Financial Statements
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1038:"Nico Resources Management's Discussion and Analysis"
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agreements (CBA) with the management, in the case of
802:information beyond the scope of such requirements.
964:"IAS 27 — Separate Financial Statements (2011)"
852:MD&A typically describes the corporation's
1150:"New legal framework for financial statements"
1063:"PepsiCo Management's Discussion and Analysis"
989:"IFRS 10 — Consolidated Financial Statements"
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8:
864:), positive and negative trends, effects of
676:Employees also need these reports in making
811:International Financial Reporting Standards
714:Stockholders may from time to time request
316:International Financial Reporting Standards
1026:MD&A & Other Performance Reporting
783:International Financial Reporting Standard
615:
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807:International Accounting Standards Board
796:Generally Accepted Accounting Principles
785:10 "Consolidated financial statements".
909:
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917:"Presentation of Financial Statements"
893:Comprehensive annual financial report
306:Generally-accepted auditing standards
7:
1159:. Library of the European Parliament
1137:Financial Accounting Standards Board
834:Financial Accounting Standards Board
769:are presented as those of a single
321:International Standards on Auditing
840:Management discussion and analysis
647:management discussion and analysis
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775:International Accounting Standard
378:Notes to the financial statements
765:of the parent (company) and its
737:Consolidated financial statement
653:Purpose for financial statements
326:Management Accounting Principles
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631:Historical financial statements
1016:. Retrieved on April 20, 2012.
883:Corporate financial accounting
777:27 "Consolidated and separate
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301:Generally-accepted principles
888:Financial statement analysis
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813:that have been adopted by
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1122:Resources in your library
789:Standards and regulations
170:Constant purchasing power
67:Constant purchasing power
858:mergers and acquisitions
501:Accounting organizations
489:People and organizations
878:Accountable Fundraising
249:Amortization (business)
809:(IASB). IASB develops
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703:(such as a long-term
678:collective bargaining
630:
373:Management discussion
1191:Financial statements
800:voluntarily disclose
636:Financial statements
340:Financial statements
293:Accounting standards
1113:Financial statement
566:Earnings management
536:Positive accounting
410:Double-entry system
400:Bank reconciliation
205:Revenue recognition
854:liquidity position
667:Financial analysis
633:
541:Sarbanes–Oxley Act
476:Sarbanes–Oxley Act
405:Debits and credits
240:Cost of goods sold
195:Matching principle
1108:Library resources
1096:978-1-84480-201-2
817:, Canada and the
781:statements", and
640:financial reports
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586:Two sets of books
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223:Selected accounts
160:Accounting period
18:Financial records
16:(Redirected from
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125:Governmental
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519:Development
496:Accountants
392:Bookkeeping
311:Convergence
269:Liabilities
200:Materiality
88:Major types
1073:2014-02-19
1048:2014-02-19
999:2013-11-29
974:2013-11-29
904:References
763:cash flows
709:debentures
701:securities
692:decisions.
554:Misconduct
180:Fair value
130:Management
72:Management
43:Accounting
1143:UN/CEFACT
866:inflation
815:Australia
779:financial
718:into how
705:bank loan
689:investors
576:Hollywood
456:Financial
358:Cash-flow
115:Financial
1185:Category
872:See also
759:expenses
561:Creative
531:Research
461:Internal
448:Auditing
264:Goodwill
259:Expenses
110:Forensic
35:a series
33:Part of
948:1 April
716:insight
526:History
420:Journal
279:Revenue
165:Accrual
1163:6 June
1139:(U.S.)
1110:about
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755:income
751:equity
743:assets
471:Report
425:Ledger
368:Income
363:Equity
274:Profit
254:Equity
230:Assets
135:Social
100:Budget
1153:(PDF)
466:Firms
95:Audit
1165:2013
1092:ISBN
950:2023
825:and
761:and
638:(or
235:Cash
120:Fund
105:Cost
1174:by
860:or
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140:Tax
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