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Notes to financial statement can be considered to be a financial statement since they report the details and additional information that are left out.
Comparative financial statements compares one set of financial statement with another set of financial statements while consolidated financial statement is prepared where in company there is parent and child company relationship exists to join the financial statements of parent and child company as a single financial statements.
1. Goal of consolidated financial statement is to combine the financial statement of parent as well as child companies as a one set of financial statement to show the overall performance of company rather showing separate financial statements for every company.
The goal in analyzing financial statements is to assess a company's past performance, current financial position; and to make predictions about the company's future performance. This directly relates to stocks, bonds, and other financial instruments.
The IPSAS formats are the required schedules under the International Public Sector Accounting Standards. These include: Statement of Financial Position Statement of Financial Performance Cash Flow Statement Statement of Changes in Equity
Statement of financial position (Balance sheet)
Statement of financial position (Balance sheet)
Balance & Statement of cash flows
Get StartedThe Personal Financial Statement can be used to organize information about the assets and liabilities of you and your spouse, and also to present information about your income and expenses. This statement can be useful if you are applying for credit and can either be used to present information to your lender or as an attachment to your credit application itself. Sometimes a financial statement is needed in working with a financial planner. You might also use it when preparing college financial aid documents for a child.
Get StartedThe Personal Financial Statement can be used to organize information about your assets and liabilities, and also to present information about your income and expenses. This statement can be useful if you are applying for credit and can either be used to present information to your lender or as an attachment to your credit application itself. Sometimes a financial statement is needed in working with a financial planner. You might also use it when preparing college financial aid documents for a child.
Balance Sheet: Balance sheet is the financial picture of an organization on a given day. while financial statement is a broader term and it can be for a very long time. financial statment is a formal record of business financial activities. it can be a day. month a year or so on. while balance sheet is just a part of a financial statement. in short balance sheet is also a finanaical statement. but finanacial statement can not be balance sheet..
Balance Sheet & Statement of Cash flows