Financial statements

Ten Common Notes to the Financial Statements

By Maire LoughranExplanatory notes are discussions of items that accompany the financial statements, which are the income statement, the balance sheet, and the statement of cash flows. These notes are important disclosures that further explain numbers on the financial statements. The reason for these notes harkens back to fulfilling the needs of the external users of the financial statements. Notes that show the basis for presentation The first order of business when preparing explanatory notes is explaining, in general, the business and significant accounting policies.



Pro Forma Financial Statements Pro Forma Financial Statements

1. Pro Forma Financial Statements 2. Pro Forma Financial Statements • Projected or “future” financial statements. – The idea is to write down a sequence of financial statements that represent expectations of what the results of actions and policies will be on the financial status of the firm into the future. • Pro forma income statements, balance sheets, and the resulting statements of cash flow are the building blocks of financial planning. • They are also vital for any valuation exercises one might do in investment analysis or M&A planning.



SSARS No. 21 and Preparation of Financial Statements

The American Institute of Certified Public Account’s (AICPA) Accounting and Review Services Committee recently released the Statement on Standards for Accounting and Review (SSARS) No. 21. SSARS No. 21 intends to clarify and revise existing standards for reviews, compilations, and engagements to prepare financial statements and will significantly affect accountants in public practice who prepare financial statements for their clients. The AICPA believes SSARS No. 21 will help to modernize these standards and is a better fit for today’s electronic environment.



Audited Financial Statements

The Finance Department is responsible for managing the City’s financial operations in accordance with established policies and plans. The Finance Department recommends fiscal policies to City management and implements such policies.  The Department provides fiscal support to all City departments and programs and ensures that the fiscal affairs of the City are effectively managed in accordance with the City's municipal code, policies, state, and federal statutes. Program Activities: Financial Planning and Reporting: Coordinates preparation and monitoring of annual budget; prepares the City’s comprehensive annual financial report (CAFR); coordinates annual and special audits; oversees grant financial reporting and compliance; prepares interim financial reports and maintains and facilitates access to the City’s financial system; and reviews potential agenda items to determine possible fiscal impact on the City.



Publications

New Year’s resolutions for IFRS reporters; how to accept the new Insurance Standard and our regular columns on IFRS 16, 9 & 15. Paragraph 4 of IAS 29, ‘Financial reporting in hyper-inflationary economies’, requires the standard to be applied from the beginning of the period in which the existence of hyper-inflation is identified. This In brief explains the implications of that guidance and sets out the countries that are expected to be hyper-inflationary at 31 December 2016 (based on data from the IMF). PwC's publication, Illustrative IFRS financial statements 2016 - Private equity funds, provides an illustrative set of financial statements, prepared in accordance with International Financial Reporting Standards (IFRS), for a fictional private equity limited partnership (‘ABC Private Equity LP’ or the ‘Partnership’).



Sasini limited (Kenya) HY 2014 financial results

1. SASINI LIMITED SASINI HOUSE, LOITA STREET,P. O BOX 30151-00100, NAIROBI (A Member of The Sameer Group) ANNOUNCEMENT OF RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2014 (Unaudited) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 31. 03. 2014 31. 03. 2013 31. 03. 2014 31. 03. 2013 Ksh ‘000 Ksh ‘000 Ksh ‘000 Ksh ‘000 Revenue 1,377,568 1,474,913 281,340 205,932 Gains/(Losses) arising from changes in fair value of biological assets less cost to sell (12,334) 50,253 49,110 25,421 Results from operating activities 39,463 285,059 82,346 23,117 Finance income 5,854 2,678 5,336 1,836 Finance cost (4,573) (1,369) (4,573) (1,369) Profi t before tax 40,744 286,368 83,109 23,584 Tax expense (12,223) (85,910) (24,933) (7,075) Profi t for the year 28,521 200,458 58,176 16,509 Profi t attributable to: Non-controlling interest.



FISA A Complete Set of Financial Statements for Agriculture

0 Comments 0 Likes Statistics Notes Be the first to like this 1. December 1997 E. B. 97-22 FISA A Complete Set of Financial Statements for Agriculture by Eddy L. LaDue Department of Agricultural, Resource, and Managerial Economics College of Agriculture and Life Sciences Cornell University Ithaca, New York 14853-7801 2. FISA A Complete Set of Financial Statements for Agriculture Table of contents Page Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .



Financial Statement Reporting Under Regulation S-X (SEC)

Financial statement reporting under Regulation S-X is a very important regulation for a publicly held company; the Securities and Exchange Commission (SEC) uses this regulation as principal one to oversee the form and content of financial statements submitted by the securities issuers. If you are in the United States and working for a public company, knowing the regulation can be as important as knowing your parent’s name. Though you can access the complete text on the SEC’s website for more detail regulation, this post is a light overview that can be a good start.



Honda Finance Statements

Honda Motor Co. , Ltd. and its subordinates grow, make, distribute and provide financing for the sale of its various products like motorcycles, automobiles and power products. Honda’s manufacturing operations are basically carried out in thirty one different plants. Five such factories are to be found in Japan. The main foreign manufacturing facilities are situated in different locations, like the United States of America, Canada, Mexico, the United Kingdom, France, Italy, Spain, India, Indonesia, Malaysia, Pakistan, the Philippines, Taiwan, Thailand, Vietnam, Brazil and Turkey.



Accounting Interview Questions & Answers (Basic)

1. Walk me through the 3 financial statements. "The 3 major financial statements are the Income Statement, Balance Sheet and Cash Flow Statement. The Income Statement gives the company's revenue and expenses, and goes down to Net Income, the final line on the statement. The Balance Sheet shows the company's Assets - its resources - such as Cash, Inventory and PP&E, as well as its Liabilities - such as Debt and Accounts Payable - and Shareholders' Equity. Assets must equal Liabilities plus Shareholders' Equity. The Cash Flow Statement begins with Net Income, adjusts for non-cash expenses and working capital changes, and then lists cash flow from investing and financing activities; at the end, you see the company's net change in cash.



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