Post by account_disabled on Feb 13, 2024 10:55:02 GMT 2
The economic benefits an informative resource of great value to measure the performance and financial position of a company it is undoubtedly the financial statements with which management can be evaluated. know the economic benefits that have been achieved and clearly make relevant decisions for the organization. Financial statements are mostly issued for general purpose and their objective is to provide information about the financial situation performance and cash flows of the entity which is useful for making economic decisions for a wide range of users. of the financial statements.
Presentation of financial statements according to IFRS for SMEs Section of the IFRS for SMEs explains the fair presentation of the financial statements understanding this as the fact that requires the faithful representation of the Dominican Republic Email List effects of transactions and other events and conditions in accordance with the definitions and recognition criteria of each item established in section of this standard. In the scope of IFRS when we talk about financial statements we refer to The statement of financial position presents assets liabilities current and noncurrent and equity. The statement of comprehensive income presents the financial performance of the period.
The statement of changes in equity reflects all the variation in the equity items as well as gains or losses effects of policy changes and corrections of errors amounts of investments dividends and others. The statement of cash flows it reflects the changes that occurred in a period in cash and its equivalent classifying it into three items operating investing and financing activities. narrative descriptions or breakdowns of items presented most sections of this standard require information to be disclosed which is normally contained in the notes. There are five elements that make up a complete set of financial statements and not only the statement of financial position and the income statement as was normally done the notes to the IFRS are extremely important since.
Presentation of financial statements according to IFRS for SMEs Section of the IFRS for SMEs explains the fair presentation of the financial statements understanding this as the fact that requires the faithful representation of the Dominican Republic Email List effects of transactions and other events and conditions in accordance with the definitions and recognition criteria of each item established in section of this standard. In the scope of IFRS when we talk about financial statements we refer to The statement of financial position presents assets liabilities current and noncurrent and equity. The statement of comprehensive income presents the financial performance of the period.
The statement of changes in equity reflects all the variation in the equity items as well as gains or losses effects of policy changes and corrections of errors amounts of investments dividends and others. The statement of cash flows it reflects the changes that occurred in a period in cash and its equivalent classifying it into three items operating investing and financing activities. narrative descriptions or breakdowns of items presented most sections of this standard require information to be disclosed which is normally contained in the notes. There are five elements that make up a complete set of financial statements and not only the statement of financial position and the income statement as was normally done the notes to the IFRS are extremely important since.
