What are the basic financial statements provided in an annual report?

Accountants refer to the income statement accounts (revenues, expenses, gains, losses) as temporary accounts because their balances will be closed and transferred to the owner's capital account at the end of the year.

According to IAS1 " Presentation of Financial Statement" Financial Statements represents

Statement of Financial Position

Statement of Profit or Loss

Statement of Cash flow

statement of stockholders' equity

And Notes to the Accounts

Option two should be right answer

Option2 is the right answer.

The basic financial statements are

• Statement of Profit or Loss (Income Statement)
• Statement of Financial Position (Balance Sheet)
• Statement of Cash Flows
• Statement of Changes in Equity

income statement, balance sheet and cash flow statement

The basic financial statements of an enterprise include the 1) balance sheet , 2) income statement, 3) cash flow statement, and 4) statement of changes in owners' equity or stockholders' equity.& Notes on accounts associated with the financial statement as Per IFRS standard ‎

BALANCE SHEET

INCOME STATEMENT

CASH FLOW SATEMENT

STOCKHOLDER'S EQUITY

AUDIT REPORT

Option 2 has the main items and there is also notes to the accounts which includes a Fixed Asset Schedule to detail depreciation etc.

1-Statment of Financial Position

2- Statment of Comprehensive income statment with notes.

3- Statment of changes in Equity

4-Statment of Cash Flow Statment.