PPT: Financial Statement | Advanced Accounting for CA Intermediate PDF Download

 Page 1


Introduction
Financial statements are the end products of
the accounting process, which reveals the
financial results of the specified period and
financial position as on particular date. It is
the basic and formal annual report through
which a business communicates financial
information to its various user groups.
Page 2


Introduction
Financial statements are the end products of
the accounting process, which reveals the
financial results of the specified period and
financial position as on particular date. It is
the basic and formal annual report through
which a business communicates financial
information to its various user groups.
Nature of Financial Statement
1. Recorded facts
2. Accounting conventions
3. Postulates(Assumptions)
4. Personal Judgements
Page 3


Introduction
Financial statements are the end products of
the accounting process, which reveals the
financial results of the specified period and
financial position as on particular date. It is
the basic and formal annual report through
which a business communicates financial
information to its various user groups.
Nature of Financial Statement
1. Recorded facts
2. Accounting conventions
3. Postulates(Assumptions)
4. Personal Judgements
Page 4


Introduction
Financial statements are the end products of
the accounting process, which reveals the
financial results of the specified period and
financial position as on particular date. It is
the basic and formal annual report through
which a business communicates financial
information to its various user groups.
Nature of Financial Statement
1. Recorded facts
2. Accounting conventions
3. Postulates(Assumptions)
4. Personal Judgements
Framework 
for preparing Financial 
Statement
Qualitative characteristics 
of
financial statements
Components of
financial statements
Objectives of financial 
statements
j
k
l
Page 5


Introduction
Financial statements are the end products of
the accounting process, which reveals the
financial results of the specified period and
financial position as on particular date. It is
the basic and formal annual report through
which a business communicates financial
information to its various user groups.
Nature of Financial Statement
1. Recorded facts
2. Accounting conventions
3. Postulates(Assumptions)
4. Personal Judgements
Framework 
for preparing Financial 
Statement
Qualitative characteristics 
of
financial statements
Components of
financial statements
Objectives of financial 
statements
j
k
l
Objectives
1. To provide reliable financial information 
about economic resources(assets) and 
obligations(liabilities) of a business firm
2.To provide  information about the earning 
capacity of the business firm