Main financial statements
In this lesson, you'll learn how to prepare the three core financial statements: the statement of financial position, the statement of profit or loss and other comprehensive income, and the statement of changes in equity.
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In this lesson
- 0:00 Session overview and financial statements agenda
- 0:29 The staged process of preparing financial statements
- 1:12 Key adjustments before finalising statements
- 2:16 IAS 1 requirements and complete statement structure
About this lesson
You'll discover the staged process that takes you from recording transactions through to finalising financial statements, and you'll explore the key adjustments required under International Financial Reporting Standards before statements can be completed. By working through a comprehensive illustration, you'll apply this knowledge to produce complete, accurate financial statements that meet IAS 1 presentation requirements. This is essential foundation material for Financial Reporting and Financial Accounting papers across ACCA and CIMA qualifications.
Duration: 3m
Transcript
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