What are the financial situations?

Article by: D. Fernando Serrato | Last update: April 10, 2022
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The financial situation of a company is a diagnosis based on a set of accounting variables that allows measuring the performance of a company, in order to make decisions focused on solving problems.

What are financial situations?

The financial situation is represented by a series of resources to be used by the company, called ASSETS, and the demands on these resources represented by LIABILITIES and NET EQUITY. Active .

What are the 4 financial statements of a company?

Currently, there are four financial statements that clearly and comprehensively show what a company owns:

    General or situation balance. Income statement. Cash flow statement. Statement of changes in equity.

What are the statements of financial position?

The elements that make up the Statement of Financial Position are: assets, liabilities and equity, understanding as such the concepts defined in the Conceptual Framework of the IAS, as well as the provisions of International Accounting Standard No.

What are the 4 basic financial statements according to NIF?

Types of financial statements of a company

    Balance sheet. This balance is part of the annual accounts that companies prepare at the end of each accounting year. … Income statement for the year. … Statement of changes in equity. … Statement of cash flows.

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How are financial statements classified under IFRS?

Balance sheet. Statement of income. Statement of changes in Equity. Statement of change in financial position *

What are the financial statements in Peru 2021?

What are the Financial Statements in Peru?

    Balance Sheet. Income Statement. Statement of Changes in Equity. Cash Flow Statement.

How is the statement of financial position divided?

The statement of financial position is structured through three patrimonial concepts, assets, liabilities and net worth, each one of them developed in groups of accounts that represent the different penal elements.

What are the 4 basics?

What are the 4 basic financial statements for a company?

    Statement of Financial Situation. … Statement of income. … Statement of changes in Equity. … Cash flow statement.

What is the order of the financial statements?

The main financial statements are these three: Balance sheet. Statement of income. State of flows.

What are the basic accounting statements?

The basic financial statements are as follows:

State of patrimonial situation. Statement of income. Statement of evolution of net worth. Cash flow statement.

What are the 5 financial statements that exist in Bolivia?

The BCB, in compliance with the Basic Rules of the Integrated Accounting System and its Specific Regulations, issues the following basic financial statements: Balance Sheet, Income Statement, Cash Flow Statement, Statement of Changes in Equity.

What are the financial statements of the public sector in Peru?

Main Financial Statements in the Public Sector: (EF-1) Statement of Financial Position, (EF-2) Statement of Management, (EF-3) Statement of Changes in Equity, (EF-4) Statement of Cash Flows .

What are financial statements in the public sector?

The Financial Statements are a reflection of the movements in which the company has incurred during a period of time. The financial analysis serves as an objective examination that is used as a starting point to provide reference about the facts concerning a company.

What are the MEF financial statements?

Products of the accounting process, which in compliance with financial, economic and social purposes, are aimed at revealing the situation, activity and flows of physical and monetary resources of a public entity, at a specific date and period.

Where are the financial statements presented in Bolivia?

The physical copies of the Financial Statements or Annual Report and the corresponding documents, as indicated in Article 4 above, must be presented to the District Offices or GRACO of their jurisdiction or in another jurisdiction, within the same term established for the presentation. of the Declaration…

What are financial statements?

The financial statements are technical reports that reflect the economic, equity and financial situation of a company in a given period.

What are the mandatory financial statements in Argentina?

The statement of changes in working capital or of origin and application of funds is added as a mandatory basic statement.

    Statement of patrimonial situation or balance sheet. C. Statement of results (in non-profit entities, statement of expenses and resources). C. Statement of changes in net worth. c.

What are accounting statements?

Financial statements are reports that reflect the state of a company at a given time, usually one year. They are made up of several documents that reflect the financial situation of a business and collect information, both economic and patrimonial, of the companies.

What are financial statements and their importance?

The financial statements or accounting statements are reports that are made in order to obtain an image of the financial situation of a company. These documents allow an analysis and interpretation of the information for subsequent decision-making that benefits the company.

What is the purpose of financial statements?

The objective of financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide variety of users in making economic decisions.

What are financial statements and how are they classified?

The basic financial statements are the Balance Sheet, the Income Statement, the Statement of Changes in Equity, the Statement of Changes in Financial Position (Origin and Application of Funds), and the Statement of Cash Flows.

How should the financial statements be presented?

The financial statements must be presented in a synthetic way to provide an adequate overview of the financial situation and the results of the entity, exposing as complementary, the necessary information not included in them.

What requirements must the financial statements meet?

The financial statements and their notes must include information on: – The economic and financial resources of the company, its obligations and its assets. – Changes in the company’s equity. – The performance of the company during a period, measured through the results and their components.

When are the financial statements presented in Bolivia?

This new RND comes on account of the fact that this July 29 is the deadline for the presentation of Financial Statements of industrial and oil companies, which close their financial statements on March 31.

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