Original Articles

Basic Financial Statements: Objectives, Categories, Principles and Presentation

Published in: De Ratione
Volume 2 , issue 1 , 1988 , pages: 19–32

DOI: 10.1080/10108270.1988.11434995

Author(s): J.A. Miller University of Natal,

Keywords: – Objectives of Basic Financial Statements , – Assets , Liabilities and Equity , – Cash Flow Information , – Matching and Realisation Principles , – Statement of Cash Generated , – Statement of Cash Distributed , – Statement of Income Generated , – Statement of Income Apportioned , – Statement of Investment And Financing , – Statement of Changes In Reserves

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Abstract

Objectives ae suggested for each of the basic financial statements in the annual report of a business entity. Categories of information required and the principles used in their classification, are identified and defined. A suggested presentation reflects cash flow alongside income statement information, and separates cash and income generated from cash distributed and income apportioned. Cash flow statements articulate with cash as a distinct category of assets, and a statement of changes in reserves provides the link between income statement and balance sheet.

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