Components of Financial Statements

A complete set of financial statements comprises the following components:

1. Statement of Financial Position (Balance Sheet)
2. Income Statement
3. Statement of Comprehensive Income
4. Statement of Changes in Equity
5. Statement of Cash Flows
6. Notes, comprising a summary if significant accounting policies and other explanatory information.

Many entities also present reports and statements such as environmental reports and value added statements, particularly in industries in which environmental factors are significant and when employees are regarded as an important user group.

However, such statements and reports are not components of financial statements and therefore outside of the scope of PFRS.