Answer:
1. Statement of Financial Position
1. Statement of Financial PositionStatement of Financial Position, also known as the Balance Sheet, presents the financial position of an entity at a given date. It is comprised of the following three elements assets, liabilities and owner's equity.
2. Income Statement
2. Income StatementIncome Statement, also known as the Profit and Loss Statement, reports the company’s financial performance in terms of net profit or loss over a specified period.
3. Cash Flow Statement
3. Cash Flow StatementCash Flow Statement, presents the movement in cash and bank balances over a period.
4. Statement of Changes in Equity
Statement of Changes in EquityStatement of Changes in Equity, also known as the Statement of Retained Earnings, details the movement in owners’ equity over a period.
