Question

1.what is entry financial performance and position?
2.what is IFRS presentation financial statements regarding to SOCI SOFB SOCF

required:the answer for each question must be just 3
 Sentences.

Answer 1

Ans 1: Financial performance is a measure of how a firm can use its assets from its business revenues.

there are 4 types of financial statements so that a firm can evaluate its financial position.

a) Statement of financial position: Also known as the balance sheet shows the financial position of an entity at a given date. - Assets, Liabilities and Equity.

b) Income Statement: Also known as Profit and loss Statement, reports the company's financial statement in terms of profit or loss over a specified period. It consists of 2 items: - Income, Expense.

c) Cash Flow Statement: Shows the movement of Cash and the bank over a period - Operating, Investing and Financing Activity.

d) Statement of changes in equity: Also known as Statement of Retained Earning, details the movement in owners' equity over a period. The movement in owners' equity is derived from the following components:- Share Capital issued and repaid during the period, dividend payments, Gains or losses recognized directly in equity.