Complete set of financial statements PDF
This is coming from a CPA.
,Have you ever read a set of financial statements? The footnotes are an ESSENTIAL part of them.
,How does ANY database handle such long verbage properly?,If you are just look at numbers pretty much any database will work.
,If you are looking at the complete financial statements then I would suggest a simple PDF.
Complete set of financial statements example
Have an opinion and tell a story.
,You can train a monkey (at least a monkey who went to a wealthy Northeastern prep school and then an Ivy) to distill a pile of 10-Ks and Qs into a spreadsheet that is basically a reduced-dimensionality set of financial statements.
But you will end up with information instead of knowledge.
,Commenting on the trends in the financial statements (hey, look, their margin trend is terrible!, look, they are crushing it with negative working capital!) is the schoolboy approach.
Comparing the financials and valuation metrics to peers is the kind of lazy-but-hard work that people whove been told what to do their entire lives tend to excel at.
It is easy to find this kind of person to do this kind of work if you walk around the Ivies with a pile of two-hundred-thousand dollar bills.
,What its not easy to find is someone that will:,1.
Ask interesting questionsn2.
Develop an opinionn4.
Articulate and defend that opinion,The very best equity analysts tell stories.
The stories tend to have one of a relatively small set of structures, like most narrative.
But thinking of research as storytelling can point the way to a set of tools and heuristics that can illuminate things that are invisible if you just look at the numbers in isolation.
,For example:,Who are the players in this industry? What personalities are involved, either as corporate entities, or the specific people involved?,What are their inputs and outputs? Whats going on in those markets? Is the secular trend in market participants growing or shrinking? How about market size? How about supply constraints?,When are they chronologically weak or strong? Are there cross-industry dynamics in time that matter? How about intra-industry? Any regulatory changes on the horizon?,Where do these players operate? Whats going on in those localities?,Why have these players chosen the courses of action that they did? Is there evidence that the criteria they chose to set their direction are the right ones? Do you agree with their professed rationales?,How do these players view themselves and their peers? How are they viewed by other powerful actors that matter?,Once youve developed an opinion, articulating and defending it is important.
Consider studying journalism, which is at its best the study of telling stories with a point.
Also consider reading Made to Stick, a work about how to make your ideas have an effect on their receiver.
(Perhaps also Robert McKee Story.
),Firms like Sanford Bernstein have made a niche for themselves by paying up for researchers that are also writers, and who can produce this kind of work.
These folks exist at banks too.
Im out of touch with that scene (I havent worked in finance since ~2008), but folks like Jeffrey Rosenberg, Meredith Whitney, Rod Lache, etc.
There are also a number of fantastic examples in the buy side space: Bill Ackman and Whitney Tilson come to mind.
Heck, even folks like Fred Hickey.
,The important thing is this: have an opinion.
,Whether you are right or wrong matters less than that you express a point of view that engenders a thoughtful conversation with the folks who will commit risk dollars.
,If you have a heated discussion with a PM or trader and they ultimately do the complete opposite thing from what you thought they should do, and they make money, you are still responsible for honing their understanding of the situation, and they will remember that and take care of you at bonus time.
Complete set of financial statements of a company
A company is the organizational unit used in the legal consolidation module to roll up financial statements of several company codes.
,The Company Code is the smallest organizational unit for which a complete self-contained set of accounts can be drawn up for purposes of external reporting.
,For example, Infosys will be company and Infosys China, Infosys India will be company codes.
The Income Statement:The two ways in which a company normally obtains the economic resources necessary to operate its business: incurring debt and seeking new investors.
A third way in which a company can obtain resources is through its own operations.
,The Income Statement presents the results of operations of a business over a specified period of time (e.
, one year, one quarter, one month) and is composed of Revenues, Expenses and Net Income.
Revenue: Revenue is a source of income that normally arises from the sale of goods or services and is recorded when it is earned.
For example, when a retailer of roller blades makes a sale, the sale would be considered revenue.
,Expenses: Expenses are the costs incurred by a business over a specified period of time to generate the revenues earned during that same period of time.
For example, in order for a manufacturing company to sell a product, it must buy the materials it needs to make the product.
In addition, that same company must pay people to both make and sell the product.
The company must also pay salaries to the individuals who operate the business.
These are all types of expenses that a company can incur during the normal operations of the business.
When a company incurs an expense outside of its normal operations, it is considered a loss.
Losses are expenses incurred as a result of one-time or incidental transactions.
The destruction of office equipment in a fire, for example, would be a loss.
,Net income: The Revenue a company earns, less its Expenses over a specified period of time, equals its Net Income.
A positive Net Income number indicates a profit, while a negative Net Income number indicates that a company suffered a loss (called a u201cnet lossu201d).
,Here is an example of an Income Statement:To summarize, the Income Statement measures the success of a companyu2019s operations; it provides investors and creditors with information needed to determine the enterpriseu2019s profitability and creditworthiness.
A company has earned net income when its total revenues exceed its total expenses.
A company has a net loss when total expenses exceed total revenues.
Statement of financial position
The reason is described at length in Basis of Conclusions of IAS 1 para BC14 - BC21.
In summary, IASB views that the new title better reflects the function of the financial statement.
The old title pretty much describes the structure of the statement not so about the function.
The board is also in opinion that the new title is more consistent with the references made in the IFRS Framework and what people use to describe on the objective of the statement which is no other than to present the financial position of an entity.
,The relevant excerpts from the standards are as follows for your convenience.
Hope this helps.
,Titles of financial statements.
,[BC14] The exposure draft of 2006 proposed changes to the titles of some of the financial statementsu2014from balance sheet to statement of financial position, from income statement to statement of profit or loss and from cash flow statement to statement of cash flows.
In addition, the exposure draft proposed a statement of recognised income and expense and that all owner changes in equity should be included in a statement of changes in equity.
The Board did not propose to make any of these changes of nomenclature mandatory.
n,[BC15] Many respondents opposed the proposed changes, pointing out that the existing titles had a long tradition and were well understood.
However, the Board reaffirmed its view that the proposed new titles better reflect the function of each financial statement, and pointed out that an entity could choose to use other titles in its financial report.
n,[BC16]tThe Board reaffirmed its conclusion that the title statement of financial position not only better reflects the function of the statement but is consistent with the Framework for the Preparation and Presentation of Financial Statements, which contains several references to financial position.
Paragraph 12 of the Framework states that the objective of financial statements is to provide information about the financial position, performance and changes in financial position of an entity; paragraph 19 of the Framework states that information about financial position is primarily provided in a balance sheet.
In the Boards view, the title balance sheet simply reflects that double entry bookkeeping requires debits to equal credits.
It does not identify the content or purpose of the statement.
The Board also noted that financial position is a well-known and accepted term, as it has been used in auditors opinions internationally for more than 20 years to describe what the balance sheet presents.
The Board decided that aligning the statements title with its content and the opinion rendered by the auditor would help the users of financial statements.
n,[BC17]tAs to the other statements, respondents suggested that renaming the balance sheet the statement of financial position implied that the cash flow statement and the statement of recognised income and expense do not also reflect an entitys financial position.
The Board observed that although the latter statements reflect changes in an entitys financial position, neither can be called a statement of changes in financial position, as this would not depict their true function and objective (ie to present cash flows and performance, respectively).
The Board acknowledged that the titles income statement and statement of profit or loss are similar in meaning and could be used interchangeably, and decided to retain the title income statement as this is more commonly used.
n,[BC18]tThe title of the proposed new statement, the statement of recognised income and expense, reflects a broader content than the former income statement.
The statement encompasses both income and expenses recognised in profit or loss and income and expenses recognised outside profit or loss.
n,[BC19]tMany respondents opposed the title statement of recognised income and expense, objecting particularly to the use of the term recognised.
The Board acknowledged that the term recognised could also be used to describe the content of other primary statements as recognition, explained in paragraph 82 of the Framework, is the process of incorporating in the balance sheet or income statement an item that meets the definition of an element and satisfies the criteria for recognition set out in paragraph 83.
Many respondents suggested the term statement of comprehensive income instead.
n,[BC20]tIn response to respondents concerns and to converge with SFAS 130, the Board decided to rename the new statement a statement of comprehensive income.
The term comprehensive income is not defined in the Framework but is used in IAS 1 to describe the change in equity of an entity during a period from transactions, events and circumstances other than those resulting from transactions with owners in their capacity as owners.
Although the term comprehensive income is used to describe the aggregate of all components of comprehensive income, including profit or loss, the term other comprehensive income refers to income and expenses that under IFRSs are included in comprehensive income but excluded from profit or loss.
n,[BC20A]tIn May 2010 the Board published the exposure draft Presentation of Items of Other Comprehensive Income (proposed amendments to IAS 1) relating to the presentation of items of other comprehensive income (OCI).
One of the proposals in the exposure draft related to the title of the statement containing profit or loss and other comprehensive income.
The Board proposed this change so that it would be clear that the statement had two components: profit or loss and other comprehensive income.
A majority of the respondents to the exposure draft supported the change and therefore the Board confirmed the proposal in June 2011.
IAS 1 allows preparers to use other titles for the statement that reflect the nature of their activities.
n,[BC20B]tSeveral other IFRSs refer to the statement of comprehensive income.
The Board considered whether it should change all such references to statement of profit or loss and other comprehensive income.
The Board noted that the terminology used in IAS 1 is not mandatory and that statement of comprehensive income is one of the examples used in the standard.
The Board decided that there was little benefit in replacing the title statement of comprehensive income in other IFRSs or income statement with the statement of profit or loss.
However, the Board did change the terminology when an IFRS made reference to the two-statement option.
Statement of comprehensive income
A statement of comprehensive income differs from a typical income statement, which details profits and losses, but may omit changes in net assets due to transfer of equity holdings, change of ownership, or other factors.
IAS 1 presentation of financial statements
The requirement on the use of accrual accounting is set out in IAS 1 Presentation of Financial Statements para 27.
It is perhaps good to note that IAS 1 in general addresses the layout of financial statements as a whole while the other standards deal with specific items or components of financial statements which might help in adressing similar question in the future.
IAS 1 to 41 PDF
I dont feel to answer this absurd question , but u2026,If questioners u201cMuslimsu201d means those people of INDIA who follows a religion u201cIslamu201d , then a Big YES!,Civil Services Officers ( irrespectice of IAS , IPS etc ) their work for betterment and development of the society.
,The executive works due to these officers all over.
,If someone wants names of successful names , I will start from this year result .
,BILAL MOHI UD DIN BHAT 10,MUZAMMIL KHAN 22,SHAIKH TANVEER ASIF 25,HAMNA MARIYAM B A 28,ZAFFAR IQBAL 39,RIZWANBASHA SHAIK 48,SHEIK ABDUL RAHAMAN S 62,ARIF AHSAN 74,SYEED FAKHRUDIN HAMID 86,BISMA QAZI 115,SUHAIL QASIM MIR 125,S M QASIM ABIDI 177,RAZEEM K 191,GAUSH ALAM 206,NAHAS ALI 359,MD ADIL ASHRAF 435,PATHAN ADEEB DAULAT KHAN 450,SAQIB YOUSUF 472,HASEEN ZAHERA RIZVI 509,JABEEN FATHIMA J 525,ANAM SIDDIQUI 538,SHEIKH SAMI UR RAHMAN 554,MOHAMMAD ARSHAD 556,MINHAJ UDDIN NIZAMI 584,SHAIK SHAHABAAZ HANOOR 603,INABAT KHALIQ 604,FAISAL JAVAID 610,HARIS BIN ZAMAN 646,IRAJ RAJA 674,EZAZ AHMED 697,EHJAS ASLAM S 704,REHNA R 735,MANER NASIR IQBAL 753,ABDUL RAHEEM A 755,NASEEF ABDUL KADER 781,MUHAMMED SHABEER K 805,ANAYAT ALI CHOWDHARY 808,DANISH AGASTAM 814,JABBAR 822,TASLEEM AHMED 827,SHARDUL 828,MD MUSTAQUE 836,RENA JAMIL 882,SHUHAIB T 885,SHAHANSHA K S 897,MUHAMMED HANEEF 898,MD SARFARAZ ALAM 904,MD SARFARAJ ALAM 1028,SAJAD BASHIR 1042,AMIR BASHIR 1087,May be many of these brillant officers are here on Quora between us.
,Is it necessary to involve religion and caste in these top notch qualifications of the Democratic INDIA?,Do you know these men ??,ATHAR ALAM UL SHAFI KHAN , secured 2nd Rank in CSE - 2015 .
Currently giving servies in Rajasthan Cadre.
,SHAH FAESAL , Rank-1 CSE 2009 , working in JK Cadre.
,IQBAL DHALIWAL , from TN , Rank 1 , CSE - 1995,AMIR SHUBHANI , Rank 1 , CSE - 1987 , hails from Siwan, Bihar , one of the most trusted senior IAS in team of Nitish Kumar , CM , Bihar .
Amir SHUBHANI had hold many important portfolio in his career.
In 2015 , he was asked to served as Principle Secretary , Home Department , Bihar State.
,JAWED USMANI , retired I AS officer of UP , Rank 1 - CSE 1978 .
He served as Chief Secretary to Govt of UP.
He was alumni of AMU , IIM-A , London School of Economics.
,Sources :,Google , Wikipedia , CSE 2016 Result PDF,Religion doesnt helped to reach this place.
Their hard work , determination and obsession towards thier country helped .