1.

What is included in the financial statements?

Answer»

As per section-2(40) of the Companies Act 2013, ‘Financial statement’ in relation to company includes –

  • A balance sheet as at the end of the financial year.
  • A profit and loss account or in case of a entity carrying on any activity not for profit, an income and expenditure account for the financial year.
  • Cash flow statement for the financial year.
  • A statement of changes in equity, if applicable.
  • Notes related to the accounts.


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