Financial statements are set of records of business activities and its position, It is presented in formal and understandable form. There are five financial statements.
- Statement of profit and loss and other comprehensive income (for the period, usually a year)
- Statement of financial position (SOFP) or Balance Sheet
- Statement of cash flows (for the period, usually a year)
- Statement of changes in equity (SOICE)
- Notes to the accounts / disclosures
Talal Hassan 
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