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Financial statement
- Financial statements include the balance sheet, income statement, cash flow statement, and notes. They provide information on a company's financial position and performance. - The balance sheet presents a snapshot of a company's assets, liabilities, and equity on a given date. It provides information on a company's worth and financial position. - The income statement is prepared to determine the profit or loss of a company over a period of time. It shows operating performance. - Managerial remuneration is calculated as a percentage of company profits and has limits set by the Companies Act based on the number of managing directors and effective capital. Certain items are excluded from profits in calculating remuneration.
