Nature and Structure of Financial Statements

This week’s topics

Nature and Structure of Financial Statements

1. Statement of profit or loss
2. Statement of financial position
3. Statement of cash flows
4. Core accounting principles and conventions
5. FINANCIAL STATEMENTS: all the basics in 8 MINS!
6. The Statement of Financial Position - ACCA Financial Accounting (FA) lectures
7. Statement of Cash Flows Introduction (part a) - ACCA Financial Accounting (FA) lectures

What you will be able to do

• 2.1 Differentiate between different financial statements.

Activity

Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: differentiate between different financial statements.

Study materials

Videos

• FINANCIAL STATEMENTS: all the basics in 8 MINS! · YouTube · Accounting Stuff · 9 min · for registered students
• The Statement of Financial Position - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 16 min · for registered students
• Statement of Cash Flows Introduction (part a) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 10 min · for registered students

Further resources

• Principles of Accounting, Volume 1: Financial Accounting, ch. 2: Introduction to Financial Statements · PDF · OpenStax, textbook chapter; pp. 67–114 · for registered students
• Financial Accounting, ch. 3: In What Form Is Financial Information Actually Delivered to Decision Makers Such as Investors and Creditors? · PDF · Saylor Academy, textbook chapter; pp. 62–99 · for registered students
• Intermediate Financial Accounting Vol. 1, Lyryx 2021-A, ch. 4: Financial Reports – Statement of Financial Position and Statement of Cash Flows · PDF · Other, textbook chapter; pp. 75–136 · for registered students