IFRS Financial Statements

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Author:
pmc101
ID:
78431
Filename:
IFRS Financial Statements
Updated:
2011-04-14 16:04:25
Tags:
IFRS Financial Statements
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Description:
Layout of Various IAS Financial Statements
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  1. Statement of Comprehensive Income
    • Sales
    • Cost of Sales
    • Gross Profit
    • Other Operating Income
    • Less: Distribution Costs
    • Administrative Expenses
    • Operating Profit
    • Less: Other Expenses
    • Profit before Interest and Tax
    • Less: Finance Costs: Interest Paid
    • Profit Before Tax
    • Less: Corporate Tax Expense
    • Profit for the Year

    • Other Comprehensive Interest
    • Gains or Losses on Property Revaluation
    • Total Comprehensive Income for the year
  2. Balance Sheet
    • Non Current Assets: PPE, Investments, Intangibles
    • Current Assets: Inventory, Other Current Assets, Receivables, Cash & Equivalents
    • Total Assets

    • Equity and Liabilities
    • Equity
    • Share Capital: Ordinary Shares
    • Share Capital: Preference Shares
    • Reserves: Share Premium Account
    • Reserves: Revaluation Reserve
    • Reserves: General Reserves
    • Reserves: Retained Earnings

    • Liabilities
    • Non-Current Liabilities
    • Borrowings
    • Loan Notes, Debentures

    • Current Liabilities
    • Payables
    • Accruals
    • Corporation Tax Expense
    • Overdraft

    Total Equity and Liabilities
  3. Manufacturing Account
    • Direct Materials
    • Opening Inventory
    • Purchases (net of returns)
    • Less: Closing
    • =Raw Materials Used in Production

    • Direct Labour
    • Direct Expenses
    • =Prime Cost

    • Indirect Manufacturing Costs
    • Indirect Wages
    • General Factory Expense
    • Total indirect manufacturing costs

    • Manufacturing cost during the year (Prime + Indirect)
    • Add: Opening Inventory of WIP
    • Less: Closing Inventory of WIP
    • Change in Inventory of WIP

    Cost of Finished Goods Produced (Manu Cost +/- WIP)
  4. Appropriation Statement
    • Net Profit
    • Add: Interest on Drawings

    • Less: Salary
    • Interest On Capital

    • Residual Profit
    • Share of Residual
    • Total Allocation

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