What is the financial statement? वित्तीय विवरण भनेको के हो?
- The accounting output of the bank or organization is called a financial statement.
- It is reporting part of account cycle which is used to provide information to the concern authorities.
- It is prepared by using unique techniques.
- It is also called the final account.
Core elements of financial statements /Major heading os Financial Statement
[Trading account + PL account = Income statement. But in case of B&FIs PL account is income statement]
तर B&FIs in Nepal prepare a financial statement as per the unified directory no. 4 (एकिकृत निर्देशिका नं. ४) of Nepal Rastra Bank including change in equity ( equity मा भएको परिवर्तन) and Notes to account (लेखाको टिप्पणी).
Importance of Financial Statement
(Importance of Balance Sheet, PL Account and Cash Flow Statement)