Chapter 13, Problem 1QS

To determine

Income Statement:

Income statements are the statements which evaluate the financial position of the company of a particular period of time with respect to net profit or loss over a period of time.

Balance Sheet:

Balance sheet is the financial statement which represents the financial position the company at a given point of time.

Prospectus:

Prospectus is a document of a company enforced by law for the companies which are proposed to offer their shares to the public.

Financial Statement Notes:

Financial statements notes are the footnotes to provide any additional information. It indicates information which does not form part of balance sheet and income statement account.

Company News Releases:

Company news releases constitute news conveyed by firms for making news.

Statement of Cash Flows:

Statements of cash flows constitute a part of financial statement and specify the amount of cash inflows and outflows. It consists of operating activities, investing activities and financing activities.

Stock Price Information and Analysis:

Stock price information and analysis is an examination of shares and stock of a firm which is valuable for the investors.

Statement of Shareholders Equity:

Statement of shareholders equity represents changes in equity that have occurred during a given period. Any contribution made will lead to increase in capital whereas any withdrawals reduce the amount of capital.

To identify: Classification of items in financial reporting and general purpose financial statements.