Financial Statement Layout – An overview    

Introduction

Financial Statements are very essential for reporting and decision making purposes. The need for generating Financial Statements may be Statutory or for Internal management reporting. Financial statements need to support transparency, accountability and disclosure of financial transactions, apart from supporting financing decisions, operating decisions and investing decisions.

Financial Statements include the following;

• Balance Sheet

• Profit and loss statement (Income Statement)

• Cash Flow Statement

Feature Highlights

• Supports defining schedules and layouts for a Finance book.  Incremental (Step by step) approach to creation of Financial Statements. 

• Schedules are first prepared and all the posting account codes are mapped to appropriate schedules. Then, layouts comprising the schedules are prepared. The layout classification can be Balance Sheet, Income Statement or Cash Flow Statement.

• Option of assigning Schedules to the pre-defined or default financial statements is also available. The user is given a predefined Balance Sheet and an Income Statement and default Cash flow statement, to which he can map the schedules defined.

• The schedules and layouts defined for a finance book can be copied to another finance book or a company.

List of Activities