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Questions and Answers
Which financial statement shows the cash received and spent by a company?
Which financial statement shows the cash received and spent by a company?
- Balance sheet
- Cash flow statement (correct)
- Notes
- Income statement
What additional information do UK companies have to file in their report besides financial statements?
What additional information do UK companies have to file in their report besides financial statements?
- A report from directors and auditors (correct)
- Risk disclosures
- Management's analysis
- A 10-K report
What does the US 10-K report include that the UK directors' report does not?
What does the US 10-K report include that the UK directors' report does not?
- Information about directors
- Management's analysis and risk disclosures (correct)
- Remuneration details
- Performance review
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Study Notes
- Companies must keep accounting records and produce financial reports.
- Financial reports include the balance sheet, income statement, cash flow statement, and notes.
- Balance sheet shows assets, liabilities, and equity.
- Income statement shows profit or loss during a period.
- Cash flow statement shows cash received and spent.
- Notes provide additional information about the financial statements.
- UK companies must file a report from directors and auditors.
- US companies must file a 10-K report with additional information.
- UK directors' report includes information about directors, remuneration, and performance review.
- US 10-K report includes management's analysis and risk disclosures.
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