3 Questions
Which financial statement shows the cash received and spent by a company?
Cash flow statement
What additional information do UK companies have to file in their report besides financial statements?
A report from directors and auditors
What does the US 10-K report include that the UK directors' report does not?
Management's analysis and risk disclosures
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.
Test your knowledge of financial reporting with our quiz! Learn about the different types of financial reports, what they show, and why they're important. Brush up on the requirements for UK and US companies and delve into the details of directors' reports and 10-K reports. With our quiz, you'll be sure to impress with your knowledge of accounting and financial reporting.
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