Accountancy/Disclosures

Disclosures

Financial statement disclosures can be broken down into the following categories:

• Primary financial statements
• Nature of operations
• Basis of reporting
• Significant accounting policies
• Financial statement accounts
• Broad transaction categories

Primary financial statements

Disclosure name	Disclosure description	Disclosure type
Balance sheet	Reports assets and liabilities and equity as of a point in time. Also called statement of financial position.	Roll up of assets. Roll up of liabilities and equity
Income statement	Reports net income for a period of time. Also called statement of earnings	Roll up of net income (loss)
Cash flow statement	Reports cash flow for a period of time. Also called statement of cash flow	Roll up of net cash flow
Changes in equity	Reports changes in the line items of equity. Also called statement of changes in equity	Roll forward of each equity account