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Form and Content of Financial Statements


             The balance sheet should at least include the following items:.
             (a) cash and cash equivalents;.
             (b) trade and other receivables; .
             (c) inventories;.
             (d) investments accounted for using the equity method;.
             (e) other financial assets (excluding items (a), (b), and (d));.
             (f) fixed assets;.
             (g) intangible assets;.
             (h) deferred tax assets or liabilities;.
             (i) liabilities and assets for current tax;.
             (j) trade and other payables;.
             (k) estimated liabilities;.
             (l) financial liabilities (excluding amounts shown under (j) and (k));.
             (m) minority interest;.
             (n) capital (capital stock), capital surplus, and retained earnings (or accumulated deficit).
             II. INCOME STATEMENT.
             The income statement should at least include following items:.
             (a) operating revenues.
             (b) operating costs.
             (c) operating expenses.
             (d) net operating income.
             (e) interest expense.
             (f) gain or loss on investment accounted for using the equity method.
             (g) income tax expense.
             (h) net income from continuing operation.
             (i) extraordinary gain or loss.
             (j) minority interest.
             (k) net income.
             III. STATEMENT OF CASH FLOWS.
             The statement of cash flows shall provide relevant information about the operating, investing, and financing activities of an enterprise during a specific period by reporting their effects on inflows and outflows of cash and cash equivalents. Preparation of the statement of cash flows should be in accordance with the Statement of Financial Accounting Standards No. 17 "Statement of Cash Flows".
             IV. FOOTNOTES TO FINANCIAL STATEMENTS.
             The footnotes to financial statements should disclose the following:.
             (a) principal accounting policies;.
             (b) information required by the Statements of Financial Accounting Standards; and.
             (c) additional information that is necessary for a fair presentation.
             D. ACCOUNTING POLICIES AND PRINCIPLES.
             Accounting policies are the basic assumptions, principles, detailed standards, procedures and methods that are used in the preparation of financial statements by business enterprises.


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