Page 69 - Ebook Financial Accounting 3

Financial
Statement

Notes of Account

Statement of
Statement of
Statement of
Comprehensive Financial Position Changes in Equity Statement of Cash
Flow
Income

Figure 4.1

4.1 The various types of the Financial Statements

The timing, style and the amount of detailed information disclosed in the financial statements
prepared by the company for its internal users and for external users will be different.

➢ For internal use, the information needs of the internal users will dictate the quantum of

detailed information and the style of presentation of the Financial Statements
o Internal users - The Owners, the Board of Directors and Management

➢ The Financial Statements prepared for external users and submissions to the regulatory

authorities are to comply with the MFRS.
o External use - Prospective Investors / future investors, Government agencies

(e.g. SSM, IRB), creditors and banks / suppliers

The Financial Statements are to be stated in Malaysian currency & the corresponding

amounts for the previous period for all items in the Financial Statements are also to be
disclosed, mainly for comparative purposes.

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