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Published accounts The annual financial report of a limited company, produced in accordance with the companies Act and

other relevant rules and regulation laid down by the accounting profession or the stock Exchange. Financial Statement A financial statement that measures a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a specific accounting period, typically over a fiscal quarter or year. also known as the "profit and loss statement" or "statement of revenue and expense".

This is an income statement for Sainsburys. The picture above shows the total income that it has made for the year 2009 and 2008.
additional notes and information added to the end of financial statements to supplement the reader with more information. Notes to financial statements help the computation of specific items in the financial statements as well as provide a more comprehensive assessment of a company's financial condition. Notes to financial statements can include information on debt, going concern, accounts, contingent liabilities, or contextual information explaining the financial

Balance sheet In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period

alance sheet of The firm Sainsbury and you could see here that the Balance sheet contains fixed a ce sheet shows the summary of financial balances for the three year ended.

Cash Flow statement

The picture above shows a cash flow statement of the firm J Sainsbury Plc showing how changes in balance sheet accounts and income affect cash and

e owners' interest in the organization, and in the application of retained profit or surplus from one to the nex

cash equivalents, and breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow statement is concerned with the flow of cash in and cash out of the business. Statement of changes in equity

The Directors are responsible for preparing the Annual Report, the Remuneration report and the financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the Company and Group financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for Directors Report In preparing these financial that period. statements, the Directors are required to: select suitable accounting policies and then apply them consistently; make judgements and accounting estimates that are reasonable and prudent; state whether applicable IFRSs as adopted by the European Union have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the

Auditors Report An auditors report is considered an essential tool when reporting financial information to users, particularly in business. Since many third-party users prefer, or even require financial information to be certified by an independent external auditor, many auditees rely on auditor reports to certify their information in order to attract investors, obtain loans, and improve public appearance. Some have even stated that financial information without an auditors report is essentially worthless for investing purposes

Private limited companies are not required to publish financial statements. This is due to the fact that the general public did not contribute to the formation of capital of the organisations. Of course the government will need their statement of account for the purpose of tax computation. The information contained in the accounts of public companies is greatly needed by the general puclic: creditors will be interested in the financial position of the companies as at a particular accounting period to enable them make credible financial decisions; investors will like to know the fate of the fortunes they invested in anticipation of a continuous flow of financial benefit over a series of years; government must have a picture of the income of such companies for tax reasons. Moreover, the public companies themselves will like to portray a good corporate image so as to earn the confidence of creditors and potential investors. Usually, this is achieved through the publication of divident declaration, which will likely increase the value of the companies' shares on the flow of the stock exchange.