The final stage in the process of aggregation

and classification is the presentation of

condensed & classified data, which form
LINE ITEMS on the face of the financial
statements.
Financial Statements
Statement of Financial Statement of Financial
Position Position
Statement of Financial
Statement of Financial Performance
Performance Statement of Changes in
Statement of Changes in Net Assets/Equity
Net Assets/Equity Cash Flow Statement
Cash Flow Statement Notes to FS
Comparison Statement of
Notes to FS
Budget and Actual
Amounts

NGAS PPSAS demonstrate the

accountability of the entity
Identification of the Financial
Statements
Name of the reporting entity
Whether the FS cover the individual entity or the
economic entity
Reporting date
Presentation currency
Level of rounding used in presenting amounts
 Name of the reporting
entity
Whether the FS cover
the individual entity or
the economic entity
Reporting date
Presentation currency
Level of rounding used in
presenting amounts
Highlights:
Accrual Basis of Accounting
Classification of Assets & Liabilities- Order
of Liquidity
a) Financial Liability- due w/in 12 months
after the reporting date
Statement of Financial Performance
Presentation & Disclosure for Surplus or
Deficit (attributable to
owners/controlling entity)
Net Assets/Equity- Assets minus Liabilities
Highlights:..continuation..
Predictive or Prospective Role
a) in accordance w/legally adopted budget
b) in accordance w/ legal & contractual
requirements
Statement of Cash Flow
a) Presentation- Direct Method
b) Disclosure-Indirect Method
All Funds- (GF, TF, SEF)- individual w/
Notes to FS
COMBINED- (not consolidated)- one Note
to FS only
NEW
Classification of Assets & Liabilities-
Order of Liquidity
Investments
Current: Investment in Time
Deposits (Cash in Bank-
Local Currency, Time
Deposits)
Noncurrent: Investment in
Stocks

Receivables
Current: Current portion of
Loans Receivable
Noncurrent: Long-term
portion of Loans Receivable
Current & Noncurrent Liabilities
Financial Liabilities:
e.g. Loans Payable
Term Loan
Outstanding Principal- P5M
Annual Payment P1M

Current: P1M
Noncurrent: P4M
Presentation in Statement of Financial
Performance
 Presentation in Statement of Financial
Performance
CHART OF ACCOUNTS