What is the report prepared to summarise the entity's cash transactions for the period?

Question

Quizplus · Accepted Answer

The statement of cash flows is prepared to summarise the entity's cash transactions for the period, showing the inflows and outflows of cash and cash equivalents. The statement of comprehensive income shows the entity's revenue, expenses, gains, and losses during the period. The statement of changes in equity summarises the changes in equity during the period, including capital contributions, dividends, and changes in profit or loss. The statement of financial position shows the entity's assets, liabilities, and equity as of a specific date.

What Is the Report Prepared to Summarise the Entity's Cash