Dating reissued financial statements

23 Feb

The cash flow statement represents an analysis of all of the transactions of the business, reporting where the firm obtained its cash and what it did with it.It breaks the sources and uses of cash into the following categories: Ittelson, Thomas R., Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports This easy-to-understand book teaches financial statements from the ground up. as a hypothetical start-up company, the book illustrates the reporting of typical business transactions and the preparation of the financial statements.It is important that a company works closely with its auditor when evaluating how to recognise and disclose a material error.In most cases it is also the auditor that determines what is considered material.

dating reissued financial statements-33

From the standpoint of anthropology and sociology, dating is linked with other institutions such as marriage and the family which have also been changing rapidly and which have been subject to many forces, including advances in technology and medicine.

Keywords: Thailand, Audit, Revenue Department, Financial Statements, Financial Reporting Standards, Ministry of Commerce, Tax Under both international and Thai financial reporting standards, material errors must be corrected retrospectively, i.e. However, it is not simple to define what would be considered as material.

A good starting point would be that an error in the financial statements that impacts the decisions made by the users of those financial statements would be considered material.

An explanation for the restatement is disclosed in the notes to the financial statements.

Impact and risks The restatement of prior year(s) may result in a need to file a revised corporate income tax return.