Corporate or Institutional Financial Report
At the end of each business, each company or institution prepares financial reports which are then reported to the parties concerned. Here are some definitions of financial statements that the author quotes from several sources:
Understanding Financial Statements According to Experts
1. Definition of Financial Statements According to Cashmere (2013: 7)
Understanding financial statements according to Kasmir (2013: 7) simply where the definition of financial statements is a report that shows the company's current financial condition or future periods. The purpose and objectives of financial statements indicate the company's financial condition.
2. Definition of Financial Statements According to Munawir (2010: 5)
According to Munawir (2010: 5) that the definition of financial statements consists of a balance sheet and an income statement as well as a report on changes in equity. The balance sheet shows or illustrates the amount of an asset, a liability and also about the equity of a company on a certain date.
3. Definition of Financial Statements According to the Accountants Association (2009: 1)
According to the Indonesian Institute of Accountants, the definition of financial statements consists of the process of financial statements in general consisting of balance sheets, income statements, statements of changes in equity, statements of financial position, notes and other reports as well as material for explanations that are an integral part of financial statements.
4. Definition of Financial Statements According to Harahap (2009: 105)
According to Harahap (2009: 105) that the definition of financial statements is a description of the financial condition and results of operations of a company when certain or a certain period.
5. Definition of Financial Statements According to Gitman (2012: 44)
According to Gitman that the definition of Financial Statements is explained simply where according to Gitman, the definition of financial statements is "Annual reports that publicly owned corporations must provide to stockholders; it summarizes and documents the firms financial 2 activities during the past year ".
6. Definition of Financial Statements According to Kieso et. All (2011: 5)
According to Kieso et. All (2011: 5) explains that the definition of financial statements is "The financial statements most frequently provided are (1) the statement of financial statements position, (2) the income statement or statement of comprehensive income, (3) the statement of cash flows , and (4) the statement of changes in equity. Note disclosures are an integral part of each financial statement. "
7. Definition of Financial Statements According to Farid and Susanto (2011: 2)
According to Farid and Susanto that what is meant by financial statements, Farid and Susanto gave their ideas on the definition of financial statements in which according to them financial statements are information that is expected to be able to provide assistance to users to make financial decisions that are financial.
8. Definition of Financial Statements According to Birgham and Houston (2010: 84).
According to Birgham and Houston that the definition of financial statements is a number of sheets of paper with numbers written on it, which is important to think about the real assets contained behind these numbers.
9. Definition of Financial Statements according to Subramanyam (2010)
According to Subramanyam that the definition of financial statements is a product of financial reporting processes that are governed by accounting standards and rules, intensive managers, as well as regarding the implementation mechanism and also the supervision of the company.