A calendar year reporting company preparing its annual financial statements should use the phrase "at december 31, 2016" in the heading of which financial statements?

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Business

Camryn Fernandez

11 June, 13:45

A calendar year reporting company preparing its annual financial statements should use the phrase "at december 31, 2016" in the heading of which financial statements?

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Owen Carroll · Answer 1

Financial statements include Income statement, Statement of Owner's Equity, Balance sheet and Cash flow statement. Statement of Owner's Equity and Balance sheet are prepared at a particular date at the end of the financial year or period.

Hence, A calendar year reporting company preparing its annual financial statements should use the phrase "at December 31, 2016" in the heading of Statement of Owner's Equity and Balance sheet.