Professional Documents
Culture Documents
Financial Accounting Notes
Financial Accounting Notes
Depends on where said company resides, it must follow the local accounting standard. Such
as
International Finance Reporting Standard = If resides in Europe
US GAAP (generally accepted accounting standards)= If said company resides in USA
Indonesian Accounting Standard (including tax) = If said company resides in Indonesia
If anything should happen, any assets should be use to cover or pay the liability first
then the rest would be owned by the share holders
4. QML (profit loss)
Is a statement where we can see the company reenues, expenses in a given period of
time, usually fiscal quarter or year.