Home Reading "Latvian Legislative Base on Accountning & Financial Analysis Techniques"

The Law on the Annual Account
The annual report:
financial statements
a management report
Financial statements:
a balance sheet
a profit or loss statement
a cash flow statement,
a statement of changes in equity, with explanatory notes as necessary

The Main Policies of The Annual Report :
1) Going-concern assumption — the company will continue as a going concern;
2) Consistent use of the same valuation methods from year to year;
3) Items shall be valued in accordance with the principles of prudence.
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