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What do Accounting Summary Statements consist of?

The Accounting Summary Statements should be established in compliance with the accounting law and the General Code of Accounting Standards (CGNC). They can be in two presentation modes:
•    The standard mode which includes 5 statements forms an inseparable whole:

  • o    The Balance Sheet (BL),
  • o    The Income and Expense Account (CPC),
  • o    The Statement of Operating Balances (ESG),
  • o    The Cash Flow Statement (TF),
  • o    The Statement of Additional Information (ETIC).

•    The simplified mode which includes 4 statements also forming an inseparable whole:

  • o    The Balance Sheet (BL),
  • o    The Income and Expense Account (CPC),
  • o    The Cash Flow Statement (TF),
  • o    The Statement of Additional Information (ETIC).
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