Financial statement disclosures can be broken down into the following categories:

  • Primary financial statements
  • Nature of operations
  • Basis of reporting
  • Significant accounting policies
  • Financial statement accounts
  • Broad transaction categories

Primary financial statements

Disclosure name Disclosure description Disclosure type
Balance sheet Reports assets and liabilities and equity as of a point in time. Also called statement of financial position. Roll up of assets. Roll up of liabilities and equity
Income statement Reports net income for a period of time. Also called statement of earnings Roll up of net income (loss)
Cash flow statement Reports cash flow for a period of time. Also called statement of cash flow Roll up of net cash flow
Changes in equity Reports changes in the line items of equity. Also called statement of changes in equity Roll forward of each equity account