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Source: NZ Conceptual Framework 2018
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Shows the performance of
entity over specified period
• lists out categories of income and
expenses
• profit or surplus represents excess
of income over expenses

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Shows the position of
entity at point in time
• lists out categories of assets
(resources) and liabilities
• excess of assets over liabilities
represents residual interest of
owner(s)
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Shows the changes in
equity over specified period
• links income statement and
balance sheet
• reconciles starting equity and
ending equity

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Shows cash inflows & outflows
of entity over specified period
• lists out sources and uses of cash
• net cash represents excess of inflows
over outflows

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