-    Revenue is the benefit obtained by an industrial asset delivery of activity from the organization and susceptible to monetary quantification. -      The statement of changes in equity includes for each component of equity, a reconciliation between the carrying amount at the beginning and the end of the period. -    The balance sheet reports on company’s financial position at a point in time, assets, liabilities and equity are the elements of the balance sheet. -    A statement of profit or loss as at the end of the period. -    The income statement reports on a company’s performance over a period of time (between two balance sheet dates), presenting the income, expenses and the difference between them. -    Liabilities are present obligation of entity to transfer an economic resource as a result of past events. -      Assets are present economic resources controlled by the entity ...