3.4 Financial documents

The purpose of statements of comprehensive income:

• main features – sales, cost of sales, gross profit, expenses, operating profit
• the use of statements of comprehensive income in decision making (learners will not be required to construct an income statement)
• the nature of profit and its importance.

The purpose of statements of financial position:

• main features – current and non-current assets, current and non-current liabilities, capital employed
• interpret a statement of financial position (learners will not be required to construct a statement of financial position).