Summary financial statements
Summary financial statements – Historical financial information that is derived from financial statements but that contains less detail than the financial statements while still providing a structured representation consistent with that provided by the financial statements of the entity’s economic resources or obligations at a point in time or the changes therein for a while. Jurisdictions may use different terminology to describe historical financial information [International Federation of Accountants].
Summary financial statements shall include a summary of each financial statement included in a complete financial report. Summary financial statements shall include a summary of the:
statement of financial position as at the end of the period;
statement of comprehensive income for the period;
statement of changes in equity (or statement of recognized income and expense) for the period;
statement of cash flows for the period [Institute of Chartered Accountants of Trinidad and Tobago].
International Federation of Accountants (IFAC). (2016). International Standard on Auditing. Engagements to Report on Summary Financial Statements. Retrieved from: https://www.ifac.org/system/files/publications/files/IAASB-ISA-810-Revised.pdf