Pearson King
02/11/2023 · Elementary School
1.2 Mention five financial statements that must be presented at the end of the financial year as per IAS1.8 ( \( 5 \mathbf{~ m} \) arks) 1.3 Provide four wavs in which a new nartner can be admitted int a nartmorchin
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### 1.2 Five Financial Statements as per IAS 1.8
1. Statement of Financial Position (Balance Sheet)
2. Statement of Profit or Loss (Income Statement)
3. Statement of Comprehensive Income
4. Statement of Changes in Equity
5. Statement of Cash Flows
### 1.3 Four Ways a New Partner Can Be Admitted into a Partnership
1. Purchase of an existing partner's interest
2. Capital contribution
3. Formation of a new partnership
4. Amendment of the partnership agreement
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