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Abridged Accounts

Discussion in 'Investing Glossary' started by Glossary, 24th Sep, 2006.

  1. Glossary

    Glossary Active Member

    Joined:
    12th Sep, 2006
    Posts:
    25
    Definition:

    A short version or summary of the financial accounts. For a superannuation fund, the precise format can vary but abridged accounts typically include a short version of the income statement (summarises income and expenses for the period), short version of the balance sheet (summarises the asset and liability position on a particular date) and any relevant notes to the accounts. Legislation defines the financial information that is to be reported to fund members annually.

    See also:
    • Balance Sheet
    • Income Statement

    Sources:
     
    Last edited by a moderator: 24th Sep, 2006