U.S. companies are required to include a balance sheet, income statement, and
statement of cash flows in a set of financial statements. In addition, schedules
explaining the changes in retained earnings and accumulated other comprehensive
income must be presented. Many U.S. companies provide this information in
a separate statement of stockholders’ equity.
Virtually all companies worldwide provide a balance sheet and an income
statement in a set of financial statements. Although not universal, most countries
now also require presentation of a statement of cash flows. Mexico, for example,
implemented such a requirement in 2008. In addition to a balance sheet, income
statement, and statement of cash flows, the Austrian firm Strabag SE includes a
statement of changes in fixed assets as one of its primary financial statements.
This statement provides detail on the change during the year in the historical cost
of noncurrent intangible assets, tangible assets, and investment property. A statement
of changes in noncurrent assets often also is found in financial statements
prepared by German companies.