Financial Statements

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A complete set of financial statements comprises:

• a statement of financial position as at the end of the period;
• a statement of profit and loss
• a Other Comprehensive Income for the period. Other comprehensive income is those items of income and expense that are not recognised in profit or loss in accordance with IFRS Standards. 
• a statement of changes in equity for the period;
• a statement of cash flows for the period;
• notes, comprising a summary of significant accounting policies and other explanatory information; and
• a statement of financial position as at the beginning of the preceding comparative period when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements.

Whereas, a Single set of statement consists of all the above except that the entity presents a single combined statement of profit and loss and other comprehensive income.