Abridged accounts are a simplified form of annual accounts allowed under the EU Accounting Directive (2014) for entities qualifying as small companies. These accounts exclude certain detailed financial information from both the balance sheet and profit and loss statement, provided this exclusion is unanimously agreed upon by shareholders.
All-purpose financial statements, also referred to as general purpose financial statements, are prepared with the objective of providing financial information that is useful to a wide range of users in making economic decisions.
The increasing amount of financial information that companies are required to provide, some of which is beyond the user's ability to assimilate, analyze, and interpret.
Published accounts refer to the financial statements of organizations made available to the public in accordance with legal requirements. In the UK, these often relate to limited companies and include documents provided to shareholders and filed with the Registrar of Companies at Companies House, Cardiff.
