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
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