There are two types of body waves: P-waves and S waves. 1  P - waves - are Primary waves. They travel with a velocity that depends on the elastic properties of the rock through which they travel. 2  S-Waves - Secondary waves, also called shear waves.
GAAP requires the following four financial statements: 1  Balance Sheet - statement of financial position at a given point in time. 2  Income Statement - revenues minus expenses for a given time period ending at a specified date. 3  Statement of Owner's Equity - also known as Statement of Retained Earnings or Equity Statement.
Therequirementsinparagraphs.19â.21aredesignedtoavoidmisunderstand-. ingsaboutcompliancewiththegeneralpurposeframework. .A4 Financial statements prepared in accordance with a cash basis,tax. basis, or an other basis of accounting may be the only financial statements. an entity prepares. Such special purpose financial statements may be used. byusersotherthanthoseforwhomthefinancialreportingframeworkisde-.