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.
(C) Any other substantial non-tax purpose; or. (iii) A financial statement (other than a tax return) required to be provided to the federal or. a state government or any federal or state agency (other than the SEC or the IRS). An AFS can be prepared based on IFRS as long as it meets the definition of one of the. financial statements described in (i) â (iii), above.