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Presentation of Financial Statements (IAS 1)

Last updated: 14 November 2023

IAS 1 serves as the main standard that outlines the general requirements for presenting financial statements. It is applicable to ‘general purpose financial statements’, which are designed to meet the informational needs of users who cannot demand customised reports from an entity. Documents like management commentary or sustainability reports, which are often included in annual reports, fall outside the scope of IFRS, as indicated in IAS 1.13-14. Similarly, financial statements submitted to a court registry are not considered general purpose financial statements (see IAS 1.BC11-13).

The standard primarily focuses on annual financial statements, but its guidelines in IAS 1.15-35 also extend to interim financial reports (IAS 1.4). These guidelines address key elements such as fair presentation, compliance with IFRS, the going concern principle, the accrual basis of accounting, offsetting, materiality, and aggregation. For comprehensive guidance on interim reporting, please refer to IAS 34 .

Note that IAS 1 will be superseded by the upcoming IFRS 18 Presentation and Disclosure in Financial Statements .

Now, let’s explore the general requirements for presenting financial statements in greater detail.

Financial statements

Components of a complete set of financial statements.

Paragraph IAS 1.10 outlines the elements that make up a complete set of financial statements. Companies have the flexibility to use different titles for these documents, but each statement must be presented with equal prominence (IAS 1.11). The terminology used in IAS 1 is tailored for profit-oriented entities. However, not-for-profit organisations or entities without equity (as defined in IAS 32), may use alternative terminology for specific items in their financial statements (IAS 1.5-6).

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Compliance with IFRS

Financial statements must include an explicit and unreserved statement of compliance with IFRS in the accompanying notes. This statement is only valid if the entity adheres to all the requirements of every IFRS standard (IAS 1.16). In many jurisdictions, such as the European Union, laws mandate compliance with a locally adopted version of IFRS.

IAS 1 does consider extremely rare situations where an entity might diverge from a specific IFRS requirement. Such a departure is permissible only if it prevents the presentation of misleading information that would conflict with the objectives of general-purpose financial reporting (IAS 1.20-22). Alternatively, entities can disclose the impact of such a departure in the notes, explaining how the statements would appear if the exception were made (IAS 1.23).

Identification of financial statements

The guidelines for identifying financial statements outlined in IAS 1.49-53 are straightforward and rarely cause issues in practice.

Going concern

The ‘going concern’ principle is a cornerstone of IFRS and other major GAAP. It assumes that an entity will continue to operate for the foreseeable future (at least 12 months). IAS 1 mandates management to assess whether the entity is a ‘going concern’. Should there be any material uncertainties regarding the entity’s future, these must be disclosed (IAS 1.25-26). IFRSs do not provide specific accounting principles for entities that are not going concerns, other than requiring disclosure of the accounting policies used. One of the possible approaches is to measure all assets and liabilities using their liquidation value.

See also this educational material at IFRS.org.

Materiality and aggregation

IAS 1.29-31 emphasise the importance of materiality in preparing user-friendly financial statements. While IFRS mandates numerous disclosures, entities should only include information that is material. This concept should be at the forefront when preparing financial statements, as reminders about materiality are seldom provided in other IFRS standards or publications.

Generally, entities should not offset assets against liabilities or income against expenses unless a specific IFRS standard allows or requires it. IAS 1.32-35 offer guidance on what can and cannot be offset. Offsetting of financial instruments is discussed further in IAS 32 .

Frequency of reporting

Entities are required to present a complete set of financial statements at least annually (IAS 1.36). However, some Public Interest Entities (PIEs) may be obliged to release financial statements more frequently, depending on local regulations. However, these are typically interim financial statements compiled under IAS 34 .

IAS 1 also allows for a 52-week reporting period instead of a calendar year (IAS 1.37). This excerpt from Tesco’s annual report serves to demonstrate this point, showing that the group uses 52-week periods for their financial year, even when some subsidiaries operate on a calendar-year basis:

Disclosure on 52-week financial year provided by Tesco plc

If an entity changes its reporting period, it must clearly disclose this modification and provide the rationale for the change (IAS 1.36). It is advisable to include an explanatory note with comparative data that aligns with the new reporting period for clarity.

Comparative information

As a general guideline, entities should present comparative data for the prior period alongside all amounts reported for the current period, even when specific guidelines in a given IFRS do not require it. However, there’s no obligation to include narrative or descriptive information about the preceding period if it isn’t pertinent for understanding the current period (IAS 1.38).

If an entity opts to provide comparative data for more than the immediately preceding period, this additional information can be included in selected primary financial statements only. However, these additional comparative periods should also be detailed in the relevant accompanying notes (IAS 1.38C-38D).

IAS 1.40A-46 outlines how to present the statement of financial position when there are changes in accounting policies, retrospective restatements, or reclassifications. This entails producing a ‘third balance sheet’ at the start of the preceding period (which may differ from the earliest comparative period, if more than one is presented). Key points to note are:

  • The third balance sheet is required only if there’s a material impact on the opening balance of the preceding period (IAS 1.40A(b)).
  • If a third balance sheet is included, there’s no requirement to add a corresponding third column in the notes, although this could be useful where numbers have been altered by the change (IAS 1.40C).
  • Interim financial statements do not require a third balance sheet (IAS 1.BC33).

IAS 8 also requires comprehensive disclosures concerning changes in accounting policies and corrections of errors .

Statement of financial position

IAS 1.54 enumerates the line items that must, at a minimum, appear in the statement of financial position. Entities should note that separate lines are not required for immaterial items (IAS 1.31). Additional line items can be added for entity-specific or industry-specific matters. IAS 1 permits the inclusion of subtotals, provided the criteria set out in IAS 1.55A are met.

Additional disclosure requirements are set out in IAS 1.77-80A. Of particular interest are the requirements pertaining to equity (IAS 1.79), which begin with the number of shares and extend to include details such as ‘rights, preferences, and restrictions relating to share capital, including restrictions on the distribution of dividends and the repayment of capital.’ While these kinds of limitations are common across various legal jurisdictions (for example, not all retained earnings can be distributed as dividends), many companies neglect to disclose such limitations in their financial statements.

For guidance on classifying assets and liabilities as either current or non-current, please refer to the separate page dedicated to this topic.

Statement of profit or loss and other comprehensive income

IAS 1 provides two methods for presenting profit or loss (P/L) and other comprehensive income (OCI). Entities can either combine both P/L and OCI into a single statement or present them in separate statements (IAS 1.81A-B). Additionally, the P/L and total comprehensive income for a given period should be allocated between the owners of the parent company and non-controlling interests (IAS 1.81B).

Minimum contents in P/L and OCI

IAS 1.82-82A specifies the minimum items that must appear in the P/L and OCI statements. These items are required only if they materially impact the financial statements (IAS 1.31).

Entities are permitted to add subtotals to the P/L statement if they meet the criteria specified in IAS 1.85A. Operating income is often the most commonly used subtotal in P/L. This practice may be attributed to the 1997 version of IAS 1, which mandated the inclusion of this subtotal—although this is no longer the case. IAS 1.BC56 clarifies that an operating profit subtotal should not exclude items commonly considered operational, such as inventory write-downs, restructuring costs, or depreciation/amortisation expenses.

Profit or loss (P/L)

All items of income and expense must be recognised in P/L (or OCI). This means that no income or expenses should be recognised directly in the statement of changes in equity, unless another IFRS specifically mandates it (IAS 1.88). Direct recognition in equity may also result from intra-group transactions . IAS 1.97-98 require separate disclosure of material items of income and expense, either directly in the income statement or in the notes.

Expenses in P/L can be presented in one of two ways (IAS 1.99-105):

  • By their nature (e.g., depreciation, employee benefits); or
  • By their function within the entity (e.g., cost of sales, distribution costs, administrative expenses).

When opting for the latter, entities must provide additional details on the nature of the expenses in the accompanying notes (IAS 1.104).

Other comprehensive income (OCI)

OCI encompasses income and expenses that other IFRS specifically exclude from P/L. There is no conceptual basis for deciding which items should appear in OCI rather than in P/L. Most companies present P/L and OCI as separate statements, partly because OCI is generally overlooked by investors and those outside of accounting and financial reporting circles. The concern is that combining the two could reduce net profit to merely a subtotal within total comprehensive income.

All elements that constitute OCI are specifically outlined in IAS 1.7, as part of its definitions.

Reclassification adjustments

A reclassification adjustment refers to the amount reclassified to P/L in the current period that was recognised in OCI in the current or previous periods (IAS 1.7). All items in OCI must be grouped into one of two categories: those that will or will not be subsequently reclassified to P/L (IAS 1.82A). Reclassification adjustments must be disclosed either within the OCI statement or in the accompanying notes (IAS 1.92-96).

To illustrate, foreign exchange differences arising on translation of foreign operations and gains or losses from certain cash flow hedges are examples of items that will be reclassified to P/L. In contrast, remeasurement gains and losses on defined benefit employee plans or revaluation gains on properties will not be reclassified to P/L.

The practice of transferring items from OCI to P/L, commonly known as ‘recycling’, lacks a concrete conceptual basis and the criteria for allowing such transfers in IFRS are often considered arbitrary.

Tax effects

OCI items can be presented either net of tax effects or before tax, with the overall tax impact disclosed separately. In either case, entities must specify the tax amount related to each item in OCI, including any reclassification adjustments (IAS 1.90-91). Interestingly, there is no such requirement to disclose tax effects for individual items in the income statement.

Statement of changes in equity

IAS 1.106 outlines the minimum line items that must be included in the statement of changes in equity. Subsequent paragraphs specify the disclosure requirements, which can be addressed either within the statement itself or in the accompanying notes. It’s crucial to note that changes in equity during a reporting period can arise either from income and expense items or from transactions involving owners acting in their capacity as owners (IAS 1.109). This means that entities cannot adjust equity directly based on changes in assets or liabilities unless these adjustments result from transactions with owners, such as capital contributions or dividend payments, or are otherwise mandated by other IFRSs.

Statement of cash flows

The statement of cash flows is governed by IAS 7 .

  • Explanatory notes

Structure of explanatory notes

The structure for explanatory notes is detailed in IAS 1.112-116. In practice, there are several commonly adopted approaches to organising these notes:

Approach #1:

  • Primary financial statements (P/L, OCI, etc.)
  • Statement of compliance and basis of preparation
  • Accounting policies

Approach #1 is logically coherent, as understanding accounting policies is crucial before delving into the financial data. However, in reality, few people read the accounting policies in their entirety. Consequently, users often have to navigate past several pages of accounting policies to reach the explanatory notes.

Approach #2:

  • Primary financial statements (P/L, OCI, etc)

In Approach #2, accounting policies are treated as an appendix and positioned at the end of the financial statements. The advantage here is that all numerical data is clustered together, uninterrupted by extensive descriptions of accounting policies.

Approach #3:

  • Explanatory notes integrated with relevant accounting policies

Approach #3 pairs accounting policies directly with the associated explanatory notes. For example, accounting policies relating to inventory would appear alongside the explanatory note that breaks down inventory components.

Management of capital

IAS 1.134-136 outline the disclosures related to capital management. These provisions apply to all entities, whether or not they are subject to external capital requirements. An important note here is that entities are not obligated to disclose specific values or ratios concerning capital objectives or requirements.

IAS 1.137 mandates disclosure of dividends proposed or declared before the financial statements were authorised for issue but not recognised as a distribution to owners during the period. Furthermore, entities are required to disclose the amount of any cumulative preference dividends not recognised.

Disclosure of accounting policies

IAS 1 specifies the requirements for disclosing accounting policy information which are discussed here .

Disclosing judgements and sources of estimation uncertainty

IAS 1 mandates disclosing judgements and sources of estimation uncertainty .

Other disclosures

Additional miscellaneous disclosure requirements are detailed in paragraphs IAS 1.138.

IFRS 18 Presentation and Disclosure in Financial Statements

The upcoming IFRS 18 Presentation and Disclosure in Financial Statements , which will supersede IAS 1, aims to enhance the comparability and transparency of financial reporting, focusing on the statement of profit or loss. Key changes include:

  • The introduction of two new subtotals in the P/L statement: ‘operating profit’ and ‘profit before financing and income taxes’.
  • A requirement for the reconciliation of management-defined performance measures (also known as ‘non-GAAP’ measures) with those specified by IFRS.
  • Refined guidelines for the aggregation and disaggregation of information within the primary financial statements.
  • Limited changes to the statement of cash flows, establishing operating profit as a starting point for the indirect method and eliminating options for the classification of interest and dividend cash flows.

Learn more in this BDO’s publication .

The release of IFRS 18 is expected in Q2 2024. This new IFRS will be effective from 1 January 2027 with early application permitted.

© 2018-2024 Marek Muc

The information provided on this website is for general information and educational purposes only and should not be used as a substitute for professional advice. Use at your own risk. Excerpts from IFRS Standards come from the Official Journal of the European Union (© European Union, https://eur-lex.europa.eu). You can access full versions of IFRS Standards at shop.ifrs.org. IFRScommunity.com is an independent website and it is not affiliated with, endorsed by, or in any other way associated with the IFRS Foundation. For official information concerning IFRS Standards, visit IFRS.org.

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IAS 1 - Presentation of Financial Statements (detailed review)

This standard prescribes the guide lines to be used by the entity, in the presentation of general purpose financial statements, to make sure that financial statement of the entity are comparable both with its previous periods financial statement and with the financial statements of the other entity. For this purpose, it provides overall requirements for the structure and contents of financial statements along with some general features.

The requirements of this standard are applicable to all the general purpose financial statements (individual and consolidated both) which are prepared and presented in accordance' with 'International Financial .Reporting Standards (IFRSs).

However, this standard is not applicable to the structure and contents of statement of cash flows and interim financial statements.

General Purpose Financial Statements

These are financial statements which are prepared and presented to satisfy the information needs of the general users, who are not able to require the reporting entity to prepare accounting reports according to their particular information needs.

Complete Set of Financial Statements

The complete set of financial statements entails the following:

  • Statement of profit or loss and other comprehensive income
  • Statement of financial position
  • Statement of changes in equity
  • Statement of cash flows
  • Notes to accounts
  • Comparative year information
  • Opening Statement of financial position in respect of retrospective application or restatement of a change in accounting policy or error, or when entity first adopts the IFRSs 

International Financial Reporting Standards (IFRSs)

These are accounting standards and related Interpretations, which are issued and regulated by the International Accounting Standards Board (IASB) and these encompasses:

  • International Financial Reporting Standards (IFRS)
  • International Accounting Standards (IAS)
  • Interpretations issued by IFRIC and
  • Interpretations issued by SIC

Impracticable

It is when the entity is not able to apply the requirement of a particular standard, after any reasonable effort to do so.

These are one of the essential component of financial statements and include the information (financial and non-financial) in addition to the information which is  presented in the other components of financial statements such as statement of profit or loss and other comprehensive income, statement of changes in equity, statement of financial' position and statement of cash flows. These are in the form of narrative descriptions

Other comprehensive income

It entails the incomes and expenses which are not permitted to be recognized in profit or loss as per the requirements of the other standards. It also includes the reclassification, adjustments

Reclassification Adjustments

It is the reclassification of certain amounts to profit or loss during the current accounting period, which were previously recognized in statement of other comprehensive income

Total comprehensive income

It is the increase or decrease in the equity in the current accounting period resulting due to the events and transactions, which are other than the transactions with shareholders in their capacity as owners.

General Features

Fair Presentation

This standard requires that the financial. Performance, financial position and cash flows of an entity should be fairly presented. Fair presentation of financial statements, the events and transactions should be reported to financial statements in accordance with the recognition and measurement principle for the elements of financial statements, given in the IASB’s framework, and financial statements should be prepared in accordance with IFRS with related disclosure requirements.

To achieve the fair presentation the entity should make sure the following:

  • The selection and application of accounting policies as per IAS8
  • The information contained in financial statements should have all the qualitative characteristics of financial statements 
  • Complete disclosure should be given as per the IFRS

Un-reserved Stat e ment

The entity which prepares financial statements in compliance with all the lFRSs, should place an un-reserved statement in the notes to accounts, in respect of such compliance with IFRSs. This is termed as un-reserved statement. However, the entity cannot make such a statement unless the financial statements are in compliance with all the requirements of IFRSs.

D i sagreement with IFRS s

If in very rare situations, the management identifies that compliance with a particular requirement of a specific standard or Interpretation will result in the information, which is in conflict with the objectives of financial statements as laid down in the Framework, the entity will account for such situation as follows:

a) If the regulatory frame work permits departure from such requirement, the entity will take departure from that requirement and will disclose the following:

  • The financial statements fairly present the financial performance, financial position and cash flows of the entity, as per the judgment of management
  • The financial statements of the entity are in compliance with all the relevant IFRS’s other than the departure from the particular requirement
  • The title of the standard from which departure is taken, the details of departure and related reason for the departure
  • The financial effect on financial statements due to such departure

b) If the regulatory frame work does not permit departure from such requirement, the entity will reduce the related impact of such compliance by giving following disclosures:

  • The adjustment which is required as per the judgment of the management to achieve fair presentation

Going Concern

At the end of each reporting period, when entity will prepare its financial statements, the management is required to assess of whether the entity has ability to continue its business as a going concern. If management identifies that it has ability to continue its business as a going concern then its financial statement will be prepared on a going concern basis.

The entity will be treated as going concern, if it can continue its operations for the foreseeable future such that neither the management has intention nor the circumstances are there that the entity will have to curtail its business activities

Accrual Basis of Accounting

The entity is required to report all the events and transactions in the financial statements in the period to which these relate except for the cash flows

Consistency of Presentation

The entity should use the same accounting policies in the preparation and presentation of financial statements for the similar events and transactions, from one period to the next in order to ensure the comparability of financial statements unless the change is required by the circumstance laid down in IAS 8

Materiality and Aggregation

The entity is required to present each material class of items separately in the financial statements, unless these are immaterial.

The entity should not offset any assets and liabilities or any income and expense, except it is required by a IFRS

Frequency of Reporting

An entity shall present a complete set of financial statements (including comparative information) at least annually. When an entity changes the end of its reporting period and presents financial statements for a period longer or shorter than one year an entity shall disclose, in addition to the period covered by the financial statements (a) The reason for using a longer or shorter period, and (b) The fact that amounts presented in the financial statements are not entirely comparable.  

Comparative Information

This standard requires an entity to disclose the comparative information in respect of the previous accounting period similar to those amounts which are presented in the financial statements of the current accounting period

Identification of Financial Statements

The financial statements of the entity should be identified and distinguished from the other information using the following:

  • The title of the entity presenting financial statements
  • Whether these are the financial statements of an individual entity or consolidated financial statements for the group of entities:
  • The reporting date for which financial statements are presented
  • The presentation currency for the amounts reported in financial statements
  • The level of rounding up for the amounts reported in financial statements

Contents of Financial Statements

Statement of Financial Position

The assets of the entity will be presented into current and non-current assets as per the definition on the face of statement of financial position, unless the presentation on the basis of liquidity is more appropriate

Current assets

The entity will present an asset as current asset, if it meets any of the following criteria:

  • It is held for trading in the normal course of business
  • It will be realized within a period of 12 months from the reporting date
  • It is expected to be sold or consumed in the normal course of business
  • It is cash or cash equivalent as defined in IAS 7

The entity will present all other assets as non-current assets.

Liabilities

The liabilities of the entity will be presented into current and non-current liabilities as per the definition on the face of statement of financial position as follows:

Current Liabilities

The entity will present a liability as current liability, if It relates to the normal course of the business and will be paid within 12 months from the reporting date

The entity will present all other liabilities as non-current liabilities

Statement of Profit or Loss and other comprehensive income

The entity the all items of incomes and expenses relating to the current accounting period in the form of either:

  • A single statement of profit or loss and other comprehensive income or
  • Two separate statements, one is the statement of profit or loss and another statement of other comprehensive income

Statement of profit or loss

The entity will present the following Information in the statement of profit or loss at minimum:

  • Entity’s Revenue for the current accounting period
  • Interest costs
  • Entity’s share of the profit or loss from associates or joint ventures
  • Any reclassification adjustment recognized during the current accounting period
  • Net profit or loss for the current accounting period

Other comprehensive Income

The entity will present the line items of statement of comprehensive income into two sections as follows:

a) Items that are not reclassify to profit or loss

b) Items that may be reclassify to profit or loss, when certain conditions will meet

The line items of statement of comprehensive income may be presented either

  • Net of tax or
  • Before tax with the tax effect being presented as a separate line item under the respective section

The entity is required to disclose the allocation of profit or loss and comprehensive Income as follows in addition to the statement of profit or loss and other comprehensive income:

a) Profit or loss for the current accounting period attributable to:

  • Owners of the group
  • Non-controlling interests in the entity

b) Total comprehensive income for the current accounting period attributable to:

  • Non-controlling interests, and

Statement of Changes in Equity

The entity is required to present the following in respect of each component of entity, in the statement of changes in equity:

  • Changes in the elements of equity due to transaction with owners in the current accounting period
  • Changes in the elements of equity due to the total comprehensive income for the year
  • Changes in the components of equity due to the change in accounting policy
  • Changes in the components of the equity due to the requirement of a standard

These contain the information (financial and non-financial) in addition to the information which is  presented in the other components of financial statements such as statement of profit or loss and other comprehensive income, statement of changes in equity, statement of financial' position and statement of cash flows. These are in the form of narrative descriptions and include the following:

  • Basis used by the entity for the preparation of the financial statements
  • Accounting policies of the entity
  • Disclosures required by the standards

Format of Statement of financial position

Format of Statement of profit or loss and other comprehensive income

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IAS 1 Presentation of Financial Statements

Learn the key accounting principles to be applied to financial statements, including fair presentation and compliance with IFRS Standards.

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  1. IAS 1

    Learn about the requirements, structure and content of financial statements according to IAS 1, the international accounting standard. Find out the history, amendments and related interpretations of IAS 1 and its upcoming replacement by IFRS 18.

  2. PDF Presentation of Financial Statements IAS 1

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  3. About the Financial statement presentation guide & Full guide PDF

    Appropriate financial statement presentation and disclosure is key to achieving the objectives of financial reporting, including providing decision-useful information to investors, lenders, creditors, and other stakeholders. This guide has been prepared to support practitioners in the preparation of their financial statements.

  4. IFRS

    In April 2001 the International Accounting Standards Board (IASB) adopted IAS 1 Presentation of Financial Statements, which had originally been issued by the International Accounting Standards Committee in September 1997.IAS 1 Presentation of Financial Statements replaced IAS 1 Disclosure of Accounting Policies (issued in 1975), IAS 5 Information to be Disclosed in Financial Statements ...

  5. Handbook: Financial statement presentation

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  7. IFRS

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  8. PDF The Essentials—Presentation of Financial Statements

    In this Essentials, we highlight two of the principles in IAS 1: 1. Financial statements should fairly present the company's performance; and. 2. Disclosure of immaterial items can obscure material information. We explain how investors can use their knowledge of these fundamental principles of IFRS to have an efective dialogue with management ...

  9. Presentation of Financial Statements (IAS 1)

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  10. PDF Guide to annual financial statements

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  11. PDF Financial Statement Presentation

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  12. IAS 1

    The entity should use the same accounting policies in the preparation and presentation of financial statements for the similar events and transactions, from one period to the next in order to ensure the comparability of financial statements unless the change is required by the circumstance laid down in IAS 8. Materiality and Aggregation.

  13. Presentation Of Financial Statements (IAS 1)

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  15. Presentation of Financial Statements (IAS 1)

    For instance, a balance sheet may now be referred to as a statement of financial position. Furthermore, the revised IAS 1 has also introduced a new statement, the statement of comprehensive income. IAS 1 offers the choice of presenting all items of income and expense recognized in the period: Either in a single statement or in two statements.

  16. IFRS 18

    The objective of IFRS 18 is to set out requirements for the presentation and disclosure of information in general purpose financial statements (financial statements) to help ensure they provide relevant information that faithfully represents an entity's assets, liabilities, equity, income and expenses. [IFRS 18.1] Scope

  17. IFRS

    IAS 1 Presentation of Financial Statements. In order to view our Standards you need to be a registered user of the site. A free 'Basic' registration will give you access to Issued Standards in HTML or PDF. If you're an IFRS Digital subscriber you will get access to the Required Standards, and be able to use the annotation and taxonomy layers ...

  18. 4.1 Presentation of Financial Statements

    Under both IFRS Accounting Standards and U.S. GAAP, a complete set of financial statements consists of the following: a statement of financial position, a statement of profit or loss and OCI, a statement of cash flows, a statement of changes in shareholders' equity, and accompanying notes. The table below shows the key differences between the ...

  19. IASB issues IFRS 18 on financial statements presentation and disclosure

    By: CCH ARM Editorial. The IASB has issued International Financial Reporting Standard (IFRS) 18, Presentation and Disclosure in Financial Statements. With this new standard, the IASB has completed its work to improve the usefulness of information presented and disclosed in financial statements. The IASB believes that IFRS 18 will give investors ...

  20. PDF Ipsas 1—Presentation of Financial Statements

    155 IPSAS 1, "Presentation of Financial Statements" (IPSAS 1) is set out in paragraphs 1−155 and Appendices A−B. All the paragraphs have equal authority. IPSAS 1 should be read in the context of its objective, the Basis for Conclusions, and the "Preface to International Public Sector Accounting Standards.".

  21. PDF ASU 2016-14 Illustrative Financial Statement Example

    The AICPA's Not-for-Profit Expert Panel created this set of illustrative financial statements that shows the implementation of ASU 2016-14. This document provides a non-authoritative example of a possible presentation of a complete set of financial statements for a nongovernmental NFP that is not a health care provider under current GAAP.

  22. PDF Conceptual Framework for Financial Reporting

    consolidated and unconsolidated financial statements 3.15 chapter 4—the elements of financial statements introduction 4.1 definition of an asset 4.3 right 4.6 ... chapter 7—presentation and disclosure. presentation and disclosure as communication tools 7.1 presentation and disclosure objectives and principles 7.4 classification 7.7

  23. PDF Ubisoft Reports Full-year 2023-24 Earnings Figures

    Extracts from the Consolidated Financial Statements at March 31, 2024 The audit procedures have been carried out and the audit report is in preparation. Consolidated income statement (IFRS, extract from the accounts which have undergone an audit by the Statutory Auditors). (in € millions) 03.31.2024 03.31.2023 Sales 2,300.9 1,814.3

  24. Annual Report 2024

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