General purpose financial statements are those intended to serve users who are not in a position to require financial reports tailored to their particular information needs. IAS 1 applies to all general purpose financial statements that are prepared and presented in accordance with International Financial Reporting Standards (IFRSs). Standards for recognising, measuring, and disclosing specific transactions are addressed in other Standards and Interpretations. IAS 1 sets out the overall requirements for the presentation of financial statements, guidelines for their structure and minimum requirements for their content. The objective of IAS 1 (2007) is to prescribe the basis for presentation of general purpose financial statements, to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities. IAS 1 - Classification of debt with covenants as current or non-current.Disclosure initiative - Accounting policies.SIC-29 Disclosure - Service Concession Arrangements.SIC-27 Evaluating the Substance of Transactions in the Legal Form of a Lease.IFRIC 17 Distributions of Non-cash Assets to Owners.IAS 1 (2003) superseded SIC-18 Consistency - Alternative Methods.IAS 1 Presentation of Financial Statements (2007) issuedĮffective for annual periods beginning on or after 1 January 2009Īmended by Puttable Financial Instruments and Obligations Arising on LiquidationĮffective for annual reporting periods beginning on or after 1 January 2009Īmended by Annual Improvements to IFRSs 2007 (classification of derivatives as current or non-current)Īmended by Improvements to IFRSs 2009 (classification of liabilities as current)Įffective for annual periods beginning on or after 1 January 2010Īmended by Improvements to IFRSs 2010 (clarification of statement of changes in equity)Įffective for annual periods beginning on or after 1 January 2011Įxposure Draft ED/2010/5 Presentation of Items of Other Comprehensive Income publishedĪmended by Presentation of Items of Other Comprehensive IncomeĮffective for annual periods beginning on or after 1 July 2012Īmended by Annual Improvements 2009-2011 Cycle (comparative information)Įffective for annual periods beginning on or after 1 January 2013Īmended by Non-current Liabilities with Covenants (Amendments to IAS 1)Įffective for annual periods beginning on or after 1 January 2024 the effective date of the January 2020 amendments is also pushed to 1 January 2024 IAS 1 Presentation of Financial Statements (2003) issuedĮffective for annual periods beginning on or after 1 January 2005Īmended by Amendment to IAS 1 - Capital DisclosuresĮffective for annual periods beginning on or after 1 January 2007Įxposure Draft Proposed Amendments to IAS 1 – A Revised Presentation publishedĮxposure Draft Financial Instruments Puttable at Fair Value and Obligations Arising on Liquidation published Operative for periods beginning on or after 1 July 1998
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |