Page 27 - FINAL CFA SLIDES DECEMBER 2018 DAY 7
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Session Unit 6:
23. Financial Reporting Standards
LOS 23.e: Describe general requirements for financial statements under International
Financial Reporting Standards (IFRS). , p.30
International Accounting Standard (IAS) No. 1 defines which financial
statements are required and how they must be presented:
• Balance sheet (statement of financial position).
• Statement of comprehensive income.
• Cash flow statement.
• Statement of changes in owners’ equity.
• Explanatory notes, including a summary of accounting policies.
