Page 16 - Finac1 Test 1 slides - 3. Presentation of Financial Statements

PRESENTATION OF FINANCIAL STATEMENTS

Structure and content: Statement of changes in

equity (IAS 1 par .106–.110)

• A statement of changes in equity forms part of the financial

statements. What is essentially required is a reconciliation

of equity at the beginning of the financial year with equity

at the end of the financial year.

• The statement should include the following:

• total comprehensive income for the period, showing separately
the total amounts attributable to owners of the parent and non-

controlling interest;

• the effects of retrospective application or retrospective
restatement recognised in accordance with IAS 8 for each
component of equity; and

• for each component of equity, a reconciliation between the

carrying amount at the beginning and the end of the period.

• Dividends paid for the period and related dividend per

share can be disclosed either in the statement of changes
in equity or in the notes.

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