Page 17 - Finac1 Test 1 slides - 3. Presentation of Financial Statements
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PRESENTATION OF FINANCIAL STATEMENTS
Structure and content: Notes to the financial
statements (IAS 1 par .112–.138)
• The notes to the annual financial statements
should present information about the basis of
preparation of the financial statements;
• present the specific accounting policies selected and
applied for significant transactions and events;
• disclose information required not presented elsewhere
in the financial statements; and
• provide additional information not presented elsewhere
in the financial statements, but which is relevant to an
understanding of any of them, for example information
about contingent liabilities.
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