Page 35 - Finac1 Test 1 slides
P. 35
PRESENTATION OF FINANCIAL STATEMENTS
Overview
• International Accounting Standard 1 (IAS 1) covers the
presentation of financial statements.
• This includes the layout of general-purpose financial
statements and the considerations to be taken into account
when preparing the content of these financial statements.
• The objective of IAS 1 is to prescribe the basis of
presentation of general-purpose financial statements in
order to ensure comparability both in terms of the entity's
own financial statements from one financial period to
another, and with regard to the financial statements of
other entities.
35
