1

Pieseniaiion of Financial Siaiemenis

SLrucLure of Lhe sLandard
Based on ile IASC Fiamewoil
Objeciive and scope
Componenis of Financial Siaiemenis
Oveiall consideiaiions
Siiuciuie and conieni
Effeciive daie
Level 1+2 Level 1+2 22
IAS 1
Cb[ecLlve and scope
Objeciive
io piesciibe basis foi pieseniaiion of financial siaiemenis
in oidei io ensuie compaiabiliiy
Scope
all geneial puipose financial siaiemenis piepaied undei
IAS
noi condensed inieiim financial infoimaiion
Level 1+2 Level 1+2 33
IAS 1
ComponenLs, compleLe seL of
flnanclal sLaLemenLs
Siaiemeni of Financial Posiiion (Balance sleei)
Siaiemeni of Compielensive Income (Income
siaiemeni)
Siaiemeni of Recognised Income and Expense
(Siaiemeni of clanges in equiiy)
Siaiemeni of Casl Flows (Casl flow siaiemeni)
Noies -Accouniing policies 8Explanaioiy info
Compavativcs Ivom cav!icst pcviod whcvc
cntity vctvospcctivc!y app!ics an accounting
po!icy (ioo8)
Level 1+2 Level 1+2 ++
IAS 1
Cverall conslderaLlons
Faii pieseniaiion
aclieved iliougl applicaiion of IFRS
disclose compliance wiil IFRS - explicii siaiemeni
full compliance wiil IFRS iequiied
applicaiion befoie effeciive daie
disclose ilai faci
iiue and faii oveiiide
only in exiiemely iaie ciicumsiances
Level 1+2 Level 1+2 55
IAS 1
Cverall conslderaLlons
Faii pieseniaiion - iiue and faii oveiiide
wleie compliance wiil a Siandaid would be misleading
depaiiuie is peimissible
bui, ciicumsiances exiiemely iaie
laige amouni of disclosuie iequiied
Level 1+2 Level 1+2 66
IAS 1
2
Cverall conslderaLlons
Accouniing policies
comply wiil all IFRSs and SICs
consisiency - alieinaiive meilods (SIC iS)
Going concein
no inieniion io liquidaie oi io cease iiading
Acciual basis - iiansaciions and evenis
aie iecognised wlen iley occui, and
in ile peiiods io wlicl iley ielaie
coniinued...
Level 1+2 Level 1+2 77
IAS 1
Cverall conslderaLlons
Consisiency
pieseniaiion 8 classificaiion be ieiained
Maieiialiiy 8 aggiegaiion
maieiial pieseni sepaiaiely
immaieiial aggiegaie wiil oilei iiems
Offseiiing
Compaiaiive infoimaiion
incl. naiiaiive 8 desciipiive infoimaiion
Level 1+2 Level 1+2 88
IAS 1
ConslsLency
If moie ilan one accouniing policy is available undei an
IFRS oi a Amendmeni
cloose 8 apply consisienily one policy
if caiegoiisaiion is iequiied oi peimiiied
seleci mosi appiopiiaie policy pei caiegoiy
subsequeni clanges IAS S.(: applies
Level 1+2 Level 1+2 99
IAS 1
SLrucLure and conLenL
Geneial
ideniificaiion of financial siaiemenis
cleaily disiinguisled fiom oilei infoimaiion
iepoiiing peiiod
ai leasi annually
iimeliness
wiilin 6 monils of ile balance sleei daie
Level 1+2 Level 1+2 10 10
IAS 1
SLrucLure and conLenL
Siaiemeni of Financial Posiiion (Balance sleei)
cuiieni vs non-cuiieni disiinciion
oi, classify based on liquidiiy
obligaioiy line iiems on face of B]S
disclosuie iequiied on face oi in noies
ielevani sub-classificaiions of iiems above
infoimaiion on slaie capiial
Level 1+2 Level 1+2 11 11
IAS 1
SLrucLure and conLenL
Cuiieni vs non-cuiieni
based on ile naiuie of opeiaiions
concepi of 'opeiaiing cycle'
cuiieni asseis 8 liabiliiies - iealised]seiiled
in ile noimal couise of opeiaiing cycle
wiilin i: monil of ile balance sleei daie
foi casl oi a casl equivaleni: asseis wlicl aie noi iesiiicied in
use
Level 2 Level 2 12 12
IAS 1
3
SLrucLure and conLenL
Income siaiemeni
obligaioiy line iiems on face of I]S
expenses analysed on basis of
naiuie
funciion
dividends pei slaie io be slown
Level 1+2 Level 1+2 13 13
IAS 1
SLrucLure and conLenL
Income Siaiemeni pieseniaiion
classificaiion based on naiuie
salaiies, depieciaiion, iianspoii, eic
classificaiion based on funciion
cosi of sales, disiiibuiion, adminisiiaiion
Level 2 Level 2 1+ 1+
IAS 1
SLrucLure and conLenL
Siaiemeni of clanges in equiiy
sepaiaie componeni of financial siaiemenis
gains and losses noi ieflecied in income siaiemeni
also in siaiemeni oi in ile noies
capiial iiansaciions wiil owneis
movemenis in accumulaied piofii
movemenis in capiial and ieseives
Level 1+2 Level 1+2 15 15
IAS 1
SLrucLure and conLenL
Role of siaiemeni of clanges in equiiy
bioadei peifoimance indicaioi
'ioial iecognised gains and losses' oi
'compielensive income'
poieniial fuiilei clanges
Level 2 Level 2 16 16
IAS 1
SLrucLure and conLenL
Noies io ile financial siaiemenis
basis of piepaiaiion of financial siaiemenis
accouniing policies selecied
addiiional disclosuie io pieseni faiily
oilei sundiy disclosuies
e.g. domicile, legal foim, couniiy of incoipoiaiion
Level 1+2 Level 1+2 17 17
IAS 1
Changes slnce CnAS
Tiue and faii oveiiide piolibiied wleie naiional
laws do noi peimii ii
Cuiieni oi non-cuiieni classificaiion
posi-balance sleei evenis (iefinancing, coiieciion of
defaulis) do noi affeci cuiieni vs. non-cuiieni
classificaiion
Clanges in equiiy sepaiaied b]w owneis and
id
paiiies. Non ownei clanges in equiiy noi peimiiied.
Disclose ley assumpiions and judgemenis by
managemeni in applying accouniing policies
Level 2 Level 2 18 18
IAS 1
New New
4
Changes slnce CnAS
(conL)
Income and expenses io be piesenied in i oi :
siaiemenis sepaiaie fiom ownei clanges in equiiy:
Siaiemeni of compielensive income(one)
Income siaiemeni + siaiemeni of Compielensive
income (iwo)
Toial compielensive income included in Financial
siaiemenis
Level 2 Level 2 19 19
IAS 1
New New