IAS 1: Difference between revisions
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International Accounting Standard 1, dealing with presentation of financial statements. | International Accounting Standard 1, dealing with presentation of financial statements. | ||
IAS 1 sets out the overall requirements for financial statements prepared under International Accounting Standards (IAS). | IAS 1 sets out the overall requirements for financial statements prepared under International Accounting Standards (IAS). | ||
| Line 12: | Line 13: | ||
*Statement of changes in equity | *Statement of changes in equity | ||
*Statement of cash flows | *Statement of cash flows | ||
*Notes, comprising a summary of significant accounting policies and other explanatory information | |||
IAS 1 is | IAS 1 is superseded by IFRS 18 Presentation and Disclosure in Financial Statements, for accounting periods starting on or after 1 January 2027. | ||
| Line 24: | Line 26: | ||
* [[FRS 102]] | * [[FRS 102]] | ||
* [[Going concern]] | * [[Going concern]] | ||
* [[IFRS 18]] | |||
* [[International Accounting Standards]] | * [[International Accounting Standards]] | ||
* [[International Financial Reporting Standards]] | * [[International Financial Reporting Standards]] | ||
* [[Liabilities]] | * [[Liabilities]] | ||
* [[Non-current]] | * [[Non-current]] | ||
* [[Notes]] | |||
* [[Primary financial statements]] | * [[Primary financial statements]] | ||
* [[Primary statements]] | * [[Primary statements]] | ||
| Line 34: | Line 38: | ||
* [[Statement of financial position]] | * [[Statement of financial position]] | ||
* [[Statement of profit or loss and other comprehensive income]] | * [[Statement of profit or loss and other comprehensive income]] | ||
== Other resources == | |||
*[https://www.iasplus.com/en/standards/ias/ias1 IAS 1 summarised - IAS Plus] | |||
*[https://www.ifrs.org/content/dam/ifrs/publications/pdf-standards/english/2022/issued/part-a/ias-1-presentation-of-financial-statements.pdf?bypass=on IAS 1 - full text] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Treasury_operations_infrastructure]] | [[Category:Treasury_operations_infrastructure]] | ||
Latest revision as of 21:06, 29 May 2024
International Accounting Standard 1, dealing with presentation of financial statements.
IAS 1 sets out the overall requirements for financial statements prepared under International Accounting Standards (IAS).
These include the concepts of going concern, the accruals basis of accounting and the distinction between current and non-current assets and liabilities.
IAS 1 requires a complete set of financial statements prepared under IAS to include:
- Statement of financial position
- Statement of profit or loss and other comprehensive income
- Statement of changes in equity
- Statement of cash flows
- Notes, comprising a summary of significant accounting policies and other explanatory information
IAS 1 is superseded by IFRS 18 Presentation and Disclosure in Financial Statements, for accounting periods starting on or after 1 January 2027.
See also
- Accruals basis
- Assets
- Current assets
- Current liabilities
- FRS 102
- Going concern
- IFRS 18
- International Accounting Standards
- International Financial Reporting Standards
- Liabilities
- Non-current
- Notes
- Primary financial statements
- Primary statements
- Statement of cash flows
- Statement of changes in equity
- Statement of financial position
- Statement of profit or loss and other comprehensive income
