IAS 01 PRESENTATION

FINANCIAL STATEMENT
 IAS 1 Presentation of Financial Statements

A complete set of financial statements

• The primary statements
– Statement of financial position (balance sheet) -period
end
– Statement of comprehensive income for the period
– Statement of changes in equity for the period
– Statement of cash flows for the period
• Accounting policies and explanatory notes
 Section 2: IAS 1 Presentation of Financial
Statements
The statement of financial position
• IAS 1 requires an asset or liability to be classified as
current if:
 it will be settled within 12 months of the reporting
date, or
 it is part of the entity's normal operating cycle.
• Within the equity section of the statement of financial
position, other components of equity include:
 revaluation surplus
 investment reserve
 Section 2: IAS 1 Presentation of Financial
Statements

Statement of changes in equity (SOCIE)

• The statement of changes in equity provides a summary

of all changes in equity arising from transactions with
owners in their capacity as owners.
• This includes the effect of share issues and dividends.
• Other non-owner changes in equity are disclosed in
aggregate only.
 Section 2: IAS 1 Presentation of Financial
Statements
Statement of profit or loss and other comprehensive
income

Total • is the realised profit or loss for the

comprehensive period, plus other comprehensive
income income.

• is income and expenses that are not

recognised in profit or loss. Other
Other comprehensive income includes any
comprehensive change in the revaluation of non current
income assets (IAS 16) and fair value through
other comprehensive income financial
assets (IFRS 9)