PRESENTATION OF FINANCIAL

STATEMENTS FOR COMPANIES

IAS 1 – Presentation of Financial Statements
 Financial Statements

Company Financial
Statements

Statement of Profit
Statement of Statement of or Loss and
Financial Position Changes in Equity other Comprehensive
Income
IAS 1 – PRESENTATION OF FINANCIAL
STATEMENTS
IAS 1 Presentation of Financial Statements states that a complete
set of financial statements comprises:
 A statement of financial position
 A statement of profit or loss and other comprehensive income
 A statement of changes in equity
 A statement of cash flows
 Accounting policies and explanatory notes
EXCEPTIONAL ITEMS

Exceptional items is the nature often given to material items of income and
expense of such size, nature or incidence that disclosure is necessary in order
to explain the performance of the entity.

The accounting treatment is to:

 Include the item in the standard of statement of profit or loss line
 Disclose the nature and amount in the notes
EXCEPTIONAL ITEMS

In some cases it may be more appropriate to show the item separately on

the face of the statement of profit or loss:

Examples:
• Restructuring costs
• Gains/losses on disposals of non-current assets
• Discontinued operations
• Court settlements
• Redundancy costs