IAS 1 Presentation of Financial Statements replaced IAS 1 Disclosure of Accounting Policies (issued in 1975), IAS 5 Information to be Disclosed in Financial Statements (originally approved in 1977) and IAS 13 Presentation of Current Assets and Current Liabilities (approved in 1979).

It sets out overall requirements for the presentation of financial statements, guidelines for their structure and minimum requirements for their content. An entity shall apply this Standard in preparing and presenting general purpose financial statements in accordance with International Financial Reporting Standards (IFRSs).

IAS 1 Presentation of Financial Statements COMPLETE SET OF FINANCIAL STATEMENTS A complete set of financial statements comprises: 1. a statement of financial position 2. a statement of profit or loss and other comprehensive income 3. a statement of changes in equity 4. a statement of cash flows (covered separately under IAS 7) 5.

IAS 1 Presentation of Financial Statements replaced IAS 1 Disclosure of Accounting Policies (issued in 1975), IAS 5 Information to be Disclosed in Financial Statements (originally approved in 1977) and IAS 13 Presentation of Current Assets and Current Liabilities (approved in 1979).

The amendment added to IAS 1 requirements for disclosure of: (a) the entity’s objectives, policies and processes for managing capital. (b) quantitative data about what the entity regards as capital.

IAS 1 Presentation of Financial Statements This Standard prescribes the basis for presentation of general purpose financial statements to ensure comparability both with the entity’s financial statements of previous periods and with the financial statements of …

Edition 2020 The IAS / IFRS standards • 17 IAS 1 Presentation of financial statements 1. Objective This Standard prescribes the general requirements for the presentation of gene-ral purpose financial statements to ensure comparability both with the entity’s financial statements of previous periods, and with the financial statements of