Înapoi la: IAS 1 – Presentation of Financial Statements 🎁🟦
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Objective and scope
IAS 1 aim to enhance the quality of financial statements by:
- Setting minimum requirements for the presentation of primary statements;
- Setting minimum requirements for notes to FS;
- Reporting full compliance with all applicable standards and interpretations;
- Providing practical guidance on issues such as going concern, consistency, materiality and comparative information.
According to IAS 1 the objective of FS is to provide information about financial position, financial performance and cash flow of an entity that is useful to a wide range of users in making economic decisions. The objective is met by providing information on:
- Assets
- Liabilities
- Equity
- Income
- Expenses
- Contribution by and distribution to owners
- Cash flows
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