3.3 Presentation of financial statements Flashcards Preview

Interpreting Financial & Accounting Information > 3.3 Presentation of financial statements > Flashcards

Flashcards in 3.3 Presentation of financial statements Deck (2)
Loading flashcards...
1
Q

What does IAS1 require with regard to “comparative information”?

A

Comparative information must be provided between accounting periods. Any deviation must be accounted for

2
Q

What does IAS1 require with regard to “consistency”?

A

The presentation and classification of items in the financial statements should be the same from one period tot he next.

Decks in Interpreting Financial & Accounting Information Class (161):