IAS 1: Presentation of Financial Statements/Balance Sheet
From Wikipedia, the free encyclopedia
[edit] Scope and content
Although IAS 1 does not set out a prescribed format for the balance sheet, it does set out the minimum information which is required to be presented on the face of this statement. The list is as follows:
- property, plant and equipment;
- investment property;
- intangible assets;
- financial assets not disclosed in other headings below;
- investments accounted for using the equity method;
- biological assets;
- inventories;
- assets/disposal goups classified as held for sale;
- trade and other receivables;
- cash and cash equivalents;
- liabilities included in disposal groups classified as held for sale;
- trade and other payables;
- provisions;
- financial liabilities not disclosed in other headings above;
- liabilities and assets for current tax;
- deferred tax liabilities and assets;
- minority interest, presented within equity; and
- issued capital and reserves attributable to the equity holders of the parent entity.
[edit] Commentary
The above descriptions and the order in which items are shown can be amended if by doing so the new layout presents information to the users of the statements in a more relevant way than would be the case with the above standard headings.
As is normal practice, further details and sub-classifications of information included in the headings will be presented in the notes to the financial statements. As an example see IAS 16: Property, Plant and Equipment under which standard non-current assets within the scope of the standard are rquired to be shown in separate classes such as freehold buildings, plant and machinery, and office equipment.
|
|
|||
| IFRS/IAS Main page | IFRS 1 | IFRS 2 | IFRS 3 | IFRS 4 | IFRS 5 IAS 1 | IAS 2 | IAS 7 | IAS 8 | IAS 10 | IAS 11 | IAS 12 | IAS 14 | IAS 15 | IAS 16 | IAS 17 | IAS 18 | IAS 19 | IAS 20 | IAS 21 | IAS 22 | IAS 23 | IAS 24 | IAS 26 | IAS 27 | IAS 28 | IAS 29 | IAS 30 | IAS 31 | IAS 32 | IAS 33 | IAS 34 | IAS 35 | IAS 36 | IAS 37 | IAS 38 | IAS 39 | IAS 40 | IAS 41 |
|||
