What is Consistency of presentation the features in IFRS exam ?
IFRS requires that the presentation and classification of items in the financial statements is retained from one period to the next unless:
- it is apparent, following a significant change in the nature of the entity's operations or a review of its financial statements, that another presentation or classification would be more appropriate having regard to the criteria for the selection and application of accounting policies in IAS 8; or
- an IFRS standard requires a change in presentation.
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