Dipankar
asked almost 2 years ago
What are the features of IFRS IAS 1 Presentation of financial statements ?
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vinod saini
answered almost 2 years ago
IAS 1 also elaborates on the following features of the financial statements:
- fairly presented and compliant with IFRS.
- prepared on a going concern basis.
- prepared using the accrual basis of accounting.
- has material classes presented separately.
- does not offset assets and liabilities.
- prepared at least annually.
- includes comparison with previous periods.
- presented consistently across periods.
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