What are the features of IFRS IAS 1 Presentation of financial statements ?
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.
For more details you can view here.