Presentation of Financial Statement 分析会计报表.pptVIP

Oct 27, 2004, (c) Rita Ilisson, Tallinn IAS 1 – Presentation of Financial Statements (effective 01.01.05) Rita Ilisson International University Concordia Audentes Member, IASB’s Standards Advisory Council IAS 1 Complete set of financial statements Objective basis for presentation of financial statements structure minimum requirements to ensure comparability Scope general purpose annual financial statements principles in p. 13-41 ?annual/interim Purpose of Financial Statements structured representation of financial position, performance and cash flows IAS 1 Complete set of financial statements Components of Financial Statements balance sheet items presented on BS and presented or disclosed income statement items presented on IS and presented or disclosed statement of changes in equity minority interest = component of equity cash flow statement (IAS 7) change in cash and cash equivalents notes accounting policies (key judgements in applying) disaggregations and narratives (key assumptions) IAS 1 Overall considerations Fair presentation unreserved compliance with IFRS (IAS, SIC, IFRS, IFRIC) = “fair” or “true and fair” application before effective date ? disclose “true and fair override” ? only in extremely rare circumstances ? compliance with a Standard would be so misleading ? would conflict with objective of the FS = true fair ? rebuttable presumption - comply if others can ? large amount of disclosure required ? response to “IAS -lite” IAS 1 Overall considerations Accounting policies comply with IFRS consistency - alternative methods (SIC 18) Going concern no intention to liquidate or to cease trading if yes ? different basis (IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations) - lower of carrying amount and fair value less costs to sell Accrual basis - transactions and events recognised when they occur, and in the periods to which they relate IAS 1 Overall considerations Offsetting generally ? assets and liabilities, income/ e