June 2011
Intermediate to advanced
240 pages
5h 35m
English
Content preview from An Executive Guide to IFRS: Content, Costs and Benefits to BusinessBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
IAS 1 presentation of financial statements
This standard has been revised many times, and continues to be revised, although it will likely be replaced in 2012 or 2013 but not for application until some time after that. It is the standard of reference for the presentation of financial statements and some key disclosures. While IAS 1 does not explicitly declare this, the ultimate objective of IFRS, as laid out in its Conceptual Framework1, is to provide useful information to investors for making investment decisions. This is particularly relevant to the financial statements in that they try to distinguish the ongoing business from value changes and other changes in the business to help investors make their projections of future performance.
The standard does refer to users in the definition of materiality. It says that omissions or misstatements are material if they could influence the economic decisions of users. It adds that users are assumed to have a reasonable knowledge of business activities and accounting and a willingness to study the information provided in the financial statements with due diligence.
The standard provides that a complete set of financial statements consists of:
- Statement of Comprehensive Income
- Statement of Financial Position
- Statement of Changes in Equity
- Statement of Cash Flows
- Notes to the accounts.
The financial statements must always include previous year comparative figures. The names of the statements have been harmonized with those in use by the ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.