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Information to Be Disclosed in Financial Statements 1976 January 1, 1977: July 1, 1998: IAS 1: IAS 6: Accounting Responses to Changing Prices 1977 January 1, 1978: January 1, 1983: IAS 15 IAS 7: Statement of Changes in Financial Position (1977) Cash Flow Statements (1992) Statement of Cash Flows (2007) 1977 January 1, 1979: IAS 8
The principles need to be specified regarding how to choose the financial assumptions to calculate liabilities. The main choices are that either these should be market-driven or based on other “long term” (and typically more subjective) assumptions. IAS 19 prescribes market-based assumptions (paragraph 77 of IAS 19).
IFRS financial statements consist of: [26] a statement of financial position (balance sheet) a statement of comprehensive income. This may be presented as a single statement or with a separate statement of profit and loss and a statement of other comprehensive income; a statement of changes in equity; a statement of cash flows
Pages in category "International Financial Reporting Standards" The following 34 pages are in this category, out of 34 total. This list may not reflect recent changes .
This article is an incomplete list of Financial Accounting Standards Board (FASB) pronouncements, which consist of Statements of Financial Accounting Standards ("SFAS" or simply "FAS"), Statements of Financial Accounting Concepts, Interpretations, Technical Bulletins, and Staff Positions, which together presented rules and guidelines for preparing, presenting, and reporting financial ...
The International Accounting Standards Committee (IASC) had been established in 1973 and had issued a number of standards known as International Accounting Standards (IAS). As the organization was reformed in 2001, it changed the name of the standard-setting body from IASC to IASB, and established a foundation to oversee it, initially known as ...
In the early 1980s, a number of Canadian listed companies began to assert compliance with IAS in their financial statements, but this seems to have been the case in few other countries. [13] One explanation of this limited direct impact is that in most countries, national accountancy bodies had no authority to force companies to adopt IAS. [14]
Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include identifying the exact entity which is reporting, discussing any "going concern" questions, specifying ...