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Titles of financial statements


Can we change the titles of financial statements as we wish? For instance can I present the income statement as profit statement or something? Is it against IAS1 presentation?

asked Mar 17, 2013 in IAS 1 - Presentation of Financial Statements by anonymous
retagged Apr 23, 2013 by Visio

2 Answers

0 votes
Yes IAS 1 provides for using another title. So you can use whatever name you want. However the titles should not mislead the users of the financial statements.
answered Mar 17, 2013 by Ema321 Level 2 Member (3,570 points)
0 votes
Yes you can use any other suitable title
answered Mar 18, 2013 by anonymous


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