• Register
Search Questions / Answers

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login in few seconds

Get AccountantAnswer App

How do we disclose Director's remuneration that was omitted from the Financial Statements


When and why can we disclose it?

asked Mar 23, 2014 in IAS 1 - Presentation of Financial Statements by anonymous

1 Answer

0 votes
IAS 8.42 is clear about such error correction method:
"...an entity shall correct material prior period errors retrospectively in the first set of financial statements authorised for issue after their discovery by:
(a) restating the comparative amounts for the prior period(s) presented in which the error occurred; or
(b) if the error occurred before the earliest prior period presented, restating the opening balances of assets, liabilities and equity for the earliest prior period presented."
answered Mar 24, 2014 by Ema321 Level 2 Member (3,570 points)


...