in IAS 1 - Presentation of Financial Statements by
retagged by
What should include a complete set of financial statements under IFRS? How does it differ from US GAAP?

Please log in or register to answer this question.

1 Answer

0 like 0 dislike
by
selected by
 
Best answer
As per IAS 1 - Presentation of Financial Statements, a complete set of financial statements should include;

1. A statement of financial position (balance sheet) at the end of the period
2. A statement of comprehensive income for the period (or an income statement and a statement of comprehensive income)
3. A statement of changes in equity for the period
4  A statement of cash flows for the period
5. notes, comprising a summary of accounting policies and other explanatory notes
by Level 2 Member (3.2k points)
US GAAP will include all of the above. However under US GAAP, a statement of investments by and distributions to owners during the period may be presented

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers on Accounting-related questions.

Get AccountantAnswer App

Categories



...