Presentation of Financial Statements
International Journal of Economics, Finance and Management Sciences
Volume 1, Issue 1, February 2013, Pages: 1-8
Received: Dec. 11, 2012; Published: Feb. 20, 2013
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Lidija Romic, Faculty of economic sciences, Subotica, Serbia
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The main purpose of this paper is to explain the requirements of international standard IAS1 Presentation of Financial Statements. The current version of this standard was issued in September 2007 and has effect for accounting periods beginning on or after January 2009. The objectice of IAS1 is to specify the overall structure and content of general purpose financial statements and so ensure that an entity’s financial statements are comparable with those of previous periods and with those of other entities. The stan-dard sets out: The general features of financial statements Guidelines with regard to their structure, and Minimum requirements for their content. IAS1 is of general application and does not deal with specific transactions or events. These are dealt with in order international standards. This paper also outlines the main requirements of international standard IAS34 Interim Financial reporting.
Financial Statements, Income Statement, Cash Flow
To cite this article
Lidija Romic, Presentation of Financial Statements, International Journal of Economics, Finance and Management Sciences. Vol. 1, No. 1, 2013, pp. 1-8. doi: 10.11648/j.ijefm.20130101.11
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