IAS 1 definition

IAS 1 means IAS 1, Financial Statement Presentation.
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IAS 1 means International Accounting Standard
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IAS 1 means international accounting standard (IAS) 1 Presentation of Financial Statements;
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Examples of IAS 1 in a sentence

  • BC31 The IFRIC noted that IAS 1 Presentation of Financial Statements (as revised in 2007) requires an entity to provide disclosures about its significant accounting policies (paragraph 117), judgements management has made in applying those policies (paragraph 122) and major sources of estimation uncertainty.

  • BC32 For greater certainty, the IFRIC concluded that, for agreements with ‘continuous transfer’, the Interpretation should require specific disclosures similar to those of paragraphs 39 and 40 of IAS 11 to satisfy the general requirements of IAS 1.

  • Initial application of the revised IAS 1 will result in a modified presentation of, in particular, the income statement and statement of changes in equity.

  • International Accounting Standards (IAS 1), Presentation of Financial Statements, read together with South African Accounting Standards (SAAS 320.03), defines items as material ‘if they could, individually or collectively, influence the economic decisions of users taken on the basis of the financial statements.

  • The following standards and Interpretations were required to be applied by Sovello for the first time in 2009: Amendments to IAS 1 (2007) Presentation of financial statements: A revised presentation Amendments to IAS 23 Borrowing costs Amendments to IFRS 7 Improving disclosures about financial instruments Various standards Improvements to IFRSs (May 2008).

  • Amended Standard IAS 1 “Presentation of Financial Statements” This standard provides extensive guidance on determining fair value for measurement or disclosure purposes.

  • The adoption of the amended IAS 1 affects the presentation of financial statements, particularly regarding the presentation of components of profit or loss and of other comprehensive income in the Statement of comprehensive income.

  • In February 2021, the International Accounting Standards Board issued narrow-scope amendments to IAS 1, Presentation of Financial Statements, IFRS Practice Statement 2, Making Materiality Judgements and IAS 8, Accounting Polices, Changes in Accounting Estimates and Errors.

  • The amendments to IAS 1 are effective for annual periods beginning on or after 1 January 2016.

  • During the year no exceptional events occurred such to require the waivers provided by IAS 1.

Related to IAS 1

  • IASB means the International Accounting Standards Board;

  • IAS means International Accounting Standards.

  • SSAP means a sporting sanctions appeal panel to be appointed to determine an appeal against a deduction of points under Rule 13.

  • International Financial Reporting Standards means the International Financial Reporting Standards issued by the International Accounting Standards Committee, and as adopted by the Canadian Institute of Chartered Accountants, as amended from time to time;

  • HKFRS Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants