Presentation of Financial Statements - Presentation of...

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Presentation of Financial Statements (IAS 1) Statement of Cash Flows (IAS 7) 1
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Learning Objectives Identify the structure, content, and disclosure of financial statements Compare IFRS and FASB standards or SEC requirements, if applicable Identify minimum items presented on the statement of financial position Compare a statement of financial position under IFRS and US GAAP Describe presentation of income statements under IFRS Compare differences regarding presentation of income statement between IFRS and US GAAP Classify how interests received/paid and dividends received/paid are reported on the statement of cash flows under IFRS Compare IAS 7 cash flow statements with applicable US GAAP Standards. 2
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Components of Financial Statements General-purpose financial statements Include Statement of financial position (Balance sheet) Statement of comprehensive income (one statement or two statements) Statement of changes in equity Cash flow statement Notes Significant accounting policies Explanatory notes A third statement of financial position (and related
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This note was uploaded on 11/02/2011 for the course ACCOUNTING ACC641 taught by Professor Lin during the Spring '11 term at Prince George's Community College, Largo.

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Presentation of Financial Statements - Presentation of...

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