Article 1.In the Annex to Regulation (EC) No 1126/2008, International Accounting...
Article 2.Each company shall apply IAS 1 (revised in 2007), as...
Article 3.This Regulation shall enter into force on the third day...
INTERNATIONAL ACCOUNTING STANDARD 1 Presentation of Financial Statements
2 An entity shall apply this Standard in preparing and presenting...
3 Other IFRSs set out the recognition, measurement and disclosure requirements...
4 This Standard does not apply to the structure and content...
5 This Standard uses terminology that is suitable for profit-oriented entities,...
6 Similarly, entities that do not have equity as defined in...
Fair presentation and compliance with IFRSs
15 Financial statements shall present fairly the financial position, financial performance...
16 An entity whose financial statements comply with IFRSs shall make...
17 In virtually all circumstances, an entity achieves a fair presentation...
18 An entity cannot rectify inappropriate accounting policies either by disclosure...
19 In the extremely rare circumstances in which management concludes that...
22 Paragraph 21 applies, for example, when an entity departed in...
23 In the extremely rare circumstances in which management concludes that...
24 For the purpose of paragraphs 19–23, an item of information...
38 Except when IFRSs permit or require otherwise, an entity shall...
39 An entity disclosing comparative information shall present, as a minimum,...
40 In some cases, narrative information provided in the financial statements...
41 When the entity changes the presentation or classification of items...
42 When it is impracticable to reclassify comparative amounts, an entity...
43 Enhancing the inter-period comparability of information assists users in making...
44 IAS 8 sets out the adjustments to comparative information required...
Identification of the financial statements
49 An entity shall clearly identify the financial statements and distinguish...
50 IFRSs apply only to financial statements, and not necessarily to...
51 An entity shall clearly identify each financial statement and the...
52 An entity meets the requirements in paragraph 51 by presenting...
53 An entity often makes financial statements more understandable by presenting...
Statement of financial position
Information to be presented in the statement of financial position...
54 As a minimum, the statement of financial position shall include...
55 An entity shall present additional line items, headings and subtotals...
56 When an entity presents current and non-current assets, and current...
57 This Standard does not prescribe the order or format in...
58 An entity makes the judgement about whether to present additional...
59 The use of different measurement bases for different classes of...
Current/non-current distinction
60 An entity shall present current and non-current assets, and current...
61 Whichever method of presentation is adopted, an entity shall disclose...
62 When an entity supplies goods or services within a clearly...
63 For some entities, such as financial institutions, a presentation of...
64 In applying paragraph 60, an entity is permitted to present...
65 Information about expected dates of realisation of assets and liabilities...
70 Some current liabilities, such as trade payables and some accruals...
71 Other current liabilities are not settled as part of the...
72 An entity classifies its financial liabilities as current when they...
73 If an entity expects, and has the discretion, to refinance...
74 When an entity breaches a provision of a long-term loan...
75 However, an entity classifies the liability as non-current if the...
76 In respect of loans classified as current liabilities, if the...
Information to be presented either in the statement of financial...
Statement of comprehensive income
81 An entity shall present all items of income and expense...
Information to be presented in the statement of comprehensive income...
82 As a minimum, the statement of comprehensive income shall include...
83 An entity shall disclose the following items in the statement...
84 An entity may present in a separate income statement (see...
85 An entity shall present additional line items, headings and subtotals...
86 Because the effects of an entity’s various activities, transactions and...
Other comprehensive income for the period
90 An entity shall disclose the amount of income tax relating...
91 An entity may present components of other comprehensive income either:...
92 An entity shall disclose reclassification adjustments relating to components of...
93 Other IFRSs specify whether and when amounts previously recognised in...
94 An entity may present reclassification adjustments in the statement of...
95 Reclassification adjustments arise, for example, on disposal of a foreign...
96 Reclassification adjustments do not arise on changes in revaluation surplus...
Information to be presented in the statement of comprehensive income...
97 When items of income or expense are material, an entity...
98 Circumstances that would give rise to the separate disclosure of...
99 An entity shall present an analysis of expenses recognised in...
100 Entities are encouraged to present the analysis in paragraph 99...
101 Expenses are subclassified to highlight components of financial performance that...
102 The first form of analysis is the ‘nature of expense’...
103 The second form of analysis is the ‘function of expense’...
104 An entity classifying expenses by function shall disclose additional information...
105 The choice between the function of expense method and the...
Statement of changes in equity
106 An entity shall present a statement of changes in equity...
107 An entity shall present, either in the statement of changes...
108 In paragraph 106, the components of equity include, for example,...
109 Changes in an entity’s equity between the beginning and the...
110 IAS 8 requires retrospective adjustments to effect changes in accounting...
Disclosure of accounting policies
117 An entity shall disclose in the summary of significant accounting...
119 In deciding whether a particular accounting policy should be disclosed,...
120 Each entity considers the nature of its operations and the...
121 An accounting policy may be significant because of the nature...
122 An entity shall disclose, in the summary of significant accounting...
123 In the process of applying the entity’s accounting policies, management...
124 Some of the disclosures made in accordance with paragraph 122...
Sources of estimation uncertainty
125 An entity shall disclose information about the assumptions it makes...
126 Determining the carrying amounts of some assets and liabilities requires...
127 The assumptions and other sources of estimation uncertainty disclosed in...
128 The disclosures in paragraph 125 are not required for assets...
129 An entity presents the disclosures in paragraph 125 in a...
130 This Standard does not require an entity to disclose budget...
131 Sometimes it is impracticable to disclose the extent of the...
132 The disclosures in paragraph 122 of particular judgements that management...
133 Other IFRSs require the disclosure of some of the assumptions...
Appendix Amendments to other pronouncements
IFRS 1 First-time Adoption of International Financial Reporting Standards
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities
IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in...
SIC-10 Government Assistance — No Specific Relation to Operating Activities
SIC-13 Jointly Controlled Entities — Non-Monetary Contributions by Venturers