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according to IAS 1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › according to IAS 1

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.
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  • March 8, 2021 at 10:47 am #613924
    lewisrob
    • Topics: 8
    • Replies: 0
    • ☆

    As we know which of the following we can say for sure that is not a part of of IAS 1 presentation of financial statement?

    -Comparative information for the previous period must also be reported in the financial statements

    -A full set of financial statements include additional notes with supporting information.

    -To ensure consistency, companies must use specific expense categories such as Cost of Sales and Administration Costs

    -The Statement of Profit and Loss and Other Comprehensive Income can be reported in two separate statements.

    March 8, 2021 at 2:44 pm #613950
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49601
    • ☆☆☆☆☆

    Why are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers – they have answers and explanations
    🙂

    It is the third statement that is not a requirement of IAS 1

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