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Commission Regulation
(EC) No 1725/2003 of 29 September
2003 amended by Regulation (EC) No 2238/2004
and Regulation (EC) No 1910/2005
Content |
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Structure and
Content
Introduction
42. This Standard
requires particular disclosures on the face of the balance
sheet, income statement and statement of changes in equity and
requires disclosure of other line items either on the face of
those statements or in the notes. IAS 7 sets out requirements
for the presentation of a cash flow statement.
43. This Standard
sometimes uses the term ‘disclosure’ in a broad sense,
encompassing items presented on the face of the balance sheet,
income statement, statement of changes in equity and cash flow
statement, as well as in the notes. Disclosures are also
required by other Standards and Interpretations. Unless
specified to the contrary elsewhere in this Standard, or in
another Standard or Interpretation, such disclosures are made
either on the face of the balance sheet, income statement,
statement of changes in equity or cash flowstatement (whichever
is relevant), or in the notes.
Identification of
the Financial Statements
44. The financial
statements shall be identified clearly and distinguished
from other information in the same published document.
45. IFRSs apply only
to financial statements, and not to other information
presented in an annual report or other document. Therefore, it
is important that users can distinguish information that is
prepared using IFRSs from other information that may be useful
to users but is not the subject of those requirements.
46. Each component
of the financial statements shall be identified clearly.
In addition, the following information shall be displayed
prominently, and repeated when it is necessary for a
proper understanding of the information
presented:
(a) the name
of the reporting entity or other means of identification,
and any change in that information from the preceding
balance sheet date;
(b) whether the
financial statements cover the individual entity
or
a group of entities;
(c) the balance
sheet date or the period covered by the financial
statements,
whichever is appropriate to that component of the
financial
statements;
(d) the presentation
currency, as defined in IAS 21 The Effects of
Changes in Foreign Exchange Rates; and
(e) the level of
rounding used in presenting amounts in the financial
statements.
47. The requirements
in paragraph 46 are normally met by presenting page headings
and abbreviated column headings on each page of the financial
statements. Judgement is required in determining the best way
of presenting such information. For example, when the
financial statements are presented electronically, separate
pages are not always used; the above items are then presented
frequently enough to ensure a proper understanding of the
information included in the financial statements.
48. Financial
statements are often made more understandable by presenting
information in thousands or millions of units of the
presentation currency. This is acceptable as long as the level
of rounding in presentation is disclosed and material
information is not omitted.
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