12. IAS 1 provides
guidance on the structure of financial statements. The
Implementation Guidance for IAS 1 illustrates ways in which
the balance sheet, income statement and statement of changes
in equity may be presented.
13. IAS 1 requires
a statement of changes in equity to be presented as a
separate component of an entity’s financial statements,
and permits information about changes in equity arising from
transactions with equity holders acting in their capacity as
equity holders (including distributions to equity holders)
to be shown either on the face of the statement or in the
notes. An entity follows the same format in its interim
statement of changes in equity as it did in its most recent
annual statement.
14. An interim financial report
is prepared on a consolidated basis if the enterprise's most
recent annual financial statements were consolidated
statements. The parent's separate financial statements are not
consistent or comparable with the consolidated statements in
the most recent annual financial report. If an enterprise's
annual financial report included the parent's separate
financial statements in addition to consolidated financial
statements, this Standard neither requires nor prohibits the
inclusion of the parent's separate statements in the
enterprise's interim financial report.
15. A user of an enterprise's
interim financial report will also have access to the most
recent annual financial report of that enterprise. It is
unnecessary, therefore, for the notes to an interim financial
report to provide relatively insignificant updates to the
information that was already reported in the notes in the most
recent annual report. At an interim date, an explanation of
events and transactions that are significant to an
understanding of the changes in financial position and
performance of the enterprise since the last annual reporting
date is more useful.
(a) a statement that the same
accounting policies and methods of computation are followed in
the interim financial statements as compared with the most
recent annual financial statements or, if those policies or
methods have been changed, a description of the nature and
effect of the change;
(b) explanatory comments about
the seasonality or cyclicality of interim operations;
(c) the nature and amount of
items affecting assets, liabilities, equity, net income, or
cash flows that are unusual because of their nature, size, or
incidence;
(d) the nature and amount of
changes in estimates of amounts reported in prior interim
periods of the current financial year or changes in estimates
of amounts reported in prior financial years, if those changes
have a material effect in the current interim period;
(e) issuances, repurchases,
and repayments of debt and equity securities;
(f) dividends paid (aggregate
or per share) separately for ordinary shares and other shares;
(g)
the following segment information (disclosure of segment
information is required in an
enterprise's interim financial report only if IFRS 8
Operating Segments requires that enterprise to disclose segment
information
in its annual financial statements):
(i) revenues from external customers, if included in
the measure of segment profit or loss reviewed by the
chief operating decision maker or otherwise regularly
provided to the chief operating decision maker;
(ii) intersegment revenues, if included in the
measure of segment profit or loss reviewed by the chief
operating decision maker or otherwise regularly provided
to the chief operating decision maker;
(iii) a measure of segment profit or loss;
(iv) total assets for which there has been a material
change from the amount disclosed in the last annual
financial statements;
(v) a description of differences from the last annual
financial statements in the basis of segmentation or in
the basis of measurement of segment profit or loss;
(vi) a reconciliation of the total of the reportable
segments’ measures of profit or loss to the entity’s
profit or loss before tax expense (tax income) and
discontinued operations. However, if an entity allocates
to reportable segments items such as tax expense (tax
income), the entity may reconcile the total of the
segments’ measures of profit or loss to profit or loss
after those items. Material reconciling items shall be
separately identified and described in that
reconciliation;
(h) material events subsequent
to the end of the interim period that have not been reflected
in the financial statements for the interim period;
(i) the effect of changes in the
composition of the entity during the interim period,
including business combinations, acquisition or disposal
of subsidiaries and long-term investments,
restructurings, and discontinuing operations. In the
case of business combinations, the entity shall disclose
the information required to be disclosed under
paragraphs 66-73 of IFRS 3 Business Combinations; and
(j) changes in contingent
liabilities or contingent assets since the last annual balance
sheet date.
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