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IAS 1 Presentation of Financial Statements - A Closer Look


  • Muthupandian, K S


The International Accounting Standards Committee issued the International Accounting Standard 1 Presentation of Financial Statements. The objective of IAS 1 is to prescribe the basis for presentation of general purpose financial statements (GPFS), to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities. The objective of GPFS is to provide information about the financial position, financial performance, and cash flows of an entity that is useful to a wide range of users in making economic decisions. This article presents a closer look of standard (objective, scope, specifications, components and disclosure requirements).

Suggested Citation

  • Muthupandian, K S, 2008. "IAS 1 Presentation of Financial Statements - A Closer Look," MPRA Paper 41617, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:41617

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    More about this item


    International Accounting Standard; Financial Statements; IASC; GPFS;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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