generally accepted auditing standards reclass threshold

IAS 1 applies to all general purpose financial statements that are prepared and presented in accordance with International Financial Reporting Standards (IFRSs). Standards for recognising, measuring, and disclosing specific transactions are addressed in other Standards and Interpretations. IAS 1 sets out the overall requirements for the presentation of financial statements, guidelines for their structure and minimum requirements for their content. The objective of IAS 1 (2007) is to prescribe the basis for presentation of general purpose financial statements, to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities. IAS 1 - Classification of debt with covenants as current or non-current.Disclosure initiative - Accounting policies.SIC-29 Disclosure - Service Concession Arrangements.SIC-27 Evaluating the Substance of Transactions in the Legal Form of a Lease.IFRIC 17 Distributions of Non-cash Assets to Owners.IAS 1 (2003) superseded SIC-18 Consistency - Alternative Methods.The new effective date of the January 2020 amendments is now 1 January 2023 IASB defers effective date of Classification of Liabilities as Current or Non-current (Amendments to IAS 1) to 1 January 2023 IAS 1 Presentation of Financial Statements (2007) issuedĮffective for annual periods beginning on or after 1 January 2009Īmended by Puttable Financial Instruments and Obligations Arising on LiquidationĮffective for annual reporting periods beginning on or after 1 January 2009Īmended by Annual Improvements to IFRSs 2007 (classification of derivatives as current or non-current)Īmended by Improvements to IFRSs 2009 (classification of liabilities as current)Įffective for annual periods beginning on or after 1 January 2010Īmended by Improvements to IFRSs 2010 (clarification of statement of changes in equity)Įffective for annual periods beginning on or after 1 January 2011Įxposure Draft ED/2010/5 Presentation of Items of Other Comprehensive Income publishedĪmended by Presentation of Items of Other Comprehensive IncomeĮffective for annual periods beginning on or after 1 July 2012Īmended by Annual Improvements 2009-2011 Cycle (comparative information)Įffective for annual periods beginning on or after 1 January 2013 IAS 1 Presentation of Financial Statements (2003) issuedĮffective for annual periods beginning on or after 1 January 2005Īmended by Amendment to IAS 1 - Capital DisclosuresĮffective for annual periods beginning on or after 1 January 2007Įxposure Draft Proposed Amendments to IAS 1 – A Revised Presentation publishedĮxposure Draft Financial Instruments Puttable at Fair Value and Obligations Arising on Liquidation published Operative for periods beginning on or after 1 July 1998 IAS 39 - Financial Instruments: Recognition and Measurement.IAS 37 - Provisions, Contingent Liabilities and Contingent Assets.

IAS 32 - Financial Instruments: Presentation.

IAS 30 - Disclosures in the Financial Statements of Banks and Similar Financial Institutions.IAS 29 - Financial Reporting in Hyperinflationary Economies.IAS 28 - Investments in Associates and Joint Ventures (2011).IAS 28 - Investments in Associates (2003).IAS 27 - Separate Financial Statements (2011).IAS 27 - Consolidated and Separate Financial Statements (2008).IAS 26 - Accounting and Reporting by Retirement Benefit Plans.IAS 21 - The Effects of Changes in Foreign Exchange Rates.IAS 20 - Accounting for Government Grants and Disclosure of Government Assistance.IAS 10 - Events After the Reporting Period.IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors.

IAS 1 - Presentation of Financial Statements.

Generally accepted auditing standards reclass threshold