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Clarification of requirements for comparative information

Presentation of Financial Statements: Clarification of requirements for comparative information


 Narrow Scope Amendment (Annual Improvements)

IAS 1 Presentation of Financial Statements: Clarification of requirements for comparative information

The IASB addressed a request to clarify the requirements for providing comparative information for:

  1. the comparative requirements for the opening statement of financial position when an entity changes accounting policies, or makes retrospective restatements or reclassifications, in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors; and
  2. the requirements for providing comparative information when an entity provides financial statements beyond the minimum comparative information requirements.

Project stages

Deliberations

Issued Documents

Stage completed - Amendment included in Annual Improvements to IFRSs (2009 -2011 Cycle) published in May 2012