AASB 101 - Presentation of Financial Statements - October 2006
IntroductionIntroduction
Start here
Get a plain-English read of Introduction
Turn the raw legal text into a practical explanation grounded in AASB 101 - Presentation of Financial Statements - October 2006.
Introduction
-
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. AASB 107 Cash Flow Statements sets out requirements for the presentation of a cash flow statement.
-
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 Australian Accounting Standards. Unless specified to the contrary elsewhere in this Standard, or in another Australian Accounting Standard, such disclosures are made either on the face of the balance sheet, income statement, statement of changes in equity or cash flow statement (whichever is relevant), or in the notes.