3General requirements for information given in accounts or consolidated accounts

## 3 General requirements for information given in accounts or consolidated accounts (1) Subject to subclauses (3), (4) and (5), for the purpose of making out the accounts or the consolidated accounts for a financial period, a reference in this Schedule to the stating of information: (a) in an entry in a profit and loss account, or in a note to that account, is to be read as a reference to the stating of that information for that period, and the stating of the corresponding information for the comparative financial period, in that entry or note; and (b) in a subheading in a balance sheet, or in a note to that balance sheet, is to be read as a reference to the stating of that information as at the end of that period, and the stating of the corresponding information as at the end of the comparative financial period, in that subheading or note. (2) If the financial periods referred to in paragraph (1) (a) or (b) are not equal in length, the periods covered must be clearly indicated in the accounts or consolidated accounts. (3) For the purpose of making out for a financial period the first accounts after the incorporation of a company or the first consolidated accounts after a company becomes a chief entity, a reference in this Schedule to the stating of information does not include the stating of information corresponding to that information for or as at the end of the comparative financial period. (4) Information relating to a matter for or as at the end of the comparative financial period need not be given in those accounts or consolidated accounts if the directors, in those accounts or consolidated accounts, state in relation to that matter, that that information cannot be so given without unreasonable expense or delay. (5) If Division 3 of Part 4 applies to a company or an economic entity for a financial period but did not so apply for the comparative financial period, the information required by that Division to be included in the accounts or consolidated accounts is not required to be given for or as at the end of the comparative financial period. (6) If the accounts or the consolidated accounts are required to include a note because of: (a) a provision in Division 2 of Part 3 — that note must be a note to the profit and loss account; or (b) a provision in Division 3 of Part 3 or clause 28, 32 or 33 — that note must be a note to the balance sheet; or (c) any other provision — that note must be a note to the profit and loss account, or to the balance sheet, forming part of those accounts or consolidated accounts. (7) If a provision of this Schedule requires information to be given in a note, a note prepared for the purposes of that provision must contain sufficient headings, cross-references or other particulars to enable the subject matter or purpose of the note to be readily identified.