Indian Accounting Standard
(Ind
AS)
1
Presentation of Financial Statements
Contents Paragraphs
OBJECTIVE 1
SCOPE 2 – 6
DEFINITIONS 7-8A
FINANCIAL STATEMENTS 9-46
Purpose of financial statements 9
Complete set of financial statements 10-14
General features 15-46
Presentation of True
and
Fair View
and
compliance with Ind ASs
Going Concern 25-26
Accrual Basis of Accounting 27-28
Materiality and Aggregation 29-31
Offsetting 32-35
Frequency
of reporting 36-37
Comparative Information 38-44
Consistency
of Presentation 45-46
STRUCTURE AND CONTENT 47-138
Introduction 47-48
Identification of the financial statements 49-53
Balance
Sheet 54-80A Information to
be presented in the balance
sheet 54-59
Current/non-current distinction 60-65
Current assets 66-68
Current liabilities 69-76
Information to be presented either in balance sheet or in
the notes 77-80A
Statement of profit and loss 81-105
Information to
be
presented
in the
statement
of
profit and loss
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