Ias1
International Accounting Standard 1
Presentation of Financial Statements
This version was issued in September 2007 and includes subsequent amendments resulting from IFRSs issued up to 3 July 2008. Its effective date is 1 January 2009.
IAS 1 Presentation of Financial Statements was issued by the International Accounting
Standards Committee in September 1997. It replaced IAS 1 Disclosure of Accounting Policies
(originally approved in 1974), IAS 5 Information to be Disclosed in Financial Statements (originally approved in 1977) and IAS 13 Presentation of Current Assets and Current Liabilities (originally approved in 1979).
In April 2001 the International Accounting Standards Board (IASB) resolved that all
Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn.
In December 2003 the IASB issued a revised IAS 1, and in August 2005 issued an
Amendment to IAS 1—Capital Disclosures.
IAS 1 and its accompanying documents were also amended by the following IFRSs:
• IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004)
• Actuarial Gains and Losses, Group Plans and Disclosures (Amendments to IAS 19)
(issued December 2004)
• IFRS 7 Financial Instruments: Disclosures (issued August 2005)
• IAS 23 Borrowing Costs (as revised in March 2007).*
In September 2007 the IASB issued a revised IAS 1.
Since then, IAS 1 has been amended by the following IFRSs:
• Puttable Financial Instruments and Obligations Arising on Liquidation
(Amendments to IAS 32 and IAS 1) (issued February 2008)*
• Improvements to IFRSs (issued May 2008).*
The following Interpretations refer to IAS 1:
• SIC-7 Introduction of the Euro (issued May 1998 and subsequently amended)
• SIC-15 Operating Leases—Incentives (issued December 1998 and subsequently amended)
• SIC-25 Income Taxes—Changes in the Tax Status of an Entity or its Shareholders
(issued December 1998 and
Presentation of Financial Statements
This version was issued in September 2007 and includes subsequent amendments resulting from IFRSs issued up to 3 July 2008. Its effective date is 1 January 2009.
IAS 1 Presentation of Financial Statements was issued by the International Accounting
Standards Committee in September 1997. It replaced IAS 1 Disclosure of Accounting Policies
(originally approved in 1974), IAS 5 Information to be Disclosed in Financial Statements (originally approved in 1977) and IAS 13 Presentation of Current Assets and Current Liabilities (originally approved in 1979).
In April 2001 the International Accounting Standards Board (IASB) resolved that all
Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn.
In December 2003 the IASB issued a revised IAS 1, and in August 2005 issued an
Amendment to IAS 1—Capital Disclosures.
IAS 1 and its accompanying documents were also amended by the following IFRSs:
• IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (issued March 2004)
• Actuarial Gains and Losses, Group Plans and Disclosures (Amendments to IAS 19)
(issued December 2004)
• IFRS 7 Financial Instruments: Disclosures (issued August 2005)
• IAS 23 Borrowing Costs (as revised in March 2007).*
In September 2007 the IASB issued a revised IAS 1.
Since then, IAS 1 has been amended by the following IFRSs:
• Puttable Financial Instruments and Obligations Arising on Liquidation
(Amendments to IAS 32 and IAS 1) (issued February 2008)*
• Improvements to IFRSs (issued May 2008).*
The following Interpretations refer to IAS 1:
• SIC-7 Introduction of the Euro (issued May 1998 and subsequently amended)
• SIC-15 Operating Leases—Incentives (issued December 1998 and subsequently amended)
• SIC-25 Income Taxes—Changes in the Tax Status of an Entity or its Shareholders
(issued December 1998 and