Presentation
of Financial
Statements
CF
Faithful
Relevance
Representation
Purpose:
Present the:
Fin Performance: P/L & OCI
FP: SFP
CF: CFS
General Features:
Fair Presentation
Assumptions:
IFRS is applied consistently
If IFRS is applied consistently statements fairly present and vice versa
The application of IFRS must be explicitly stated
IFRS should not be used if the application will be misleading
Going Concern
Yes a GC
NO – Liquidation basis
Questionable – Will be a GC but disclosure will be made regarding the
likelihood of this changing
of Financial
Statements
CF
Faithful
Relevance
Representation
Purpose:
Present the:
Fin Performance: P/L & OCI
FP: SFP
CF: CFS
General Features:
Fair Presentation
Assumptions:
IFRS is applied consistently
If IFRS is applied consistently statements fairly present and vice versa
The application of IFRS must be explicitly stated
IFRS should not be used if the application will be misleading
Going Concern
Yes a GC
NO – Liquidation basis
Questionable – Will be a GC but disclosure will be made regarding the
likelihood of this changing
