Investor Presentaiton
CAT
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
Notes structure
Disclosure Initiative - Amendments to LKAS 1
Clarify that entities have flexibility as to the order in which they present the notes
to financial statements, but also emphasise that understandability and
comparability should be considered by an entity when deciding on that order.
Examples of systematic ordering or groupings of the notes include:
Giving prominence to the areas of its activities that the entity considers to be
most relevant to an understanding of its financial performance and financial
position, such as grouping together information about particular operating
activities
■ Grouping together information about items measured similarly, such as assets
☐ measured at fair value
■ Following the order of the line items in the statement(s) of profit or loss and
OCI and the statement of financial position, similarly to the order listed in the
current paragraph 114 of IAS 1
CAT
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
Disclosure Initiative - Amendments to LKAS 1
Disclosure of accounting policies
Remove the examples of significant accounting policies in the current paragraph
120 of IAS 1, i.e., the income taxes accounting policy and the foreign currency
accounting policy, as these were considered unhelpful in illustrating what
significant accounting policies could be.
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