World's end do not cross : is this the end of the world as we know it?
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Title
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World's end do not cross : is this the end of the world as we know it?
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Description
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A complete set of financial statements (including comparative figures) now includes the following, presented with equal prominence: 1. a statement of financial position (balance sheet); 2. a statement of comprehensive income (incorporating the income statement) (or separate income statement and statement of comprehensive income) ; 3. a statement of changes in equity; 4. a statement of cash flows (cash flow statement); 5. notes; and 6. a statement of financial position (balance sheet) at the beginning of the earliest comparative period in specific circumstance. The remainder of IAS 1 (2007) has remained largely unchanged. So it may be argued that this is not yet 'the end of the world as we know it! However, with the significant revisions of the IASB Framework underway, along with Phases B and C of the financial statements presentation project the words of TS Elliot come to mind: What we call the beginning is often the end. And to make an end is to make a beginning. The end is where we start from. The revised IAS 1 (2007) will be effective for years commencing on or after 1 January 2009.
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Creator
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Coetzee, Stephen
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Schmulian, Astrid
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Date
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2008-05-05T09:28:28Z
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2008-05-05T09:28:28Z
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2008-02
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Type
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Article
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Format
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2123828 bytes
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application/pdf
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application/pdf
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Identifier
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Coetzee, S & Schmulian, A 2008,'World's end do not cross: is this the end of the world as we know it?', Accountancy SA, pp. 22-26. [http://www.accountancysa.org.za/]
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0258-7254
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http://hdl.handle.net/2263/5108
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Language
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en
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Rights
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South African Institute of Chartered Accountants