d.

REVIEW QUESTIONS
1.

2.

3.

Which statement is incorrect regarding PAS

1 Presentation of Financial Statements?
a. It prescribes the basis for presentation
of general purpose financial statements
to ensure comparability both with the
entitys
financial
statements
of
previous periods and with the financial
statements of other entities.
b. It sets out overall requirements for the
presentation of financial statements,
guidelines for their structure and
minimum
requirements
for
their
content.
c. It uses terminology that is suitable for
profit-oriented entities, including public
sector business entities.
d. It
sets
out
the
recognition,
measurement
and
disclosure
requirements for specific transactions
and other events.
PAS 1 does not apply to the structure and
content of
a. Condensed interim financial statements
prepared in accordance with PAS 34
Interim Financial Reporting.
b. Consolidated financial statements in
accordance with PFRS 10 Consolidated
Financial Statements.
c. PAS 27 Separate Financial Statements.
d. All of the above.

5.

A complete set of financial statements

comprises:
I.
Statement of Financial Position
II.
Statement of Comprehensive Income
III.
Statement of Changes in Equity
IV.
Statement of Cash Flows
V.
Notes to the Financial Statements
a.
b.
c.
d.

The entity shall depart from a requirement

of PFRS
a. Under no circumstances.
b. When compliance will unfavorably
affect the performance of the entity.
c. When compliance will expose the entity
to hostile take over.
d. In the extremely rare circumstances in
which management concludes that
compliance with a requirement in a
PFRS would be so misleading that it
would conflict with the objective of
financial statements set out in the
Framework.

7.

When preparing financial statements,

management shall make an assessment of
an entitys ability to continue as a going
concern.
Which statement is incorrect
regarding going concern assessment?
a. An entity shall prepare financial
statements on a going concern basis
unless management either intends to
liquidate the entity or to cease trading,
or has no realistic alternative but to do
so.
b. When management is aware, in
making its assessment, of material
uncertainties related to events or
conditions that may cast significant
doubt upon the entitys ability to
continue as a going concern, the entity
shall disclose those uncertainties.
c. When an entity does not prepare
financial statements on a going
concern basis, it shall disclose that
fact, together with the basis on which
it prepared the financial statements
and the reason why the entity is not
regarded as a going concern.
d. In assessing whether the going
concern assumption is appropriate,
management takes into account all
available information about the future,
which is at least, but is not limited to,
two years from the end of the
reporting period.

8.

Which statement is incorrect regarding

presentation of financial statements?

Financial statements
a. Are a structured representation of the
financial
position
and
financial
performance of an entity.
b. Provide information about the financial
position, financial performance and
cash flows of an entity that is useful to
a wide range of users in making
economic decisions.
c. Show the results of the managements
stewardship of the resources entrusted
to it.
d. All of the above.

Financial statements provide information

about an entitys
Assets
Liabilities
Equity
Income and expenses, including gains and
losses
V.
Contributions by and
distributions to owners in their
capacity as owners
VI.
Cash flows
a.
b.
c.

I, II, III, IV, V and VI

I, II, III, IV and V
I, II, III, IV and VI

1 | Page
Financial Statements (PAS 1)

I, II and II
I and II
I, II, III and IV
I, II, III, IV and V

6.

4.
I.
II.
III.
IV.

I, II, III and IV

Presentation of

a.
b.

c.

d.

9.

An entity shall prepare its financial

statements, without exception, using
the accrual basis of accounting.
An entity shall present separately each
material class of similar items and
items of a dissimilar nature or function
unless they are immaterial.
An entity shall not offset assets and
liabilities or income and expenses,
unless required or permitted by a
PFRS.
An entity shall present a complete set
of financial statements (including
comparative information) at least
annually.

Under the accrual basis of accounting, the

effects of transactions and other events are
a. Recorded in the accounting records
when they occur but reported in the
financial statements when cash is
received or paid
b. Recorded in the accounting records
when cash is received or paid but
reported in the financial statements
when they occur
c. Recorded in the accounting records and
reported in the financial statement
when they occur
d. Recorded in the accounting records and
reported in the financial statements
when cash is paid or received

10. Which statement is incorrect concerning

materiality?
a. The relevance of information is affected
by its nature and materiality.
b. Information is material if its omission
or misstatement could influence the
economic decision of users taken on
the basis of the financial statements.
c. Materiality depends on the size of the
item or error judged in the particular
circumstances of its omission or
misstatement.
d. Materiality provides a threshold or
cutoff point for useful information and
therefore
a
primary
qualitative
characteristic.
11. Which statement is incorrect concerning
the rule on offsetting?
a. Assets and liabilities, and income and
expenses, shall not offset unless
required or permitted by a standard.
b. Gains and losses on disposal of
noncurrent assets are reported by
deducting from the proceeds on
disposal the carrying amount of the
asset and related selling expenses.
c. Gains and losses arising from a group
of similar transactions are reported on
a net basis, for example, foreign
exchange gains and losses arising from
trading financial instruments.
d. Measuring assets net of valuation
allowances is offsetting.
12. Examples of offsetting in the financial
statements include the following except

2 | Page
Financial Statements (PAS 1)

a.
b.
c.
d.

Deducting the carrying amount of an

asset sold from the proceeds on
disposal.
Presenting cumulative effect of change
in accounting policy net of tax.
Deducting foreign exchange gains from
foreign exchange losses
Presenting accounts receivable net of
allowance for doubtful accounts

13. XYZ Inc. decided to extend its reporting

period from a year (12-month period) to a
15-month period. Which of the following is
not required under PAS in case of change
in reporting period?
a. XYZ Inc. should disclose the reason for
using a longer period than a period of
12 months.
b. XYZ
Inc.
should
disclose
that
comparative amounts used in the
financial statements are not entirely
comparable.
c. XYZ Inc. should change the reporting
period only if other similar entities in
the geographical area in which it
generally operates have done so in the
current year; otherwise its financial
statements would not be comparable
to others.
d. None of the above.
14. An entity shall disclose comparative
information in respect of the previous
period for all amounts reported in the
current periods financial statements.
When an entity applies an accounting
policy retrospectively, it shall present, as a
minimum
a. Three complete sets of financial
statements.
b. Three statements of financial position
and cash flows, two of each of the
other statements, and related notes.
c. Three statements of financial position
and
statement
of
comprehensive
income, two of each of the other
statements, and related notes.
d. Three statements of financial position,
two of each of the other statements,
and related notes.
15. Statement of financial position as at the
beginning of the earliest comparative
period is not required when an entity
a. Applies
an
accounting
policy
retrospectively.
b. Makes a retrospective restatement of
items in its financial statements.
c. Reclassifies items in its financial
statements.
d. Changes an accounting estimate.
16. These are intended to meet the needs of
users who are not in a position to require
an entity to prepare reports tailored to
their particular information needs.
a. General purpose financial statements
b. Special-purpose financial statements
c. Notes to the financial statements
d. Annual reports

Presentation of

17. Which statement is correct regarding

presentation of financial statements?
a. A complete set of financial statements
includes
statement
of
retained
earnings.
b. An entity cannot use titles for the
statements other than those used in
PAS 1.
c. Reports and statements presented
outside financial statements are within
the scope of PFRSs.
d. An entity shall present with equal
prominence
all
of
the
financial
statements in a complete set of
financial statements.
18. Which statement is incorrect regarding fair
presentation and compliance with PFRSs?
a. Fair presentation requires the faithful
representation of the effects of
transactions,
other
events
and
conditions in accordance with the
definitions and recognition criteria for
assets, liabilities, income and expenses
set out in the Framework.
b. In virtually all circumstances, an entity
achieves a fair presentation by
compliance with applicable PFRSs.
c. An entity shall not describe financial
statements as complying with PFRSs
unless they comply with all the
requirements of PFRSs.
d. An entity can rectify inappropriate
accounting policies either by disclosure
of the accounting policies used or by
notes or explanatory material.
19. A fair presentation requires an entity to
a. Select and apply accounting policies in
accordance with PAS 8 Accounting
Policies,
Changes
in
Accounting
Estimates and Errors.
b. Present
information,
including
accounting policies, in a manner that
provides relevant, reliable, comparable
and understandable information.
c. Provide additional disclosures when
compliance
with
the
specific
requirements in PFRSs is insufficient to
enable users to understand the impact
of particular transactions, other events
and conditions on the entitys financial
position and financial performance.
d. All of the above.
20. An entity shall retain the presentation and
classification of items in the financial
statements from one period to the next
unless
I. It is apparent, following a significant
change in the nature of the entitys
operations or a review of its financial
statements, that another presentation
or classification would be more
appropriate
II. A
PFRS
requires
a
change
in
presentation.
a.
b.

I only
II only

c. Either I or II
d. Neither I nor II

21. Which of the following information is not

specifically a required disclosure of PAS 1?

3 | Page
Financial Statements (PAS 1)

a.

b.
c.
d.

Name of the reporting entity or other

means of identification, and any
change in that information from the
previous year.
Level of rounding used in presenting
the financial statements.
Whether the financial statements cover
the individual entity or a group of
entities.
Names
of
major/significant
shareholders of the entity.

22. At a minimum, the face of the Statement

of Financial Position shall include all of the
following line items, except
a. Biological assets
b. Investment property
c. Patents
d. Deferred tax assets and liabilities
23. Which one of the following is not required
to be presented as minimum information
on the face of the Statement of Financial
Position, according to PAS 1?
a. Cash and cash equivalents
b. Investments accounted under the
equity method
c. Property, plant and equipment
d. Contingent liability
24. Which of the following must be included on
the face of the Statement of Financial
Position?
a. Contingent asset
b. Property,
plant
and
equipment
analyzed by class
c. Share capital and reserves analyzed by
class
d. Deferred tax
25. Which statement is correct concerning
presentation of information on the face of
the Statement of Financial Position?
I.
Additional line items, headings and
subtotals shall be presented on the
face of the Statement of Financial
Position when such presentation is
relevant to an understanding of the
entitys financial position.
II.
PAS 1 does not prescribe the order or
format in which items are to be
presented
a. I only
c. Both I and II
b. II only
d. Neither I nor II
26. An asset shall be classified as current asset
when it satisfies any of the following
criteria, except
a. It is expected to be realized or held for
sale or consumption in the normal
course of the entitys normal operating
cycle.
b. It is held primarily for the purpose of
being traded
c. It is expected to be realized within
twelve months after the end of the
reporting period
d. It is cash or cash equivalent that is
restricted from being exchanged or
used to settle a liability for at least
twelve months after the end of the
reporting period

Presentation of

27. A liability shall be classified as a current

liability when it satisfies any of the
following criteria, except
a. It is expected to be settled in the
entitys normal operating cycle
b. It is primarily held for the purpose of
being traded
c. It is due to be settled within twelve
months after the end of the reporting
period
d. The entity has an unconditional right to
defer settlement of the liability for at
least twelve months after the end of
the reporting period.
28. Which of the following liabilities should be
classified as non-current?
a. Bonds payable due to be settled within
twelve months after the reporting
period but the original term was for a
period longer than twelve months.
b. Note payable due to be settled within
twelve months after the reporting
period but an agreement to refinance
on a long-term basis is completed after
the reporting period and before the
financial statements are authorized for
issue.
c. Long term loans payable wherein an
entity breaches a provision of the
arrangement on or before the end of
the reporting period with the effect
that the liability becomes payable on
demand, but the lender agreed, after
the reporting period and before the
authorization
of
the
financial
statements for issue, not to demand
payment as a consequence of the
breach.
d. Long term loans payable wherein an
entity breaches a provision of the
arrangement on or before the end of
the reporting period with the effect
that the liability becomes payable on
demand, but the lender agreed by the
end of the reporting period to provide a
period of grace ending at least twelve
months after the reporting period,
within which the entity can rectify the
breach and during which the lender
cannot demand immediate repayment.
29. Deferred tax assets and liabilities shall be
classified on the Statement of Financial
Position as
a. Current
b. Noncurrent
c. Partly current and partly noncurrent
d. Part of equity
30. In a consolidated statement of financial
position, the non-controlling interest is
shown:
a. Separately within the non-current
liabilities;
b. Separately within the non-current
investments;
c. Separately within the equity section;
d. As part of the total current liabilities of
the group.

4 | Page
Financial Statements (PAS 1)

31. When an entity chooses not to present

properly classified Statement of Financial
Position, how should assets and liabilities
be presented?
a. Assets
and
liabilities
should
be
presented according to magnitude
b. Assets
and
liabilities
should
be
presented according to liquidity
c. Assets
and
liabilities
should
be
presented alphabetically
d. An enterprise is always required to
present properly classified Statement
of Financial Position
32. The components of equity generally
recognized by companies in the Statement
of Financial Position are:
I. Provisions
II. Debentures
III. Share capital
IV. Other reserves
V. Retained earnings
a.

b.

I, II and III only

c. II, III and V only

I, III, IV and V only d. III, IV and V only

33. Which statement is incorrect regarding

presentation of statement of profit or loss
and other comprehensive income?
a. An entity may use the title statement
of comprehensive income instead of
statement of profit or loss and other
comprehensive income.
b. An entity may present the profit or loss
section in a separate statement of
profit or loss.
c. If presented separately, the statement
of profit or loss shall immediately
precede the statement presenting
comprehensive income, which shall
begin with profit or loss.
d. An entity may present a single
statement of profit or loss and other
comprehensive income, with profit or
loss and other comprehensive income
presented in one section.
34. Comprehensive income is the change in
equity from:
a. Owner transactions.
b. Nonowner transactions.
c. Owner or non-owner transactions.
d. Capital transactions.
35. The
face
of
the
statement
of
comprehensive income shall disclose which
of the following items as allocation of profit
and loss for the period?
I. Profit or loss attributable to minority
interest
II. Profit or loss attributable to equity
holders of the parent
a. I only
b. II only
c. Both I and II
d. Neither I nor II
36. This term comprises items of income and
expenses that are not recognized in profit
or loss as required or permitted by PFRS.
a. Comprehensive income.
b. Other comprehensive income.

Presentation of

c.
d.

Profit or loss.
Retained earnings.

37. The components of other comprehensive

income include:
I.
Changes in revaluation surplus
II.
Remeasurements of defined
benefit plans
III.
Gains and losses arising from
translating the financial statements of
a foreign operation
IV.
Gains
and
losses
from
investments in equity instruments
classified as held for trading
V.
Ineffective portion of gains and
losses on hedging instruments in a
cash flow hedge
VI.
For particular liabilities designated as
at fair value through profit or loss,
the amount of the change in fair
value that is attributable to changes
in the liabilitys credit risk
a.
b.
c.
d.

I,
I,
I,
I,

II, III, IV, V and VI

II, III, V and VI
II, III and VI
II and III

38. Which of the following statements about

other comprehensive income section of
the Statement of Comprehensive income
(SOC) is/are false?
I.
The amount of revaluation surplus
reported in the other comprehensive
income section of the SOC must be the
same as the amount of revaluation
surplus ending balance in the general
ledger
II.
Foreign exchange gains and losses
arising from purchase of property and
equipment should be reported under
the
other
comprehensive
income
section of the SOC
III.
Unrealized gain or loss on the change
in value of Investment Property should
be presented in other comprehensive
income section of the SOC
IV.
Only the current years unrealized gain
or loss on change in value of available
for sale securities should be shown
under other comprehensive income of
the SOC
a.
b.

I and II only
c. I, II and III only
III and IV only d. I,II,III and IV

39. Which statement is incorrect regarding

reclassification adjustments?
a. Reclassification
adjustments
are
amounts reclassified to profit or loss in
the
current
period
that
were
recognized in other comprehensive
income in the current or previous
periods.
b. A
reclassification
adjustment
is
included with the related component of
other comprehensive income in the
period
that
the
adjustment
is
reclassified to profit or loss.
c. Reclassification adjustment is intended
to avoid including the gains and losses
in total comprehensive income twice.

5 | Page
Financial Statements (PAS 1)

d.

An entity shall present reclassification

adjustments in the statement(s) of
profit or loss and other comprehensive
income.

40. Reclassification adjustments arise

a. On disposal of a foreign operation
b. On changes in revaluation surplus
c. On re-measurements of defined benefit
plans
d. On any of the above
41. Which of the following would not
reported
on
the
Statement
Comprehensive Income?
a. Finance costs
b. Discontinued operations
c. Income tax expense
d. Correction of prior period error

be
of

42. Which of the following is shown in the

Statement of Comprehensive Income net
of applicable income taxes?
a. Gain or loss on sale of plant assets
b. Cumulative effect of a change in
accounting policies
c. Discontinued operations
d. Gain or loss arising from de-recognition
of financial assets measured at
amortized cost
43. An entity presents an analysis of expenses
using a classification based on:
a. The nature of expenses.
b. The function of expenses.
c. Either the nature of expenses or the
function of expenses within the entity,
whichever provides information that is
reliable and more relevant.
d. Either the nature of expenses or the
function of expenses within the entity,
whichever the entity would prefer to
present.
44. Separate line items in an analysis of
expenses by nature include:
a. Purchases of materials, transport costs,
employee
benefits,
depreciation,
extraordinary items.
b. Purchases of materials, distribution
costs, administrative costs, employee
benefits, depreciation, taxes.
c. Depreciation, purchases of materials,
employee benefits and advertising
costs.
d. Cost of sales, administrative costs,
transport costs, distribution costs etc.
45. Separate line items in an analysis of
expenses by function include:
a. Purchases of materials, transport costs,
employee
benefits,
depreciation,
extraordinary items.
b. Purchases of materials, distribution
costs, administrative costs, employee
benefits, depreciation, taxes.
c. Depreciation, purchases of materials,
employee benefits and advertising
costs.
d. Cost of sales, administrative expenses,
distribution expenses

Presentation of

46. When an entity opts to present the

Statement of Comprehensive Income
classifying expenses by function, which of
the following is not required to be disclosed
as "additional information"?
a. Depreciation expense
b. Employee benefits expense
c. Director's remuneration
d. Amortization expense
47. Limitations
of
the
Statement
of
Comprehensive Income include all of the
following, except
a. Items that cannot be measured reliably
are not reported
b. Income
measurement
involves
judgment
c. Income numbers are affected by the
accounting methods employed
d. Only actual amounts are reported in
determining net income
48. Which statement is true?
First statement: The components of other
comprehensive income can be presented in
the statement of shareholders' equity.
Second statement: An item may be
reported as extraordinary if the subjective
criteria of being both unusual and
infrequent are met.
a.
b.
c.
d.

The first statement only

The second statement only
Both statements
None of the statements

49. Statement of Changes in Equity means

a It is a statement that gives more
information about the total amount of
shares issued to the public
b It is a statement that shows all
changes in an entitys equity between
two balance sheet dates
c It is a statement that gives information
how the total funds are raised during
the year in the form of shares, bank
loans, debentures etc.
d It is a statement that gives information
about profitability and dividends
50. The statement of changes in equity
includes a reconciliation between:
a. The carrying amount of retained
earnings at the beginning and the end
of the period.
b. The carrying amount of total equity at
the beginning and the end of the
period.
c. The
carrying
amount
of
each
component of equity at the beginning
and the end of the period separately
disclosing changes resulting from: (i)
profit or loss, (ii) each item of
comprehensive income, and (iii) the
amounts of investments by, and
dividends and other distributions to,
owners.
d. The carrying amount of property, plant
and equipment

6 | Page
Financial Statements (PAS 1)

51. The statement of changes in equity should

disclose the following, except
a. Total comprehensive income
b. Gains and losses for the period
c. Capital transactions with owners and
distributions to owners
d. Correction of prior period errors
52. Which of the following items will not
appear in the statement of changes in
Equity?
a. Total comprehensive income
b. Dividends
c. Change in depreciation method
d. Correction of prior error
53. The notes shall present information
I.
About the basis of preparation of the
financial statements
II.
Required by PFRS that is not presented
elsewhere in the financial statements
III.
Not presented elsewhere in the
financial statements but is relevant to
an understanding of any of them
a.
b.
c.
d.

I only
II only
III only
I, II, and III

54. What is the first item presented in the

notes to the financial statements?
a. Statement of compliance with PFRS
b. Summary of significant accounting
policies
c. Supporting
information
for
items
presented on the face of the financial
statement
d. Other disclosures, including contingent
liabilities, unrecognized contractual
commitments
and
nonfinancial
disclosure.
55. An entity shall disclose in the summary of
significant accounting policies:
a. The measurement basis (or bases)
used
in
preparing
the
financial
statements.
b. All the measurement bases irrespective
of whether they were used by the
entity
in
preparing
its
financial
statements.
c. The measurement basis (or bases)
used
in
preparing
the
financial
statements and the accounting policies
used
that
are
relevant
to
an
understanding
of
the
financial
statements.
d. All of the measurement bases and the
accounting policy choices available to
the entity irrespective of whether they
were used by the entity in preparing its
financial statements.
56. According to PAS 1, which of the following
should be disclosed in the notes to the
financial statements?
I. Unrecognized contractual commitments
and entitys financial risk management
objectives and policies
II. Sources of estimation uncertainty

Presentation of

III. Summary quantitative data about

amount
of
puttable
financial
instruments classified as equity
IV. Important
movements
in
key
management personnel
a. I, II and III only
c.
I, III and
IV only
b. II, III and IV only
d.
I, II, III and
IV

II.

a.
b.

Which
of
the
following
statements
regarding fair presentation and compliance
with
generally
accepted
accounting
principles is false?
I.
The
application
of
PFRSs,
with
additional disclosures when necessary,
is presumed to result in financial
statements
that
achieve
fair
presentation
II.
An entity whose financial statements
comply with PFRSs shall make an
explicit and unreserved statement of
such compliance in the notes
III.
Inappropriate accounting treatment
may be rectified either by disclosure of
accounting policies or by notes or
explanatory material

6.

Are the following statements true or false,

according to PAS1 Presentation of financial
statements?
(1) Biological assets should be shown in
the statement of financial position.
(2) The number of shares authorized for
issue should be shown in the
statement of financial position or the
statement of changes in equity or in
the notes.

2.

a.
b.

3.

4.
I.

a.
b.
c.
d.
7.

Statement I only c. Statement I and II only

Statement III only d. Statements I, II & III

Financial
statements
achieved
fair
presentation when
a. The PFRS issued by FRSC are
appropriately applied, with additional
disclosures when necessary
b. Inappropriate accounting treatments
are corrected or rectified through
disclosures
c. They comply with majority of the
requirements of each applicable PFRS
and each applicable interpretations
d. All of the above
Which of the following statement is (are)
true?
When preparing financial statements,
management is required to make an
assessment of an enterprises ability
to continue as a going concern which
should be at least five years from the
balance sheet date

7 | Page
Financial Statements (PAS 1)

c. I only
d. neither I nor II

The following relates to materiality and

aggregation, except
a. Each financial statement item should
be presented separately in the financial
statements.
b. Items of dissimilar nature or function
shall be presented separately.
c. Immaterial
amounts
should
be
aggregated with amounts of similar
nature or function and need not be
presented separately.
d. Specific disclosure requirement in a
Standard need not be satisfied if the
information is not material.

DO-IT-YOURSELF (DIY) DRILL

An entity shall present:
a. The statement of cash flows more
prominently than the other statements.
b. The statement of financial position
more prominently than the other
statements.
c. The
statement
of
comprehensive
income more prominently than the
other statements.
d. Each financial statement with equal
prominence.

I and II only
II only

5.

- now do the DIY drill

1.

When the financial statements are not

prepared on a going concern basis,
this fact should be disclosed

Statement 2
True
True
False
False

Which are the following are the acceptable

methods for reporting comprehensive
income for the period
I. One statement of comprehensive
income
II. Two statements; an income statement
and a statement of comprehensive
income
III. In the statement of owners equity
a.
b.
c.
d.

8.

Statement 1
False
True
False
True

I only
I and II only
I, II and III
I and III only

Which statement is false?

First statement: Comprehensive income
reports an expanded version of income to
include certain types of gains and losses
not
included
in
traditional
income
statements.
Second statement: Comprehensive income
is the total change in shareholders' equity
that occurred during the period.
a.
b.
c.
d.

9.

The first statement only

The second statement only
Both statements
None of the statements

Other comprehensive income includes all of

the following except

Presentation of

a.
b.
c.
d.

Unrealized gain on available for sale

financial asset
Loss from translating the financial
statements of a foreign operation
Actuarial gain on defined benefit plan
that is fully recognized
Share premium

10. Which statement is true?

First
statement:
Philippine
Financial
Reporting Standards require a company to
classify expenses in an income statement
by function.
Second statement: Income from continuing
operations sometimes includes gains from
non-operating activities.
a.
b.
c.
d.

The first statement only

The second statement only
Both statements
None of the statements

11. A characteristic of the notes to the financial

statements is that:
a. They present information that can be
expressed in money terms.
b. They are separate from the financial
statements.
c. They are not important.
d. They describe accounting policies.
12. PAS
1
Presentation
of
Financial
Statements, requires that an entity must
disclose the following information in its
financial statements:
a.
b.
c.
A
description of
the
entitys operations
No
Yes
No
The name of the entitys
ultimate parent
No
Yes
No
The
address
of
the
registered office
No
Yes
Yes

- end of ToA.1831 -

8 | Page
Financial Statements (PAS 1)

Presentation of

d.
Yes
No
Yes

9 | Page
Financial Statements (PAS 1)

Presentation of