IAS 1 — Presentation of Financial Statements
Modules of the standard
- Concepts36 publishedNormative and pedagogical mapping.
- Questions65 publishedTrue/false, quizzes, calculations, entries, mini-cases, judgment.
- Practical cases5 publishedProgressive cases, from beginner to expert.
- Workpapers3 publishedWorking papers with calculations and entries.
- Professional file1 publishedSimulation of a full engagement.
- Exams2 publishedSealed, versioned final exams.
- Explanations (lessons)14 publishedLesson explanations, chapter by chapter.
Practical cases
- Complete set of financial statements, compliance, going concern and accrual basisL1Beginner
- Materiality, aggregation, offsetting, comparative information and frequency of reportingL2Intermediate
- Current or non-current classification of borrowings with covenants, reclassification and disclosuresL3Advanced
- Profit or loss and other comprehensive income, changes in equity and notes: policies, judgments and estimatesL3Advanced
- From IAS 1 to IFRS 18: what remains, what is transferred and what changesL4Expert
- File on the presentation of financial statements under IAS 1: fair presentation, classification of liabilities, comprehensive income, notes and transition view to IFRS 18L4Expert
Workpapers
- General features of a set of financial statements: fair presentation, going concern, materiality and aggregation, comparatives and consistency
- Current or non-current classification of a borrowing, covenants, reclassification and total of current liabilities
- Preparation of total comprehensive income, the reconciliation of equity and the plan of the notes: accounting policies, judgments and estimates
Concepts by topic
Mapping texts (concept labels, objectives, paragraph summaries) are available in French only for now.
Purpose of financial statements, fair presentation and compliance
- The complete set of financial statements and its componentsCore1 question
- Fair presentation of position, performance and cash flowsCore1 question
- The explicit and unreserved statement of compliance with IFRSImportant1 question
- Departure from a requirement, an extremely rare caseAdvanced1 question
General features: going concern, accrual, materiality, offsetting, comparatives
- Management's going concern assessmentCore3 questions
- The going concern horizon: at least twelve monthsImportantNo question
- The accrual basis, except for cash flow informationCore3 questions
- Materiality and aggregation of similar itemsCore3 questions
- Offsetting of assets and liabilities, income and expensesCore1 question
- Reporting frequency: at least annualImportant2 questions
- Comparative information for the previous periodCore3 questions
- Consistency of presentation and classificationImportant2 questions
Statement of financial position: minimum line items and current / non-current classification
- The minimum line items of the statement of financial positionCore4 questions
- Current and non-current, or order of liquidityCore4 questions
- The criteria for classifying an asset as currentCore3 questions
- The criteria for classifying a liability as current and the right to deferCore3 questions
2020 and 2022 amendments: classification of liabilities and covenants
- The 2020 amendment: rights at the end of the period, not expectationsImportant2 questions
- The right to defer settlement: substance and existence at the end of the periodCore3 questions
- Covenants to be met at the end of the period or before, or afterCore3 questions
- Breach before the reporting date and waiver obtained afterwardsAdvancedNo question
- Disclosure on non-current liabilities subject to covenantsImportant2 questions
Statement of profit or loss and other comprehensive income
- The minimum line items and subtotals of the statement of profit or lossCore3 questions
- Other comprehensive income: reclassifiable or notCore3 questions
- One statement or two for profit or loss and comprehensive incomeImportantNo question
- The analysis of expenses by nature or by functionImportantNo question
Changes in equity, notes, policies, judgements, estimates and capital
- The statement of changes in equityCore1 question
- The structure and role of the notesImportant1 question
- Material accounting policy informationCore3 questions
- Judgements made in applying accounting policiesImportant1 question
- Major sources of estimation uncertaintyImportantNo question
- Disclosures about capital managementAdvanced1 question
Transition to IFRS 18
- IAS 1 until IFRS 18: annual periods beginning from 2027Core3 questions
- IAS 1 requirements transferred to the renamed IAS 8Important2 questions
- The statements whose structure is retained under IFRS 18Important2 questions
- The 2026 agenda decision on fair presentationSpecialisedNo question
Links with IAS 8, IAS 7 and IAS 33
- The cross-references to IAS 8, IAS 7 and IAS 33ImportantNo question