01 · Concept
IAS 1 sets out what a complete set of financial statements looks like and the principles that govern how they're presented.
- 01A complete set: Statement of Financial Position, P&L and OCI, Changes in Equity, Cash Flows, Notes.
- 02Going concern, accrual basis, materiality, and consistency are foundational.
- 03Offsetting is generally prohibited unless required or permitted by a standard.