Malinovskaya N.V. Candidate of Economy, Assistant Professor of Accounting, Audit and Statistics Department, Peoples' Friendship University of Russia email@example.com
Due to the revised IAS 1 «Presentation of Financial Statements» being effective for annual periods beginning on or after 1 January 2009, the entities preparing their financial statements in accordance with IFRS must comply with the new changes. The present paper addresses the new requirements of the revised standard on presentation of financial statements (IAS 1), gives an example of Statement of Comprehensive Income based on the classification of expenses by function, Statement of Comprehensive Income based on the classification of expenses by nature, and a two-statement approach example with a separate Income Statement and Other Comprehensive Income.
Keywords: comprehensive income, other comprehensive income, non-controlling interest reclassifications adjustments