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This excerpt taken from the ABN 6-K filed Sep 28, 2009. IAS 1 (revised
2007) Presentation of Financial Statements
(effective for
annual periods beginning on or after 1 January 2009)
The revised IAS 1 affects the
presentation of owner changes in equity and of comprehensive income. Information
is to be aggregated based on shared characteristics, specifically requiring
disclosure of changes in equity arising from transactions with owners separate
from other changes in equity. The Standard requires the entity to present all
items of recognised income and expense including gains and losses either in one
single statement or in two linked statements. In order to implement the revised
IAS 1, ABN AMRO presents two statements, a separate income statement displaying
components of profit or loss and a second statement, the statement of
comprehensive income, which begins with profit or loss and displays components
of other comprehensive income. The ‘owner’ changes in equity remain in the
statement of changes in equity.
In addition to this, the Standard has
introduced a number of terminology changes, including revised titles for the
financial statements. ABN AMRO has renamed the balance sheet to ‘statement of
financial position’ and the cash flow statement to ‘statement of cash flows’.
Adoption of the revised Standard has had no impact on the reported
results or financial position of the Group.
This excerpt taken from the ABN 6-K filed Aug 28, 2009. IAS 1 (revised
2007) Presentation of Financial Statements
(effective for
annual periods beginning on or after 1 January 2009)
The revised IAS 1 affects the
presentation of owner changes in equity and of comprehensive income. Information
is to be aggregated based on shared characteristics, specifically requiring
disclosure of changes in equity arising from transactions with owners separate
from other changes in equity. The Standard requires the entity to present all
items of recognised income and expense including gains and losses either in one
single statement or in two linked statements. In order to implement the revised
IAS 1, ABN AMRO presents two statements, a separate income statement displaying
components of profit or loss and a second statement, the statement of
comprehensive income, which begins with profit or loss and displays components
of other comprehensive income. The ‘owner’ changes in equity remain in the
statement of changes in equity.
In addition to this, the Standard has
introduced a number of terminology changes, including revised titles for the
financial statements. ABN AMRO has renamed the balance sheet to ‘statement of
financial position’ and the cash flow statement to ‘statement of cash flows’.
Adoption of the revised Standard has had no impact on the reported
results or financial position of the Group.
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