IFRS 1 | IAS 1| International Financial Reporting Standard 1 International Accounting Course

In this video, I discuss the IFRS 1. The main objective of IFRS 1 is to ensure that the entity's financial statements that firstly adopted IFRS contain high quality of information . IFRS 1 requires an entity to use the same accounting policies in its opening IFRS statement of financial position and throughout all periods. Farhat Accounting Lectures can help you understand IFRS 1

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Updated video :    • International Accounting Course  


Summary of IAS 1 shortly explains IFRS financial statements, their purpose, general features and looks to the statement of financial position, statement of comprehensive income and statement of changes in equity.