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Problem 1: IAS 1 is titled:
A. The Income statement
B. Information to be Disclosed in Financial Reports
C. Presentation of Financial Statements
D. Disclosure of Operating Income
E. Accounting Policies
Problem 2: Which of the following are general requirements that apply to annual reports, as set out in IAS 1?
A. There must be a description of the entity's operations and its principal activities
B. Comparative figures for the previous reporting period must be disclosed
C. The reporting date or period covered by each financial statement must be included
D. Notes in the annual report must be presented in a systematic manner
E. All of the above
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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