The article “IAS I: what changes in the presentation of financial information” by Dario Colombo, representative of AIAF GdL and Daniela Carosio, SVI Senior Partner, was published in the AIAF online review Nr. 50 as of March 2004.
Professor Daniela Carosio and Doctor Dario Colombo discuss the revision of article I of International Accounting Standards (IAS), that will take effect starting from 1 January 2005.
IAS I applies to all enterprises from all economic sectors. It contains the guidelines for the presentation of financial statements, with the aim of providing a true and fair information on the economic and financial situation of the company to final users.
In this article, all the five mandatory sections of the IAS financial statements are presented. It also highlights the news introduced by the present revision, as well as it makes a comparison with Italian accounting principles.
To find out more, please read the full Italian original article on the AIAF review.