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Indian Accounting Standard (Ind AS) 1

Presentation of Financial Statements

Contents ParagraphsOBJECTIVE 1

SCOPE 2 6

DEFIITIOS 7-8A

FIACIA! STATE"ETS 9-46

Purpose o# #inancia$ state%ents 9

Co%p$ete set o# #inancia$ state%ents 10-14

&enera$ #eatures 15-46

Presentation of True and Fair View and com!iancewit" #nd A$s

15-24

%oin& 'oncern 25-26

Accrua! (asis of Accountin& 27-28

)ateria!it* and A&&re&ation 29-+1

,ffsettin& +2-+5

Freuenc* of reortin& +6-+7

'omarati.e #nformation +8-44

'onsistenc* of Presentation 45-46

ST'CT'E AD COTET 47-1+8

Introduction 47-48

Identi#ication o# the #inancia$ state%ents 49-5+

Ba$ance Sheet 54-80A

#nformation to /e resented in t"e /a!ance s"eet 54-59'urrentnon-current distinction 60-65

'urrent assets 66-68

'urrent !ia/i!ities 69-76

#nformation to /e resented eit"er in /a!ance s"eetor in t"e notes

77-80A

State%ent o# pro#it and $oss 81-105

#nformation to /e resented in t"e statement of

rofit and !oss

82-87

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Profit or !oss for t"e eriod 88-89

,t"er comre"ensi.e income for t"e eriod 90-96

#nformation to /e resented in t"e statement ofrofit and !oss or in t"e notes

97-105

State%ent o# changes in euit* 106-110

State%ent o# cash #$o+s 111

otes 112-1+8

$tructure 112-116

isc!osure of accountin& o!icies 117-124

$ources of estimation uncertaint* 125-1++

'aita!

Putta/!e financia! instruments c!assified as euit*

1+4-1+6

1+6A,t"er disc!osures 1+7-1+8

APPEDICES

Appendi, A 'e#erences to %atters contained in other IndianAccounting Standards (Ind ASs)

Appendi, 1 Co%parison +ith IAS 1- Presentation of FinancialStatements

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Impracticable App$*ing a reuire%ent is i%practica.$e +hen the entit*cannot app$* it a#ter %a6ing e0er* reasona.$e e##ort to do so

Indian Accounting Standards (Ind ASs) are Standards prescri.ed underSection 711(8C) o# the Co%panies Act- 19:;

Material O%issions or %isstate%ents o# ite%s are %ateria$ i# the* cou$d-indi0idua$$* or co$$ecti0e$*- in#$uence the econo%ic decisions that users%a6e on the .asis o# the #inancia$ state%ents "ateria$it* depends on thesi

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!eclassification ad"ustments are a%ounts rec$assi#ied to pro#it or $oss inthe current period that +ere recognised in other co%prehensi0e inco%e inthe current or pre0ious periods

#otal comprehensive income is the change in euit* during a periodresu$ting #ro% transactions and other e0ents- other than those changesresu$ting #ro% transactions +ith o+ners in their capacit* as o+ners

Tota! comre"ensi.e income comrises a!! comonents of rofit or !oss and ofot"er comre"ensi.e income3

8 =>efer to Aendi 1;?

8A3 T"e fo!!owin& terms are descri/ed in #nd A$ +2 inancial InstrumentsPresentation and are used in t"is $tandard wit" t"e meanin& secified in #nd A$+2

:a; utta/!e financia! instrument c!assified as an euit* instrument :descri/ed inara&ra"s 16A and 16( of #nd A$ +2;

(b) an instrument t"at imoses on t"e entit* an o/!i&ation to de!i.er to anot"erart* a ro rata s"are of t"e net assets of t"e entit* on!* on !iuidation and isc!assified as an euit* instrument :descri/ed in ara&ra"s 16' and 16 of #nd A$+2;3

Financia$state%ents

Purposeo# #inancia$state%ents

9 Financia! statements are a structured reresentation of t"e financia! osition andfinancia! erformance of an entit*3 T"e o/@ecti.e of financia! statements is toro.ide information a/out t"e financia! osition financia! erformance and cas"f!ows of an entit* t"at is usefu! to a wide ran&e of users in main& economicdecisions3 Financia! statements a!so s"ow t"e resu!ts of t"e mana&ementsstewards"i of t"e resources entrusted to it3 To meet t"is o/@ecti.e financia!statements ro.ide information a/out an entit*s

:a; assetseorts and statementsresented outside financia! statements are outside t"e scoe of #nd A$s3

&enera$ #eatures

Presentation o# True and Fair Vie+and co%p$iance +ith Ind ASs

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1: Financia$ state%ents sha$$ present a true and #air 0ie+ o# the #inancia$position- #inancia$ per#or%ance and cash #$o+s o# an entit* Presentationo# true and #air 0ie+ reuires the #aith#u$ representation o# the e##ects o#transactions- other e0ents and conditions in accordance +ith thede#initions and recognition criteria #or assets- $ia.i$ities- inco%e ande,penses set out in the Frameor$ The app$ication o# Ind ASs- +ithadditiona$ disc$osure +hen necessar*- is presu%ed to resu$t in #inancia$state%ents that present a true and #air 0ie+

1; An entit* +hose #inancia$ state%ents co%p$* +ith Ind ASs sha$$ %a6e ane,p$icit and unreser0ed state%ent o# such co%p$iance in the notes Anentit* sha$$ not descri.e #inancia$ state%ents as co%p$*ing +ith Ind ASsun$ess the* co%p$* +ith a$$ the reuire%ents o# Ind ASs

17 #n .irtua!!* a!! circumstances resentation of a true and fair .iew is ac"ie.ed /*com!iance wit" a!ica/!e #nd A$s3 Presentation of a true and fair .iew a!soreuires an entit*

:a; to se!ect and a!* accountin& o!icies in accordance wit" #nd A$ 8Accounting Policies, "hanges in Accounting %stimates and %rrors3 #nd A$8 sets out a "ierarc"* of aut"oritati.e &uidance t"at mana&ement considersin t"e a/sence of an #nd A$ t"at secifica!!* a!ies to an item3

:/; to resent information inc!udin& accountin& o!icies in a manner t"atro.ides re!e.ant re!ia/!e comara/!e and understanda/!e information3

:c; to ro.ide additiona! disc!osures w"en com!iance wit" t"e secificreuirements in #nd A$s is insufficient to ena/!e users to understand t"eimact of articu!ar transactions ot"er e.ents and conditions on t"e entit*sfinancia! osition and financia! erformance3

1 An entit* cannot recti#* inappropriate accounting po$icies either .*disc$osure o# the accounting po$icies used or .* notes or e,p$anator*%ateria$

19 In the e,tre%e$* rare circu%stances in +hich %anage%ent conc$udes thatco%p$iance +ith a reuire%ent in an Ind AS +ou$d .e so %is$eading that it+ou$d con#$ict +ith the o./ecti0e o# #inancia$ state%ents set out in theFrameor$- the entit* sha$$ depart #ro% that reuire%ent in the %anner setout in paragraph 7= i# the re$e0ant regu$ator* #ra%e+or6 reuires- orother+ise does not prohi.it- such a departure

7= hen an entit* departs #ro% a reuire%ent o# an Ind AS in accordance+ith paragraph 19- it sha$$ disc$ose3

(a) that %anage%ent has conc$uded that the #inancia$ state%ents presenta true and #air 0ie+ o# the entit*5s #inancia$ position- #inancia$per#or%ance and cash #$o+s>

(.) that it has co%p$ied +ith app$ica.$e Ind ASs- e,cept that it hasdeparted #ro% a particu$ar reuire%ent to present a true and #air0ie+>

(c) the tit$e o# the Ind AS #ro% +hich the entit* has departed- the nature

o# the departure- inc$uding the treat%ent that the Ind AS +ou$dreuire- the reason +h* that treat%ent +ou$d .e so %is$eading in the

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circu%stances that it +ou$d con#$ict +ith the o./ecti0e o# #inancia$state%ents set out in the Frameor$- and the treat%ent adopted> and

(d) #or each period presented- the #inancia$ e##ect o# the departure oneach ite% in the #inancia$ state%ents that +ou$d ha0e .een reported inco%p$*ing +ith the reuire%ent

71 hen an entit* has departed #ro% a reuire%ent o# an Ind AS in a priorperiod- and that departure a##ects the a%ounts recognised in the #inancia$state%ents #or the current period- it sha$$ %a6e the disc$osures set out inparagraph 7=(c) and (d)

22 Para&ra" 21 a!ies for eam!e w"en an entit* dearted in a rior eriodfrom a reuirement in an #nd A$ for t"e measurement of assets or !ia/i!ities andt"at dearture affects t"e measurement of c"an&es in assets and !ia/i!itiesreco&nised in t"e current eriods financia! statements3

78 In the e,tre%e$* rare circu%stances in +hich %anage%ent conc$udes thatco%p$iance +ith a reuire%ent in an Ind AS +ou$d .e so %is$eading that it+ou$d con#$ict +ith the o./ecti0e o# #inancia$ state%ents set out in theFrameor$- .ut the re$e0ant regu$ator* #ra%e+or6 prohi.its departure#ro% the reuire%ent- the entit* sha$$- to the %a,i%u% e,tent possi.$e-reduce the percei0ed %is$eading aspects o# co%p$iance .* disc$osing3

(a) the tit$e o# the Ind AS in uestion- the nature o# the reuire%ent- andthe reason +h* %anage%ent has conc$uded that co%p$*ing +ith thatreuire%ent is so %is$eading in the circu%stances that it con#$icts+ith the o./ecti0e o# #inancia$ state%ents set out in the Frameor$>and

(.) #or each period presented- the ad/ust%ents to each ite% in the#inancia$ state%ents that %anage%ent has conc$uded +ou$d .enecessar* to present a true and #air 0ie+

24 For t"e urose of ara&ra"s 192+ an item of information wou!d conf!ict wit"t"e o/@ecti.e of financia! statements w"en it does not reresent fait"fu!!* t"etransactions ot"er e.ents and conditions t"at it eit"er urorts to reresent orcou!d reasona/!* /e eected to reresent and conseuent!* it wou!d /e !ie!*to inf!uence economic decisions made /* users of financia! statements3 "enassessin& w"et"er com!*in& wit" a secific reuirement in an #nd A$wou!d /e

so mis!eadin& t"at it wou!d conf!ict wit" t"e o/@ecti.e of financia! statements setout in t"e ramewor# mana&ement considers

:a; w"* t"e o/@ecti.e of financia! statements is not ac"ie.ed in t"e articu!arcircumstances< and

:/; "ow t"e entit*s circumstances differ from t"ose of ot"er entities t"atcom!* wit" t"e reuirement3 #f ot"er entities in simi!ar circumstancescom!* wit" t"e reuirement t"ere is a re/utta/!e resumtion t"at t"eentit*s com!iance wit" t"e reuirement wou!d not /e so mis!eadin& t"at itwou!d conf!ict wit" t"e o/@ecti.e of financia! statements set out in t"eramewor#3

&oing concern

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87 An entit* sha$$ not o##set assets and $ia.i$ities or inco%e and e,penses-un$ess reuired or per%itted .* an Ind AS

++ An entit* reorts searate!* /ot" assets and !ia/i!ities and income andeenses3 ,ffsettin& in t"e statements of rofit and !oss or /a!ance s"eetecet w"en offsettin& ref!ects t"e su/stance of t"e transaction or ot"er e.entdetracts from t"e a/i!it* of users /ot" to understand t"e transactions ot"ere.ents and conditions t"at "a.e occurred and to assess t"e entit*s future cas"f!ows3 )easurin& assets net of .a!uation a!!owancesBfor eam!eo/so!escence a!!owances on in.entories and dou/tfu! de/ts a!!owances onrecei.a/!esBis not offsettin&3

+4 #nd A$ 18 !evenue defines re.enue and reuires an entit* to measure it at t"efair .a!ue of t"e consideration recei.ed or recei.a/!e tain& into account t"eamount of an* trade discounts and .o!ume re/ates t"e entit* a!!ows3 An entit*undertaes in t"e course of its ordinar* acti.ities ot"er transactions t"at do not

&enerate re.enue /ut are incidenta! to t"e main re.enue-&eneratin& acti.ities3An entit* resents t"e resu!ts of suc" transactions w"en t"is resentationref!ects t"e su/stance of t"e transaction or ot"er e.ent /* nettin& an* incomewit" re!ated eenses arisin& on t"e same transaction3 For eam!e

:a; an entit* resents &ains and !osses on t"e disosa! of non-current assetsinc!udin& in.estments and oeratin& assets /* deductin& from t"eroceeds on disosa! t"e carr*in& amount of t"e asset and re!ated se!!in&eenses< and

:/; an entit* ma* net eenditure re!ated to a ro.ision t"at is reco&nised inaccordance wit" #nd A$ +7 Provisions, "ontingent *iabilities and"ontingent Assets and reim/ursed under a contractua! arran&ement wit"a t"ird art* :for eam!e a su!iers warrant* a&reement; a&ainst t"ere!ated reim/ursement3

+5 #n addition an entit* resents on a net /asis &ains and !osses arisin& from a&rou of simi!ar transactions for eam!e forei&n ec"an&e &ains and !osses or&ains and !osses arisin& on financia! instruments "e!d for tradin&3 owe.er anentit* resents suc" &ains and !osses searate!* if t"e* are materia!3

Freuenc* o# reporting

8; An entit* sha$$ present a co%p$ete set o# #inancia$ state%ents (inc$udingco%parati0e in#or%ation) at $east annua$$* hen an entit* changes theend o# its reporting period and presents #inancia$ state%ents #or a period$onger or shorter than one *ear- an entit* sha$$ disc$ose- in addition to theperiod co0ered .* the #inancia$ state%ents3

(a) the reason #or using a $onger or shorter period- and

(.) the #act that a%ounts presented in the #inancia$ state%ents are notentire$* co%para.$e

+7 =>efer to Aendi 1?

Co%parati0e in#or%ation

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8 E,cept +hen Ind ASs per%it or reuire other+ise- an entit* sha$$ disc$oseco%parati0e in#or%ation in respect o# the pre0ious period #or a$$ a%ountsreported in the current period5s #inancia$ state%ents An entit* sha$$inc$ude co%parati0e in#or%ation #or narrati0e and descripti0e in#or%ation+hen it is re$e0ant to an understanding o# the current period5s #inancia$state%ents

+9 An entit* disc!osin& comarati.e information s"a!! resent as a minimum two/a!ance s"eets two of eac" of t"e ot"er statements and re!ated notes3 "enan entit* a!ies an accountin& o!ic* retrosecti.e!* or maes a retrosecti.erestatement of items in its financia! statements or w"en it rec!assifies items in itsfinancia! statements it s"a!! resent as a minimum t"ree /a!ance s"eets twoof eac" of t"e ot"er statements and re!ated notes3 An entit* resents /a!ances"eets as at

:a; t"e end of t"e current eriod

:/; t"e end of t"e re.ious eriod :w"ic" is t"e same as t"e /e&innin& of t"e

current eriod; and

:c; t"e /e&innin& of t"e ear!iest comarati.e eriod3

40 #n some cases narrati.e information ro.ided in t"e financia! statements for t"ere.ious eriod:s; continues to /e re!e.ant in t"e current eriod3 For eam!ean entit* disc!oses in t"e current eriod detai!s of a !e&a! disute w"oseoutcome was uncertain at t"e end of t"e immediate!* recedin& reortin& eriodand t"at is *et to /e reso!.ed3 Csers /enefit from information t"at t"euncertaint* eisted at t"e end of t"e immediate!* recedin& reortin& eriodand a/out t"e stes t"at "a.e /een taen durin& t"e eriod to reso!.e t"euncertaint*3

1 hen the entit* changes the presentation or c$assi#ication o# ite%s in its#inancia$ state%ents- the entit* sha$$ rec$assi#* co%parati0e a%ountsun$ess rec$assi#ication is i%practica.$e hen the entit* rec$assi#iesco%parati0e a%ounts- the entit* sha$$ disc$ose3

(a) the nature o# the rec$assi#ication>

(.) the a%ount o# each ite% or c$ass o# ite%s that is rec$assi#ied> and

(c) the reason #or the rec$assi#ication

7 hen it is i%practica.$e to rec$assi#* co%parati0e a%ounts- an entit* sha$$disc$ose3

(a) the reason #or not rec$assi#*ing the a%ounts- and

(.) the nature o# the ad/ust%ents that +ou$d ha0e .een %ade i# thea%ounts had .een rec$assi#ied

4+ Dn"ancin& t"e inter-eriod comara/i!it* of information assists users in main&economic decisions esecia!!* /* a!!owin& t"e assessment of trends in financia!information for redicti.e uroses3 #n some circumstances it is imractica/!eto rec!assif* comarati.e information for a articu!ar rior eriod to ac"ie.e

comara/i!it* wit" t"e current eriod3 For eam!e an entit* ma* not "a.e

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is reared usin& #nd A$s from ot"er information t"at ma* /e usefu! to users/ut is not t"e su/@ect of t"ose reuirements3

:1 An entit* sha$$ c$ear$* identi#* each #inancia$ state%ent and the notes Inaddition- an entit* sha$$ disp$a* the #o$$o+ing in#or%ation pro%inent$*- andrepeat it +hen necessar* #or the in#or%ation presented to .eunderstanda.$e3

(a)the na%e o# the reporting entit* or other %eans o# identi#ication- andan* change in that in#or%ation #ro% the end o# the precedingreporting period>

(.) +hether the #inancia$ state%ents are o# an indi0idua$ entit* or a groupo# entities>

(c)the date o# the end o# the reporting period or the period co0ered .* theset o# #inancia$ state%ents or notes>

(d) the presentation currenc*- as de#ined in Ind AS 71> and

(e) the $e0e$ o# rounding used in presenting a%ounts in the #inancia$state%ents

52 An entit* meets t"e reuirements in ara&ra" 51 /* resentin& aroriate"eadin&s for a&es statements notes co!umns and t"e !ie3 Eud&ement isreuired in determinin& t"e /est wa* of resentin& suc" information3 Foream!e w"en an entit* resents t"e financia! statements e!ectronica!!*searate a&es are not a!wa*s used< an entit* t"en resents t"e a/o.e itemsto ensure t"at t"e information inc!uded in t"e financia! statements can /e

understood3

5+ An entit* often maes financia! statements more understanda/!e /* resentin&information in t"ousands !a"s mi!!ions or crores of units of t"e resentationcurrenc*3 T"is is acceta/!e as !on& as t"e entit* disc!oses t"e !e.e! ofroundin& and does not omit materia! information3

Ba$ance Sheet

In#or%ation to .e presented in the .a$ance sheet

: As a %ini%u%- the .a$ance sheet sha$$ inc$ude $ine ite%s that present the#o$$o+ing a%ounts3

(a) propert*- p$ant and euip%ent>

(.) in0est%ent propert*>

(c) intangi.$e assets>

(d) #inancia$ assets (e,c$uding a%ounts sho+n under (e)- (h) and (i))>

(e) in0est%ents accounted #or using the euit* %ethod>

(#) .io$ogica$ assets>

(g) in0entories>

(h) trade and other recei0a.$es>

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59 T"e use of different measurement /ases for different c!asses of assetssu&&ests t"at t"eir nature or function differs and t"erefore t"at an entit*resents t"em as searate !ine items3 For eam!e different c!asses ofroert* !ant and euiment can /e carried at cost or at re.a!ued amounts inaccordance wit" #nd A$ 163

Currentnoncurrent distinction

;= An entit* sha$$ present current and noncurrent assets- and current andnoncurrent $ia.i$ities- as separate c$assi#ications in its .a$ance sheet inaccordance +ith paragraphs ;;2; e,cept +hen a presentation .ased on$iuidit* pro0ides in#or%ation that is re$ia.$e and %ore re$e0ant hen thate,ception app$ies- an entit* sha$$ present a$$ assets and $ia.i$ities in ordero# $iuidit*

;1 hiche0er %ethod o# presentation is adopted- an entit* sha$$ disc$ose thea%ount e,pected to .e reco0ered or sett$ed a#ter %ore than t+e$0e

%onths #or each asset and $ia.i$it* $ine ite% that co%.ines a%ountse,pected to .e reco0ered or sett$ed3

(a) no %ore than t+e$0e %onths a#ter the reporting period- and

(.) %ore than t+e$0e %onths a#ter the reporting period

62 "en an entit* su!ies &oods or ser.ices wit"in a c!ear!* identifia/!e oeratin&c*c!e searate c!assification of current and non-current assets and !ia/i!ities int"e /a!ance s"eet ro.ides usefu! information /* distin&uis"in& t"e net assetst"at are continuous!* circu!atin& as worin& caita! from t"ose used in t"eentit*s !on&-term oerations3 #t a!so "i&"!i&"ts assets t"at are eected to /e

rea!ised wit"in t"e current oeratin& c*c!e and !ia/i!ities t"at are due forsett!ement wit"in t"e same eriod3

6+ For some entities suc" as financia! institutions a resentation of assets and!ia/i!ities in increasin& or decreasin& order of !iuidit* ro.ides information t"atis re!ia/!e and more re!e.ant t"an a currentnon-current resentation /ecauset"e entit* does not su!* &oods or ser.ices wit"in a c!ear!* identifia/!eoeratin& c*c!e3

64 #n a!*in& ara&ra" 60 an entit* is ermitted to resent some of its assetsand !ia/i!ities usin& a currentnon-current c!assification and ot"ers in order of!iuidit* w"en t"is ro.ides information t"at is re!ia/!e and more re!e.ant3 T"e

need for a mied /asis of resentation mi&"t arise w"en an entit* "as di.erseoerations3

65 #nformation a/out eected dates of rea!isation of assets and !ia/i!ities is usefu!in assessin& t"e !iuidit* and so!.enc* of an entit*3 #nd A$ 107 inancialInstruments +isclosures reuires disc!osure of t"e maturit* dates of financia!assets and financia! !ia/i!ities3 Financia! assets inc!ude trade and ot"errecei.a/!es and financia! !ia/i!ities inc!ude trade and ot"er a*a/!es3#nformation on t"e eected date of reco.er* of non-monetar* assets suc" asin.entories and eected date of sett!ement for !ia/i!ities suc" as ro.isions isa!so usefu! w"et"er assets and !ia/i!ities are c!assified as current or as non-current3 For eam!e an entit* disc!oses t"e amount of in.entories t"at areeected to /e reco.ered more t"an twe!.e mont"s after t"e reortin& eriod3

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Current assets

;; An entit* sha$$ c$assi#* an asset as current +hen3

(a) it e,pects to rea$ise the asset- or intends to se$$ or consu%e it- in itsnor%a$ operating c*c$e>

(.) it ho$ds the asset pri%ari$* #or the purpose o# trading>

(c) it e,pects to rea$ise the asset +ithin t+e$0e %onths a#ter the reportingperiod> or

(d) the asset is cash or a cash eui0a$ent (as de#ined in Ind AS 2) un$essthe asset is restricted #ro% .eing e,changed or used to sett$e a$ia.i$it* #or at $east t+e$0e %onths a#ter the reporting period

An entit* sha$$ c$assi#* a$$ other assets as noncurrent

67 T"is $tandard uses t"e term non-current to inc!ude tan&i/!e intan&i/!e andfinancia! assets of a !on&-term nature3 #t does not ro"i/it t"e use of a!ternati.edescritions as !on& as t"e meanin& is c!ear3

68 T"e oeratin& c*c!e of an entit* is t"e time /etween t"e acuisition of assets forrocessin& and t"eir rea!isation in cas" or cas" eui.a!ents3 "en t"e entit*snorma! oeratin& c*c!e is not c!ear!* identifia/!e it is assumed to /e twe!.emont"s3 'urrent assets inc!ude assets :suc" as in.entories and traderecei.a/!es; t"at are so!d consumed or rea!ised as art of t"e norma! oeratin&c*c!e e.en w"en t"e* are not eected to /e rea!ised wit"in twe!.e mont"s aftert"e reortin& eriod3 'urrent assets a!so inc!ude assets "e!d rimari!* for t"eurose of tradin& :eam!es inc!ude some financia! assets c!assified as "e!d

for tradin& in accordance wit" #nd A$ +9; and t"e current ortion of non-currentfinancia! assets3

Current $ia.i$ities

;9 An entit* sha$$ c$assi#* a $ia.i$it* as current +hen3

(a) it e,pects to sett$e the $ia.i$it* in its nor%a$ operating c*c$e>

(.) it ho$ds the $ia.i$it* pri%ari$* #or the purpose o# trading>

(c) the $ia.i$it* is due to .e sett$ed +ithin t+e$0e %onths a#ter thereporting period> or

(d) it does not ha0e an unconditiona$ right to de#er sett$e%ent o# the$ia.i$it* #or at $east t+e$0e %onths a#ter the reporting period (seeparagraph 28) Ter%s o# a $ia.i$it* that cou$d- at the option o# thecounterpart*- resu$t in its sett$e%ent .* the issue o# euit*instru%ents do not a##ect its c$assi#ication

An entit* sha$$ c$assi#* a$$ other $ia.i$ities as noncurrent

70 $ome current !ia/i!ities suc" as trade a*a/!es and some accrua!s forem!o*ee and ot"er oeratin& costs are art of t"e worin& caita! used in t"eentit*s norma! oeratin& c*c!e3 An entit* c!assifies suc" oeratin& items ascurrent !ia/i!ities e.en if t"e* are due to /e sett!ed more t"an twe!.e mont"safter t"e reortin& eriod3 T"e same norma! oeratin& c*c!e a!ies to t"e

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c!assification of an entit*s assets and !ia/i!ities3 "en t"e entit*s norma!oeratin& c*c!e is not c!ear!* identifia/!e it is assumed to /e twe!.e mont"s3

71 ,t"er current !ia/i!ities are not sett!ed as art of t"e norma! oeratin& c*c!e /utare due for sett!ement wit"in twe!.e mont"s after t"e reortin& eriod or "e!drimari!* for t"e urose of tradin&3 Dam!es are some financia! !ia/i!itiesc!assified as "e!d for tradin& in accordance wit" #nd A$ +9 /an o.erdrafts andt"e current ortion of non-current financia! !ia/i!ities di.idends a*a/!e incometaes and ot"er non-trade a*a/!es3 Financia! !ia/i!ities t"at ro.ide financin&on a !on&-term /asis :ie are not art of t"e worin& caita! used in t"e entit*snorma! oeratin& c*c!e; and are not due for sett!ement wit"in twe!.e mont"safter t"e reortin& eriod are non-current !ia/i!ities su/@ect to ara&ra"s 74and 753

72 An entit* c!assifies its financia! !ia/i!ities as current w"en t"e* are due to /esett!ed wit"in twe!.e mont"s after t"e reortin& eriod e.en if

:a; t"e ori&ina! term was for a eriod !on&er t"an twe!.e mont"s and

:/; an a&reement to refinance or to resc"edu!e a*ments on a !on&-term/asis is com!eted after t"e reortin& eriod and /efore t"e financia!statements are aro.ed for issue3

7+ #f an entit* eects and "as t"e discretion to refinance or ro!! o.er an o/!i&ationfor at !east twe!.e mont"s after t"e reortin& eriod under an eistin& !oanfaci!it* it c!assifies t"e o/!i&ation as non-current e.en if it wou!d ot"erwise /edue wit"in a s"orter eriod3 owe.er w"en refinancin& or ro!!in& o.er t"eo/!i&ation is not at t"e discretion of t"e entit* :for eam!e t"ere is noarran&ement for refinancin&; t"e entit* does not consider t"e otentia! torefinance t"e o/!i&ation and c!assifies t"e o/!i&ation as current3

74 "en an entit* /reac"es a ro.ision of a !on&-term !oan arran&ement on or/efore t"e end of t"e reortin& eriod wit" t"e effect t"at t"e !ia/i!it* /ecomesa*a/!e on demand it c!assifies t"e !ia/i!it* as current e.en if t"e !endera&reed after t"e reortin& eriod and /efore t"e aro.a! of t"e financia!statements for issue not to demand a*ment as a conseuence of t"e /reac"3An entit* c!assifies t"e !ia/i!it* as current /ecause at t"e end of t"e reortin&eriod it does not "a.e an unconditiona! ri&"t to defer its sett!ement for at !easttwe!.e mont"s after t"at date3

75 owe.er an entit* c!assifies t"e !ia/i!it* as non-current if t"e !ender a&reed /*t"e end of t"e reortin& eriod to ro.ide a eriod of &race endin& at !easttwe!.e mont"s after t"e reortin& eriod wit"in w"ic" t"e entit* can rectif* t"e/reac" and durin& w"ic" t"e !ender cannot demand immediate rea*ment3

76 #n resect of !oans c!assified as current !ia/i!ities if t"e fo!!owin& e.ents occur/etween t"e end of t"e reortin& eriod and t"e date t"e financia! statementsare aro.ed for issue t"ose e.ents are disc!osed as non-ad@ustin& e.ents inaccordance wit" #nd A$ 10 %vents a$ter the !eporting Period

:a; refinancin& on a !on&-term /asis

(ii) the nu%.er o# shares issued and #u$$* paid- and issued .ut not#u$$* paid>

(iii) par 0a$ue per share- or that the shares ha0e no par 0a$ue>

(i0) a reconci$iation o# the nu%.er o# shares outstanding at the.eginning and at the end o# the period>

(0) the rights- pre#erences and restrictions attaching to that c$assinc$uding restrictions on the distri.ution o# di0idends and therepa*%ent o# capita$>

(0i) shares in the entit* he$d .* the entit* or .* its su.sidiaries orassociates> and

(0ii) shares reser0ed #or issue under options and contracts #or the

sa$e o# shares- inc$uding ter%s and a%ounts> and (.) a description o# the nature and purpose o# each reser0e

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8 An entit* sha$$ disc$ose the #o$$o+ing ite%s in the state%ent o# pro#it and$oss as a$$ocations #or the period3

(a) pro#it or $oss #or the period attri.uta.$e to3

(i) noncontro$$ing interests- and(ii) o+ners o# the parent

(.) tota$ co%prehensi0e inco%e #or the period attri.uta.$e to3

(i) noncontro$$ing interests- and

(ii) o+ners o# the parent

?'e#er to Appendi, 1@

: An entit* sha$$ present additiona$ $ine ite%s- headings and su.tota$s in thestate%ent o# pro#it and $oss- +hen such presentation is re$e0ant to anunderstanding o# the entit*5s #inancia$ per#or%ance

86 (ecause t"e effects of an entit*s .arious acti.ities transactions and ot"ere.ents differ in freuenc* otentia! for &ain or !oss and redicta/i!it* disc!osin&t"e comonents of financia! erformance assists users in understandin& t"efinancia! erformance ac"ie.ed and in main& ro@ections of future financia!erformance3 An entit* inc!udes additiona! !ine items in t"e statement of rofitand !oss and it amends t"e descritions used and t"e orderin& of items w"ent"is is necessar* to e!ain t"e e!ements of financia! erformance3 An entit*considers factors inc!udin& materia!it* and t"e nature and function of t"e itemsof income and eense3 For eam!e a financia! institution ma* amend t"e

descritions to ro.ide information t"at is re!e.ant to t"e oerations of afinancia! institution3 An entit* does not offset income and eense items un!esst"e criteria in ara&ra" +2 are met3

2 An entit* sha$$ not present an* ite%s o# inco%e or e,pense ase,traordinar* ite%s- in the state%ent o# pro#it and $oss or in the notes

Pro#it or $oss #or the period

An entit* sha$$ recognise a$$ ite%s o# inco%e and e,pense in a period inpro#it or $oss un$ess an Ind AS reuires or per%its other+ise

89 $ome #nd A$s secif* circumstances w"en an entit* reco&nises articu!ar itemsoutside rofit or !oss in t"e current eriod3 #nd A$ 8 secifies two suc"circumstances t"e correction of errors and t"e effect of c"an&es in accountin&o!icies3 ,t"er #nd A$s reuire or ermit comonents of ot"er comre"ensi.eincome t"at meet t"e ramewor#s definition of income or eense to /eec!uded from rofit or !oss :see ara&ra" 7;3

Other co%prehensi0e inco%e #or the period

9= An entit* sha$$ disc$ose the a%ount o# inco%e ta, re$ating to eachco%ponent o# other co%prehensi0e inco%e- inc$uding rec$assi#icationad/ust%ents- either in the state%ent o# pro#it and $oss or in the notes

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:/; restructurin&s of t"e acti.ities of an entit* and re.ersa!s of an* ro.isionsfor t"e costs of restructurin&e.enue G,t"er income G'"an&es in in.entories of finis"ed &oods and worin ro&ress G>aw materia!s and consuma/!es used GDm!o*ee /enefits eense Gereciation and amortisation eense G,t"er eenses GTota! eenses :G;

Profit /efore ta G

10+ =>efer to Aendi 1?

104 =>efer to Aendi 1?3

105 =>efer to Aendi 1?3

State%ent o# changes in euit*

1=; An entit* sha$$ present a state%ent o# changes in euit* as a part o#.a$ance sheet as reuired .* paragraph 1= The state%ent o# changes in

euit* inc$udes the #o$$o+ing in#or%ation3

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(a) tota$ co%prehensi0e inco%e #or the period- sho+ing separate$* thetota$ a%ounts attri.uta.$e to o+ners o# the parent and to noncontro$$ing interests>

(.) #or each co%ponent o# euit*- the e##ects o# retrospecti0e app$icationor retrospecti0e restate%ent recognised in accordance +ith Ind AS >

(c) ?'e#er to Appendi, 1@

(d) #or each co%ponent o# euit*- a reconci$iation .et+een the carr*inga%ount at the .eginning and the end o# the period- separate$*disc$osing each changes resu$ting #ro%3

(i) pro#it or $oss>

(ii) each ite% o# other co%prehensi0e inco%e>

(iii) transactions +ith o+ners in their capacit* as o+ners- sho+ingseparate$* contri.utions .* and distri.utions to o+ners andchanges in o+nership interests in su.sidiaries that do not resu$t

in a $oss o# contro$> and (i0) an* ite% recognised direct$* in euit* such as a%ount

recognised direct$* in euit* as capita$ reser0e +ith paragraph8;A o# Ind AS 1=8

In#or%ation to .e presented in the state%ent o# changes in euit*+hich is a part o# the .a$ance sheet or in the notes

1=;A For each co%ponent o# euit* an entit* sha$$ present- either in thestate%ent o# changes in euit* or in the notes- an ana$*sis o# otherco%prehensi0e inco%e .* ite% (see paragraph 1=; (d) (ii))

1=2 An entit* sha$$ present- either in the state%ent o# changes in euit* or inthe notes- the a%ount o# di0idends recognised as distri.utions to o+nersduring the period- and the re$ated a%ount o# di0idends per share

108 #n ara&ra" 106 t"e comonents of euit* inc!ude for eam!e eac" c!assof contri/uted euit* t"e accumu!ated /a!ance of eac" c!ass of ot"ercomre"ensi.e income and retained earnin&s3

109 '"an&es in an entit*s euit* /etween t"e /e&innin& and t"e end of t"ereortin& eriod ref!ect t"e increase or decrease in its net assets durin& t"eeriod3 Dcet for c"an&es resu!tin& from transactions wit" owners in t"eircaacit* as owners :suc" as euit* contri/utions reacuisitions of t"e entit*sown euit* instruments and di.idends; and transaction costs direct!* re!ated tosuc" transactions t"e o.era!! c"an&e in euit* durin& a eriod reresents t"etota! amount of income and eense inc!udin& &ains and !osses &enerated /*t"e entit*s acti.ities durin& t"at eriod3

110 #nd A$ 8 reuires retrosecti.e ad@ustments to effect c"an&es in accountin&o!icies to t"e etent ractica/!e ecet w"en t"e transition ro.isions inanot"er #nd A$ reuire ot"erwise3 #nd A$ 8 a!so reuires restatements to

correct errors to /e made retrosecti.e!* to t"e etent ractica/!e3>etrosecti.e ad@ustments and retrosecti.e restatements are not c"an&es in

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euit* /ut t"e* are ad@ustments to t"e oenin& /a!ance of retained earnin&secet w"en an #nd A$ reuires retrosecti.e ad@ustment of anot"ercomonent of euit*3 Para&ra" 106:/; reuires disc!osure in t"e statement ofc"an&es in euit* of t"e tota! ad@ustment to eac" comonent of euit* resu!tin&from c"an&es in accountin& o!icies and searate!* from corrections oferrors3 T"ese ad@ustments are disc!osed for eac" rior eriod and t"e/e&innin& of t"e eriod3

State%ent o# cash #$o+s

111 'as" f!ow information ro.ides users of financia! statements wit" a /asis toassess t"e a/i!it* of t"e entit* to &enerate cas" and cas" eui.a!ents and t"eneeds of t"e entit* to uti!ise t"ose cas" f!ows3 #nd A$ 7 sets out reuirementsfor t"e resentation and disc!osure of cas" f!ow information3

otes

Structure

117 The notes sha$$3

(a) present in#or%ation a.out the .asis o# preparation o# the#inancia$ state%ents and the speci#ic accounting po$icies used inaccordance +ith paragraphs 11217>

(.) disc$ose the in#or%ation reuired .* Ind ASs that is notpresented e$se+here in the #inancia$ state%ents> and

(c) pro0ide in#or%ation that is not presented e$se+here in the#inancia$ state%ents- .ut is re$e0ant to an understanding o# an*o# the%

118 An entit* sha$$ present notes in a s*ste%atic %anner An entit* sha$$crossre#erence each ite% in the .a$ance sheet- in the state%ent o#changes in euit* +hich is a part o# the .a$ance sheet and in thestate%ent o# pro#it and $oss- and state%ent o# cash #$o+s to an* re$atedin#or%ation in the notes

114 An entit* norma!!* resents notes in t"e fo!!owin& order to assist users tounderstand t"e financia! statements and to comare t"em wit" financia!

statements of ot"er entities:a; statement of com!iance wit" #nd A$s :see ara&ra" 16;