A STRUCTURED APPROACH TO THE STUDY OF FINANCIAL STATEMENT INFORMATION

Abstract

This article presents a systematic approach to the study of financial statements prepared in IFRS format. The structure of financial statements is presented, the knowledge of which will allow the stakeholder to quickly navigate in a multi-page document. A breakdown of IFRS into groups is presented, in accordance with which standards are identified that determine: the structure and content of reporting; principles of formation of consolidated reporting; recognition criteria and valuation of assets, liabilities, capital, revenue and expenses; other disclosures in the notes. The tables clearly show the correspondence between the lines of the statement of financial position, statement of profit and loss and other comprehensive income, and one or another IFRS standard. The sequence of finding sections is given, which is recommended to be followed when reading statements prepared in IFRS format. An example of information search in reporting is considered.