Q Which of the following are required in a complete set of IFRS-compliant financial statements? a Select the three best responses and then click Submit. Directors' report Management's risk analysis report Comparative information in respect of the preceding period Comparative information in respect of the current and preceding period Notes, comprising significant accounting policies and other explanatory information A statement of financial position as at the beginning of the preceding period when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements Submit Which of the following would an investor be able to find out from financial statements prepared in accordance with IAS 1? Select the best response, and then click Submit. The financial position and results of the entity over the past two years Management's prediction of the expected cash flows over the next two years Management's prediction of the expected annuity income of the entity over the next two years The ratio of expected annuity income to non-recurring income over the next two years Select the statements that are true in terms of IAS 1. Select the two best responses and then click Submit Each material class of similar items should be presented separately in the financial statements. An entity shall prepare its financial statements under the accrual basis of accounting, except for the cash flow statement and related notes The presentation and classification of items in the financial statements shall be retained from one period to the next unless management decides that it is unreasonable in terms of cost and effort. Comparative information for the preceding period only needs to be disclosed of management believes that it will add to the users' understanding of the financial statements