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Section 1400 - General standards of financial statement presentation

Effective date:

January 1, 2011 except for subsequent amendments

Published by AcSB:

December 2009


Financial reporting is essentially a process of communication of information. While the success of this communication depends upon the appropriateness of the accounting principles followed and ultimately upon the degree of understanding by the readers of the financial statements, it also depends upon the extent and clarity of presentation and disclosure in the financial statements. This Section establishes general standards of financial statement presentation.

History of Section 1400






December 2009


Part II of the CPA  Canada Handbook  issued


Effective for fiscal years beginning on or after January 1, 2011.

April 2010


Minor amendments to address certain drafting issues.


Paragraph .16, has been amended to conform with the basis of presentation requirements set out in the Preface to the CPA Canada Handbook – Accounting and the Introduction to Part II.

October 2011


Annual improvements


Paragraph .11A, has been added to require an enterprise to:

  • present only one set of general purpose financial statements in any particular period; and
  • refer to its general purpose financial statements in any additional sets of financial statements.

October 2012


Annual improvements


Paragraph .19 has been added to eliminate an inconsistency with Section 1520 Income statement. Effective for fiscal years beginning on or after January 1, 2013.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.