Section PS 2100 - Disclosure of accounting policies
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Effective date: |
September 1, 1983 |
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Published by the PSAB: |
September 1983 |
Overview
This Section establishes disclosure standards on the accounting policies adopted by an entity in the preparation and presentation of its financial statements. A clear and concise description of all significant accounting policies of a reporting entity should be included as an integral part of its financial statements.
Appropriate accounting policies are those that result in fair disclosure of financial information. It is important that accounting policies be selected to meet this objective. There are a number of general considerations involved in this selection, including prudence, substance over form and materiality.
History of Section PS 2100
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Date |
Development |
Comments |
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September 1983 |
New Section |
This Section relates to disclosure of the accounting policies adopted by the entity. The accounting policies are the specific accounting principles used by a reporting entity and the methods for applying those principles. |
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January 2003 and February 2005 |
Editorial change |
Editorial change to paragraph 9(c). |
Note: The above summary does not include details of consequential amendments made as the result of other projects.