| 3.17 | A complete set of financial statements of an entity shall include all of the following: |
| (a) | a statement of financial position as at the reporting date; |
| (b) | either: |
| (i) | a single statement of comprehensive income for the reporting period displaying all items of income and expense recognised during the period including those items recognised in determining profit or loss (which is a subtotal in the statement of comprehensive income) and items of other comprehensive income; or [AMD 215] |
| (ii) | a separate income statement and a separate statement of comprehensive income. If an entity chooses to present both an income statement and a statement of comprehensive income, the statement of comprehensive income begins with profit or loss and then displays the items of other comprehensive income; |
| (c) | a statement of changes in equity for the reporting period; |
| (d) | a statement of cash flows for the reporting period; and |
| (e) | notes, comprising significant accounting policies and other explanatory information. [AMD 216] |
| 3.18 | If the only changes to equity during the periods for which financial statements are presented arise from profit or loss, payment of dividends, corrections of prior period errors, and changes in accounting policy, the entity may present a single statement of income and retained earnings in place of the statement of comprehensive income and statement of changes in equity (see paragraph 6.4). |
| 3.19 | If an entity has no items of other comprehensive income in any of the periods for which financial statements are presented, it may present only an income statement, or it may present a statement of comprehensive income in which the 'bottom line' is labelled 'profit or loss'. |
| 3.20 | Because paragraph 3.14 requires comparative amounts in respect of the previous period for all amounts presented in the financial statements, a complete set of financial statements means that an entity shall present, as a minimum, two of each of the required financial statements and related notes. |
| 3.21 | In a complete set of financial statements, an entity shall present each financial statement with equal prominence. |
| 3.22 | An entity may use titles for the financial statements other than those used in this FRS as long as they are not misleading. |
| AMD 215 Amendment Paragraph 3.17(b)(i) amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text (i) a single statement of comprehensive income for the reporting period displaying all items of income and expense recognised during the period including those items recognised in determining profit or loss (which is a subtotal in the statement of comprehensive income) and items of other comprehensive income; or |
| AMD 216 Amendment Paragraph 3.17(d)-(e) amended by Amendments to FRS 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland – Triennial review 2017 – Incremental improvements and clarifications (issued December 2017) Effective date 01/01/2019 Previous text (d) a statement of cash flows for the reporting period; and (e) notes, comprising a summary of significant accounting policies and other explanatory information. |
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