Indian Accounting Standards(Ind AS) 1

equity but they are adjustments to the opening balance of retained earnings,
except when an Ind AS requires retrospective adjustment of another
component of equity. Paragraph 106(b) requires disclosure in the statement of
changes in equity of the total adjustment to each component of equity resulting
from changes in accounting policies and, separately, from corrections of
errors. These adjustments are disclosed for each prior period and the
beginning of the period.
Statement of cash flows
111 Cash flow information provides users of financial statements with a basis to
assess the ability of the entity to generate cash and cash equivalents and the
needs of the entity to utilise those cash flows. Ind AS 7 sets out requirements
for the presentation and disclosure of cash flow information.
Notes
Structure
112 The notes shall:
(a) present information about the basis of preparation of the
financial statements and the specific accounting policies used in
accordance with paragraphs 117–124;
(b) disclose the information required by Ind ASs that is not
presented elsewhere in the financial statements; and
(c) provide information that is not presented elsewhere in the
financial statements, but is relevant to an understanding of any
of them.
113 An entity shall present notes in a systematic manner. An entity shall
cross-reference each item in the balance sheet, in the statement of
changes in equity which is a part of the balance sheet and in the
statement of profit and loss, and statement of cash flows to any related
information in the notes.
114 An entity normally presents notes in the following order, to assist users to
understand the financial statements and to compare them with financial
statements of other entities:
(a) statement of compliance with Ind ASs (see paragraph 16);
(b) summary of significant accounting policies applied (see paragraph
117);
(c) supporting information for items presented in the balance sheet, in
the statement of changes in equity which is a part of the balance
sheet, in the statement of profit and loss, and statement cash flows, in
the order in which each statement and each line item is presented;
and
(d) other disclosures, including:
(i) contingent liabilities (see Ind AS 37) and unrecognised
contractual commitments, and
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