Significant changes to the presentation of financial statements (Primary Financial Statements Project) are currently being developed by the IASB. Which of the following best describes the focus of the changes?
A) to better highlight the company's assets, liabilities and equity
B) to segregate the company's operating, financing and investing activities
C) to highlight the company's major business and financing activities
D) to increase the number of notes to be attached to financial statements

Question

Quizplus · Accepted Answer

The focus of the changes is to highlight the company's major business and financing activities, which aligns with choice C. The changes aim to provide more relevant and comparable information that will help users of financial statements make better decisions. The changes do not necessarily increase the number of notes to be attached to financial statements, nor do they aim to better highlight assets, liabilities, and equity separately or segregate operating, financing, and investing activities.

Significant Changes to the Presentation of Financial Statements (Primary Financial