To comply with AASB 101,in which section of the financial report should a summary of accounting policies adopted by reporting entities be positioned?

Question

Quizplus · Accepted Answer

According to AASB 101, the summary of accounting policies adopted by a reporting entity should be presented in the initial section of the notes to the accounts. This ensures that users of the financial statements have access to the information they need to understand the accounting policies that have been applied in preparing the financial report. Therefore, option C is the correct choice.

To Comply with AASB 101,in Which Section of the Financial