DFS Changes!!

aimeexox Registered Posts: 38 Regular contributor ⭐
Hello everyone...

I recently saw that the statement of financial position for DFS has changed and it is now assets then equity then liabilities..

Have there been any changes to the cash flow statements or anything else.. and can anyone explain them to me!!!! I find any books or any examples on the changes. Thanks


  • Jimmyboy1888
    Jimmyboy1888 Registered Posts: 32 Regular contributor ⭐
    Look at the thread named DFS. SDV has posted a helpful PDF file on all the changes.
  • Clare Finch
    Clare Finch Registered Posts: 40 Regular contributor ⭐
    Hi there,

    The only recent changes to IAS 7 are to change its title from Cashflow statements to Statements of cash flow! The format of the SOFP is actually just the AAT adopting the proper format from IAS 1. They traditionally have been using a sort of UK/IFRS 'hybrid'.

    If you are using my book 'A student's guide to IFRS' the correct format is used throughout...

    It is my opinion easier that the old 'hybrid' style.

    IAS 1 has always presented a SOFP with all the debits in the top (assets) and all the credits in the botton (equity and liabilities). So it is not a new format per se, but newly adopted by the AAT.

    Remember you do get the pro forma though..

    The other key change is that Minority Interest has been renamed Non-controlling interest for the Consolidated SOFP and Consolidated I/S. This is due to a recent revision to IFRS 3 'Business Combinations'.

    Hope that helps and good luck with DFS.

Privacy Policy