Minimum comparative information

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....d descriptive information if it is relevant to understanding the current period's financial statements. An entity shall present, as a minimum, * two balance sheets; (Current Year & Previous Year) * two statements of profit and loss, * two statements of cash flows and * two statements of changes in equity, and related notes. It means entity can present more than one previous year inform....

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.... This comparative information may consist of one or more statements but need not comprise a complete set of financial statements. When this is the case, the entity shall present related note information for those additional statements. For example, an entity may present a third statement of profit and loss (thereby presenting the current period, the preceding period and one additional comparative....

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....retrospective application, retrospective restatement or the reclassification has a material effect on the information in the balance sheet at the beginning of the preceding period. The date of that opening balance sheet shall be as at the beginning of the preceding period regardless of whether an entity's financial statements present comparative information for earlier periods. If an entity chan....