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IND AS 1

This query is : Resolved 
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(Querist)
01 June 2020 As defined in 'complete set of financial statements comprises' one item includes ''balance sheet as at the beginning of the earliest comparative period when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements''......in this why balance sheet at ''beginning of the earliest comparative period'' is to be considered & why not ''end of period''
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
14 June 2020 This is because of RETROSPECTIVE EFFECT on the business transactions which might affect the past business financial and income statements.
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