IND AS 1
This query is : Resolved
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''
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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