Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 44

Preparing Financial Statements in a Typical European Format
Refer to C5-2.
Required:
1. Prepare a comparative classified statement of financial position, as typically presented using IFRS.
2. Prepare a comparative statement of comprehensive income.
TIP: Use Exhibit 5.7 as a guide, except group expenses by nature (e.g., salaries and wages, rent, etc.) as outlined in Exhibit 5.11.