Русско-англо-русский юридический словарь

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. (Independent Auditor’s Report for Pan American Silver Corp. by Deloitte, http://panamericansilver.com/annualreport2014/financial-statements/independent-auditors-report/)

Management is responsible for the preparation of financial statements that give a true and fair view in accordance with International Financial Reporting Standards and the Jamaican Companies Act, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. (jnfunds.com)

For example, under International Financial Reporting Standards (IFRS), firms are now required to present a Statement of Comprehensive Income which has replaced the traditional income statement. The Statement of Comprehensive Income includes all non-owner changes in shareholders’ equity during the reporting period. (ft.com)

You should defer expenses when generally accepted accounting principles or international financial reporting standards require that they be included in the cost of a long-term asset, and then charged to expense over a long period of time. For example, you may have to include the cost of interest in the cost of a constructed asset, such as a building, and then charge the cost of the building to expense over the useful life of the entire asset in the form of depreciation. In this case, the cost of the interest is a deferred expense. (accountingtools.com)