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Commission Regulation (EC) No
2238/2004 of 29 December 2004 amending Regulation (EC) No 1725/2003
adopting certain international accounting standards in accordance
with Regulation (EC) No 1606/2002 of the European Parliament and of
the Council, as regards IASs IFRS 1, IASs Nos 1 to 10, 12 to 17, 19
to 24, 27 to 38, 40 and 41 and SIC Nos 1 to 7, 11 to 14, 18 to 27
and 30 to 33
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Information to be
Presented on the Face of the Balance Sheet
68. As a
minimum, the face of the balance sheet shall include
line items that present the following amounts to the
extent that they are not presented in accordance with
paragraph 68A:
(a) property, plant
and equipment;
(b) investment
property;
(c) intangible
assets;
(d) financial assets
(excluding amounts shown under (e), (h) and (i));
(e) investments
accounted for using the equity method;
(f) biological
assets;
(g) inventories;
(h) trade and other
receivables;
(i) cash and cash
equivalents;
(j) trade and other
payables;
(k) provisions;
(l) financial
liabilities (excluding amounts shown under (j) and
(k));
(m) liabilities and
assets for current tax, as defined in IAS 12 Income
Taxes;
(n) deferred tax
liabilities and deferred tax assets, as defined in
IAS
12;
(o) minority
interest, presented within equity; and
(p) issued capital
and reserves attributable to equity holders of the
parent.
68A. The face of the balance sheet
shall also include line items that present the following
amounts:
(a) the total of assets
classified as held for sale and assets included in
disposal groups classified as held for sale in
accordance with IFRS 5 Non-current Assets Held for
Sale and Discontinued Operations; and
(b) liabilities included in
disposal groups classified as held for sale in
accordance with IFRS 5.
69. Additional line
items, headings and subtotals shall be presented on the
face of the balance sheet when such presentation is relevant
to an understanding of the entity’s financial
position.
70. When an entity
presents current and non-current assets, and current
and non-current liabilities, as separate classifications on
the face of its balance sheet, it shall not
classify deferred tax assets (liabilities) as
current assets (liabilities).
71. This Standard
does not prescribe the order or format in which items are to
be presented. Paragraph 68 simply provides a list of items
that are sufficiently different in nature or function to
warrant separate presentation on the face of the balance sheet.
In addition:
(a) line items are
included when the size, nature or function of an item or
aggregation of similar items is such that separate
presentation is relevant to an understanding of the entity’s
financial position; and
(b) the descriptions
used and the ordering of items or aggregation of similar items
may be amended according to the nature of the entity and its
transactions, to provide information that is relevant to an
understanding of the entity’s financial position. For
example, a bank amends the above descriptions to apply the
more specific requirements in IAS 30.
72. The judgement on
whether additional items are presented separately is based on
an assessment of:
(a) the nature and
liquidity of assets;
(b) the function of
assets within the entity; and
(c) the amounts,
nature and timing of liabilities.
73. The use of
different measurement bases for different classes of assets
suggests that their nature or function differs and, therefore,
that they should be presented as separate line items. For
example, different classes of property, plant and equipment
can be carried at cost or revalued amounts in accordance with
IAS 16 Property, Plant and Equipment.
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