IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

Chapter 3 / Presentation of Financial Statements (lAS I )

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7.3 Balance Sheet 7.3.1

Current and noncurrent assets and liabilities should be classified separatel y on the face of the balance sheet except in circumstances when a liquidity-based presen tation provides more reliable and relevant information. 7.3 .2 Current asse ts. A current asset is one that is likely to be realized within the normal operating cycle or 12 months after balance sheet date, held for trading purposes, or is cash or cash equivalent. All other assets are noncurrent. 7.3 .3 Cur rent liabilities. A current liability is one that is likely to be settled within the normal operating cycle or 12 months after balance sheet date, held for trading purposes, or there is no unconditional right to defer settlement for at least 12 months after balance sheet date. All other liabilities are noncurrent. 7.3.4 The minimum line items that should be included in the balance sheet are (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 G) Trade and other payables (k) Provisions (I) Financial liabilitie s [excluding amounts shown under G) and (k)] (m) Liabilities and assets for current tax (n) Deferred tax liabilities and deferred tax assets (0) Minority interest, presented within equi ty (p) Issued capital and reserves attributable to equity holders of the parent

7.3.5 Deferred tax assets (liabilities) cannot be classified as current assets (liabilities). Additional line items are disclosed only if disclosure is relevant for further insight. Subclass ifications of line items are requ ired to be disclosed in either the balance sheet or the notes. Other such disclosures include • Numbers of shares authorized, issued and fully paid, and issued but not fully paid • Par value • Reconciliation of shares outstanding at the beginning and the end of the period • Description of rights, preferences, and restrictions • Treasury shares, including shares held by subsidiaries and associates • Shares reserved for issuance under options and contracts • Description of the nature and purpose of each reserve within owners' equity • Nature and purpose of each reserve Equivalent information would be disclosed by entities without share capital.