AASB 101 Presentation of Financial Statements

Materiality, offsetting, frequency and comparatives – AASB 101 Presentation of Financial Statements

AASB 101 Presentation of Financial Statements 29-30: Keep materiality and aggregation disciplined

What does 29-30 require?

Items that are alike and material enough to matter on their own are shown as their own line; items that are different in nature or function are kept apart from each other unless they are too small to matter, rather than being folded together for convenience.

Maintained by Gerard Blokdyk

Other controls in Materiality, offsetting, frequency and comparatives – AASB 101 Presentation of Financial Statements

32-33 Do not offset unless a standard allows or requires it
34 Report at least once a year, and flag any change in that cycle
36-38 Carry at least one full prior period of comparatives
40A-40D Add a third statement of financial position after a retrospective change
41-45 Keep presentation and classification consistent, and label statements clearly

Query this from an agent

The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.

MCP endpoint All AASB 101 Presentation of Financial Statements controls