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

AASB 101 Presentation of Financial Statements 32-33: Do not offset unless a standard allows or requires it

What does 32-33 require?

Figures on either side of the ledger, assets against liabilities, income against expenses, are shown gross rather than netted off, unless some other accounting standard specifically permits or calls for the netting.

Maintained by Gerard Blokdyk

What else in your programme already covers this

This control maps to 1 controls across 1 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.

AASB 107 Statement of Cash Flows · 1 control

  • 22-24 Report on a net basis only customer-driven flows, quick-turnover large short-maturity items, and the deposit and lending flows of a financial institution

Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.

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

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