Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p22
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 57811–60589

shall classify all assets other than those specified in paragraph 99 as non-current.

Current liabilities
101 An entity shall classify a liability as current when:
(a) it expects to settle the liability in its normal operating cycle (see paragraphs B96 and B107–B108);
(b) it holds the liability primarily for the purpose of trading (see paragraph B97);
(c) the liability is due to be settled within 12 months after the reporting period (see paragraphs B97–B98 and B107–B108); or
(d) it does not have the right at the end of the reporting period to defer settlement of the liability for at least 12 months after the reporting period (see paragraphs B99–B108).
102 An entity shall classify all liabilities other than those specified in paragraph 101 as non-current.

Items to be presented in the statement of financial position or disclosed in the notes
103 An entity shall present in the statement of financial position line items for:
(a) property, plant and equipment;
(b) investment property;
(c) intangible assets;
(d) goodwill;
(e) financial assets (excluding amounts shown under (g), (j) and (k));
(f) portfolios of contracts within the scope of AASB 17 that are assets, disaggregated as required by paragraph 78 of AASB 17;
(g) investments accounted for using the equity method;
(h) biological assets within the scope of AASB 141 Agriculture;
(i) inventories;
(j) trade and other receivables;
(k) cash and cash equivalents;
(l) the total of assets classified as held for sale and assets included in disposal groups classified as held for sale in accordance with AASB 5;
(m) trade and other payables;
(n) provisions;
(o) financial liabilities (excluding amounts shown under (m) and (n));
(p) portfolios of contracts within the scope of AASB 17 that are liabilities, disaggregated as required by paragraph 78 of AASB 17;
(q) liabilities and assets for current tax, as defined in AASB 112;
(r) deferred tax liabilities and deferred tax assets, as defined in AASB 112; and
(s) liabilities included in disposal groups classified as held for sale in accordance with AASB 5.
104 An entity shall present in the statement of financial position:
(a) non-controlling interests; and
(b) issued capital and reserves attributable to owners of the parent.
105 Paragraphs B109–B111 set out requirements on how an entity uses its judgement to determine whether to present additional line items in the statement of financial position or disclose items in the notes.
106 Subject to paragraph 96, this Standard does not prescribe the order or format in which an entity presents items in the statement of financial position. In addition, 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,