Document ID: chunk:federal_register_of_legislation:F2025C00209:front:0:p11
Version: federal_register_of_legislation:F2025C00209
Segment Type: other
Provision Reference: 
Character Range: 30748–34242

recognising it separately from the liability as an equity component of a compound financial instrument.

Sequencing of items and format of items in the statement of financial position
      1.                     This Standard does not prescribe the sequence or format in which items are to be presented. Paragraph 35 simply provides a list of items that are sufficiently different in nature or function to warrant separate presentation in the statement of financial position. In addition:
           1.                     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
           2.                    the descriptions used and the sequencing 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.
          [IFRS for SMEs Standard paragraph 4.9]

      1.                     The judgement on whether additional items are presented separately is based on an assessment of all of the following:
           1.                     the amounts, nature and liquidity of assets;
           2.                    the function of assets within the entity; and
           3.                     the amounts, nature and timing of liabilities.
          [IFRS for SMEs Standard paragraph 4.10]

Information to be presented either in the statement of financial position or in the notes
      1.                     An entity shall disclose, either in the statement of financial position or in the notes, further subclassifications of the line items presented, classified in a manner appropriate to the entity's operation. This includes for example:
           1.                     property, plant and equipment in classifications appropriate to the entity;
           2.                    trade and other receivables showing separately amounts due from related parties, amounts due from other parties and contract assets from contracts with customers;
           3.                     inventories, showing separately amounts of inventories:
                1.                      held for sale in the ordinary course of business;
                2.                    in the process of production for such sale; and
                3.                  in the form of materials or supplies to be consumed in the production process or in the rendering of services.
           1.                    trade and other payables, showing separately amounts payable to trade suppliers, amounts payable to related parties, contract liabilities from contracts with customers and accruals;
           2.                     provisions for employee benefits and other provisions; and
           3.                     classes of equity, such as paid-in capital, share premium, retained earnings and items of income and expense that, as required by Australian Accounting Standards, are recognised in other comprehensive income and presented separately in equity.
          [Based on IFRS for SMEs Standard paragraph 4.11]

      1.                     An entity with share capital shall disclose the following, either in the statement of financial position or in the notes:
           1.                     for each class of share capital:
                1.                      the number of