Document ID: chunk:federal_register_of_legislation:F2024L00708:body:0:p59
Version: federal_register_of_legislation:F2024L00708
Segment Type: other
Provision Reference: 
Character Range: 157339–160377

current or non-current if, applying AASB 132, the entity classifies the option as an equity instrument, recognising it separately from the liability as an equity component of a compound financial instrument.

Items to be presented in the statement of financial position or disclosed in the notes
B109 Paragraphs 24 and 41(c) require an entity to present additional line items in the statement of financial position if doing so is necessary to provide a useful structured summary of the entity's assets, liabilities and equity. An entity uses its judgement to make this determination (including whether it is necessary to disaggregate the line items listed in paragraph 103). Paragraph 41 requires the entity to base its judgements on an assessment of whether the items have characteristics that are shared (similar characteristics) or characteristics that are not shared (dissimilar characteristics). For additional line items for assets and liabilities, an entity bases its judgements on an assessment of the nature or function of the assets or liabilities. The characteristics listed in paragraphs B110(c)–(k) might assist an entity in identifying the nature or function of assets and liabilities.
B110 Paragraphs 20 and 41(d) require an entity to disaggregate items to disclose material information in the notes. An entity uses its judgement to do this based on an assessment of whether the items have characteristics that are shared (similar characteristics) or characteristics that are not shared (dissimilar characteristics). Such characteristics include:
(a) nature;
(b) function (role) in the entity's business activities;
(c) duration and timing of recovery or settlement (including whether an asset or liability is classified as current or non-current or whether its recovery or settlement forms part of the entity's operating cycle);
(d) liquidity;
(e) measurement basis;
(f) measurement uncertainty or outcome uncertainty (or other risks associated with an item);
(g) size;
(h) geographical location or regulatory environment;
(i) type, for example, the type of good, service or customer;
(j) tax effects – for example, if assets or liabilities have different tax bases; and
(k) restrictions on the use of an asset or on the transferability of a liability.
B111 Assets, liabilities and items of equity that might have sufficiently dissimilar characteristics that presentation in the statement of financial position is necessary to provide a useful structured summary or disclosure in the notes is necessary to provide material information include:
(a) property, plant and equipment disaggregated into classes in accordance with AASB 116;
(b) receivables disaggregated into amounts receivable from trade customers, amounts receivable from related parties, prepayments and other amounts;
(c) inventories disaggregated, applying AASB 102, into items such as merchandise, production supplies, materials, work in progress and finished goods;
(d) trade payables disaggregated, applying AASB 107, to provide separately the amounts of