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Pas 1 SFP 1

This document discusses the classifications of assets and liabilities in the statement of financial position according to PAS 1. Current assets and noncurrent assets are classified separately according to PAS 1 paragraph 66. Property, plant and equipment are considered noncurrent assets per PAS 1 paragraph 6. Current liabilities and noncurrent liabilities are also classified separately according to PAS 1 paragraph 69.

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17 views

Pas 1 SFP 1

This document discusses the classifications of assets and liabilities in the statement of financial position according to PAS 1. Current assets and noncurrent assets are classified separately according to PAS 1 paragraph 66. Property, plant and equipment are considered noncurrent assets per PAS 1 paragraph 6. Current liabilities and noncurrent liabilities are also classified separately according to PAS 1 paragraph 69.

Uploaded by

gailmission
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Mission, Gail Kirsten M.

BSA 12KA2

Chapter 5 PAS 1

Presentation of Financial Statements – Statement of Financial Position

Classifications of Assets
o Currents Assets – PAS 1, paragraph 66
o Noncurrent Assets – PAS 1, paragraph 66
 PPE – PAS 1, paragraph 6

NCA CA
Classifications of Liability
o Current Liabilities – PAS 1, paragraph 69
o Noncurrent Liabilities – PAS 1, paragraph 69

CL NCL

CL

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