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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Difference between assertion of classification and presentation?
Sir can you help to determine the difference between classification and presentation? I can’t really get clear but from them.
Thank you
See page 83:
Classification – in the proper accounts e.g. proper classification between revenue expense and capital expense – does not concern disclosure
Presentation – in the financial statements – includes related disclosure
Incorrect classification may give rise to incorrect presentation (e.g. as above) but presentation is wider – not only because it includes disclosure but also appropriate aggregation/disaggregation