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Hi,
Does IAS 1 require the assets to be reported in the liquidity order? I thought it only pointed out the minimum items to be reported and it would be up to the company to arrange the order? Thank you.
Hi baobaohui521,
Apologies I know this is not related to your question, however unsure of how else to connect. I am also studying the FA paper and wanted to know if you would like to be study buddies?
My email address is sbam11091@gmail.com, I plan to sit the exam next week no and it would be great to bounce ideas off another student
Yes mrjonbain. I have seen people mentioning least liquid to most liquid OR most liquid to least liquid, but I don’t see the standard mentioning it anyhow.
Hi sm8980, sorry, I have actually completed the FA paper but still coming back to the forum to ask questions 🙂 Hopefully, someone else may see your message and get back to you! Good luck with your exam!
I mentioned this because I believe it is/was generally accepted accounting practice to list from least liquid to most liquid. However, I agree, this is nowhere in the standard. I believe it allows a range of formats within fairly general bounds.
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