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.
ACCA Forums
FAReporting assets in liquidity order?
Do you mean in terms of listing from least liquid to most liquid?
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.
Thank you for replying baobaohui521 =)
Much appreciated
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