IFRS for SMEs / Third edition changes / Section 4 in the third edition: disaggregating line items
Section 4 in the third edition: disaggregating line items
The statement of financial position presents additional line items, headings and subtotals, and splits items further when that is relevant to understanding the entity's position.
What changes
- 4.3 Line items are disaggregated when the split is relevant to understanding the financial position.
What to prepare
- Look for large balances presented as one line that combine items of a different nature, such as trade and other receivables that hold a material loan.
How Sight handles it
Each account's taxonomy leaf decides its line, so a balance that needs its own line can be moved to a more specific leaf without re-mapping the statements.
Section 4: Statement of Financial Position: the section in full.
Other third-edition changes
- Section 2 in the third edition: concepts and pervasive principles
- Section 3 in the third edition: material accounting policy information
- Section 6 in the third edition: dividends declared after year end
- Section 7 in the third edition: financing liabilities and supplier finance
- Section 8 in the third edition: material policies and judgements
- Section 11 in the third edition: one section for financial instruments, ageing and maturity
- Section 12 in the third edition: the new fair value section
- Section 19 in the third edition: business combinations
- Section 23 in the third edition: the five-step revenue model
- Section 29 in the third edition: uncertain tax treatments
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