Balance sheets prepared under IFRS often report long-term items before current items.

Name: Balance sheets prepared under IFRS often report long-term items before current items.
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Under IFRS, the presentation of balance sheet items is typically in order of liquidity, but long-term items may be reported before current items depending on their materiality and nature. This is different from U.S. GAAP, where current items are typically reported before long-term items.

Balance Sheets Prepared Under IFRS Often Report Long-Term Items Before