Companies who are reporting under IFRS will have the choice to report current liabilities in a lower section of the Balance Sheet.

Question

Quizplus · Accepted Answer

Under IFRS, companies have the option to present their financial statements either by the nature of expense method or by function, and within the statement of financial position (balance sheet), they can choose the order of items, thus allowing the current liabilities to be reported in a lower section if that's the chosen presentation format.

Companies Who Are Reporting Under IFRS Will Have the Choice