Under paragraph 4, if an entity presents both consolidated and separate financial statements, the AASB 133 disclosures need only be determined on the basis of:

Question

Quizplus · Accepted Answer

When an entity presents both consolidated and separate financial statements, the disclosures required by AASB 133 should be based on the consolidated information only. This is because the disclosures in AASB 133 are aimed at providing detailed information about the risk exposures arising from financial instruments held by the consolidated entity. Therefore, considering only the parent entity or subsidiary entities may not provide a true and fair view of the entity's financial position and performance.

Under Paragraph 4, If an Entity Presents Both Consolidated and Separate