Under IFRS, an overdraft in a cash account at one bank can be offset against a positive balance in the account at another bank for purposes of reporting cash on the company's balance sheet.

Question

Quizplus · Accepted Answer

Under IFRS, cash and cash equivalents are presented on the balance sheet as a single line item. An overdraft in a cash account at one bank can be offset against a positive balance in the account at another bank for purposes of reporting cash on the company's balance sheet.

Under IFRS, an Overdraft in a Cash Account at One