Companies that use IFRS:

Social Studies

1 answer:

Oxana [17]3 years ago

6 0

Answer:

<h3>(c) may report non-current assets before current assets on the statement of financial position.</h3>

Explanation:

International Financial Reporting Standards (IFRS) are a set of rules controlled and issued by International Accounting Standards Board (IASB) to regulate and maintain efficiency and transparency in financial statements throughout the globe.
According to IFRS, non-current assets are those assets which are expected to be recovered only after 12 months or more after the statement of financial position is reported.
Furthermore, the taxonomy of IFRS provides that companies may report non-current assets before current assets on the statement of financial position.

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