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Zepler [3.9K]
3 years ago
13

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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