Investor Presentaiton
CAT
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
Disclosure Initiative - Amendments to LKAS 1
Materiality
■ The amendments clarify that an entity must not reduce the
understandability of its financial statements by obscuring
material information with immaterial information or by
aggregating material items that have different natures or
functions.
■ The amendments re-emphasise that, when a standard requires
a specific disclosure, the information must be assessed to
determine whether it is material and, consequently, whether
presentation or disclosure of that information is warranted.
(New para 30A & amend para 31)
CAT
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
Disclosure Initiative - Amendments to LKAS 1
Disaggregation and subtotals
☐ Clarify that specific line items in the statement(s) of profit or loss and OCI and
the statement of financial position may be disaggregated.
☐ Specify the presentation of additional subtotals, in the statement(s) of profit
or loss and OCI and the statement of financial position:
■
◉
Be comprised of line items made up of amounts recognised and measured
in accordance with SLFRS
Be presented and labelled in a manner that makes the line items that
constitute the subtotal clear and understandable
Be consistent from period to period
Not be displayed with more prominence than the subtotals and totals
currently required in SLFRS for the statement of financial position or the
statement(s) of profit or loss and OCI
For additional subtotals presented in the statement(s) of profit or loss and OCI,
an entity must also present the line items that reconcile any such subtotals
with the subtotals or totals currently required in SLFRS for such statement(s).
21
24View entire presentation