Investor Presentaiton
CA Immaterial information:
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
If transactions, events or conditions are material they must be
presented or disclosed in the financial statements (and recognised
and measured in accordance with IFRS if appropriate).
When a transaction, event or condition is not material, it does not
mean that it should not be recorded in the financial system, but it
means instead that it would not be necessary to separately provide
information about it in the financial statements.
■ Moreover, providing too much immaterial information can obscure
useful information and consequently mean that the financial
statements are less understandable.
CA T
THE INSTITUTE OF
CHARTERED ACCOUNTANTS OF SRI LANKA
Aggregation of information
•
If a line item on the face of the statements is not
individually material, it can be aggregated with other
items.
Eg: an entity may decide to combine all of its financial
assets measured at fair value together in one line
item on the face of the statement of financial
position, if separate presentation is not considered
material.
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