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IAS 1Presentation of Financial Statements

IAS 1Chapter 2Lesson 2

Materiality, aggregation and offsetting

Step 1 of 9Learning objectives

Go deeper+1 point of attention

Material items are presented separately and immaterial items may be grouped; offsetting requires a standard.

30 minNot started

Learning objectives

  • Explain how materiality drives separate presentation or grouping.
  • Determine, for a case, whether dissimilar items may be grouped because they are immaterial.
  • Explain why offsetting is allowed only if a standard requires or permits it.
  • Calculate the net amount presented when offsetting is required or permitted.

In this lesson

Original teaching content: it paraphrases the standard without reproducing it and does not replace the official text.

Contents — IAS 1 — Presentation of Financial Statements

  1. 1 · Not startedPurpose of financial statements, fair presentation and compliance0 / 1 lesson
  2. 2 · Not startedGeneral features: going concern, accrual, materiality, offsetting, comparatives0 / 3 lessons
  3. 3 · Not startedStatement of financial position: minimum line items and current / non-current classification0 / 2 lessons
  4. 4 · Not started2020 and 2022 amendments: classification of liabilities and covenants0 / 2 lessons
  5. 5 · Not startedStatement of profit or loss and other comprehensive income0 / 2 lessons
  6. 6 · Not startedChanges in equity, notes, policies, judgements, estimates and capital0 / 2 lessons
  7. 7 · Not startedTransition to IFRS 180 / 1 lesson
  8. 8 · Not startedLinks with IAS 8, IAS 7 and IAS 330 / 1 lesson