CERTYNEX IFRS ACADEMY

A trainee summarises the requirements of IAS 1 on the statement of financial position of Argan SA. Which of the trainee's sentences is wrong?

Argan presents separately assets and liabilities of sufficiently different nature or function.

Argan may not present a subtotal that does not appear in the standard's minimum list of line items.

Argan adds a line item, heading or subtotal when relevant to understanding its financial position.

Argan chooses the order and format of its line items, the standard prescribing neither.