Aggregation of similar items

Learning objectives

• Assess whether items of a similar nature may be disclosed in aggregate or must be disclosed separately (no threshold is set).L3, L4

Normative references

• IAS 24 §24Items of a similar nature may be disclosed in aggregate, except when separate disclosure is necessary for an understanding of the effects of related party transactions on the financial statements.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• During the year, Cormier SA made about 80 routine sales of components to its 12 subsidiaries, of about 50,000 each, and the one-off sale of its head office to one of them for 4,500,000. The finance director proposes to disclose a single amount of "sales to subsidiaries". Write a note concluding on aggregation, separating case facts, rule and judgement.L4