Information to be Presented on the Face of the Statement of financial position (balance sheet)

As a minimum, the face of the statement of financial position shall include line items that present the following amounts:
(i) property, plant and equipment;
(ii) investment property;
(iii) intangible assets;
(iv) financial assets (excluding amounts shown under (v), (viii) and (ix));
(v) investments, accounted for using the equity method;
(vi) biological assets;
(vii) inventories;
(viii) trade and other receivables;
(ix) cash and cash equivalents;

(x) the total of assets classified as held for sale and assets included in
disposal groups classified as held for sale in accordance with IFRS 5 (see below)
(xi) trade and other payables;
(xii) provisions;
(xiii) financial liabilities (excluding amounts shown under (x) and (xi));
(xiv) liabilities and assets for current tax (as defined in IAS 12 Income Taxes);
(xv) deferred tax liabilities and deferred tax assets (as defined in IAS 12);
(xvi) minority interest, presented within equity; and
(xvii) issued capital, and reserves attributable to equity holders of the parent.

The face of the statement of financial position shall include line items that present the following amounts:

i. the total of assets classified as held for sale and assets included in disposal groups classified as held for sale in accordance with IFRS 5; and
ii. liabilities included in disposal groups classified as held for sale in accordance with IFRS 5.

Additional line items, headings and subtotals shall be presented on the face of the statement of financial position, when such presentation is relevant to an understanding of the financial position.

EXAMPLE –tax losses
You have large tax losses carried forward in your home country, but tax liabilities abroad. You chose to expand the tax liability lines to show both local tax (none) and foreign tax to clarify the position.

Deferred tax assets (and liabilities) are always non-current assets (liabilities).
Line items are included when the size, nature or function of an item (or aggregation of similar items) is such that separate presentation is relevant to an understanding of the financial position.
The descriptions used, and the ordering of items (or aggregation of similar items) may be amended according to the nature of the undertaking, and its transactions, to provide information that is relevant to an understanding of the financial position.
For example, a bank amends the above descriptions to apply the requirements in IFRS 7.

The judgement on whether additional items are presented separately is based on an assessment of:
(i) the nature and liquidity of assets;
(ii) the function of assets; and
(iii) the amounts, nature and timing of liabilities.

EXAMPLE-assets categorised by function
You lease photocopiers and drinks machines. Identifying the results and
net assets (assets and liabilities) employed by each function of the business helps users.

The use of different measurement bases, for different classes of assets, suggests that their nature (or function) differs and, therefore, that they should be presented as separate line items.

Different classes of property, plant and equipment can be carried at cost, or revalued amounts, in accordance with IAS 16.