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Its mean that material items of same nature should be reported separately in financial statement and dissimilar items may be aggregate if these are immaterial.
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Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if the are individually immaterial. [IAS1.29] Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if the are individually immaterial. [IAS1.29]
Materiality and aggregation To decide whether information is material the nature and the size of the item are evaluated together and if the non-disclosure thereof could influence the economic decisions of users taken on the basis of the financial statements it is material. Each material item should be presented separately in the financial statements. Immaterial amounts should be aggregated with amounts of a similar nature or function and need not be presented separately. If a line item either on the face of financial statements or in the notes is not individually material it is aggregated with other items. An item that is not sufficiently material to warrant separate presentation on the face of the financial statement may nevertheless be sufficiently material to be disclosed separately in the notes (IASI29-31)
Any amount that may affect the opinion of a decision maker, using the financial statements, considered as material.
Materiality and aggregation
Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if the are individually immaterial. [IAS1.29]
Agree with the expert answers.
AGREE WITH ALL ANSWERS
It is grouping similar items in one item, taking into account their relative importance though there is great significance items appear individually.
