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Shareholders' equity is always placed after liabilities on the statement of financial position under IFRS?

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Question added by Michael Lagunday , Accounts Assistant , Invest Group Overseas LLC
Date Posted: 2015/08/07
Ahmer Zamir
by Ahmer Zamir , Consultant , Saleem Associates & Co

The correct option is  B) false 

Mohsin Patel
by Mohsin Patel , Accounting Analyst , Water G.

 I was taught equity is before liability, I assume all companies have their own format. so False.

Deleted user
by Deleted user

B. False

 

Shareholders' equity is not always placed after liabilities on the statement of financial position under IFRS.

IAS1 does NOT prescribe the precise format of the statement of financial position. Instead, several formats are acceptable if they fulfill all requirements outlined above.

Badar Khan
by Badar Khan , Accounts cum administrative assistant , Al Qassimia Drivng Training Centre.Sharjah

--------------------------------------the correct answer is A

Md. Moshiur Rahman Sumon
by Md. Moshiur Rahman Sumon , Assistant General Manager( Corporate Finance & Head of Internal Audit) , Progressive Life Insurance Company Limited

A) True is correct answer..........................

mohamed fares
by mohamed fares , senior accountant , سيف الله مصطفى

false

the current liabilities only placed after equity then long term liabilities

 then we get total long term liabilities added to total equity and must equal to total investment