New FAQ on Will the presentation of assets in the financial statements increase an asset’s risk profile?

Entities need to apply the requirements of the Standards of GRAP when deciding how to present information in the financial statements. GRAP 1 on Presentation of Financial Statements requires that each material class of similar items be presented separately in the financial statements. If a line item is not individually material, it is aggregated with other items either on the face of those statements or in the notes. In applying this requirement, an item that is aggregated with other items on the face of those statements may nevertheless be sufficiently material for it to be presented separately in the notes.

Access FAQ 2.16 here: FAQs.