Cash inflows and outflows offsetting

IAS 1 Presentation of financial statements paragraph 32 prohibits the offset of assets and liabilities, and income and expense, unless this is specifically required or permitted by an other IFRS.

IAS 7.1317 sets out requirements for, and examples of, individual cash inflows and outflows that are to be presented separately in respect of operating, investing and financing activities. The offset of cash inflows and outflows is not permitted (except in limited circumstances, that are relevant for financial … Continue reading