3.8 OTHER CONTROL POINTS

Paragraphs 3.2.3, 3.5.1, and 3.5.2
Review specific guidance for the statement of financial position of specialized industries.
Paragraph 3.2.4
Be aware of specific requirements for small and medium-sized entities.
Paragraph 3.3.2
Disaggregate or disclose the long-term portion embedded in a single-line item; Enable the accounting system to generate a classified statement of financial position automatically.
Paragraph 3.3.3
Link time/date coding fields, at the moment an accounting entry is made, to the way the information systems generate liquidity sorting. Do not use subaccounts for this purpose, as this may require lengthy manual and subjective adjustments.
Paragraph 3.3.5
Make short- versus long-term analysis as automatic as possible. Enable the accounting system to display a short-term versus current criterion as a reversible on demand presentation key.
Paragraph 3.3.6
Irrespective of the use of a classified versus an unclassified statement of financial position, check that the sorting order follows the prevailing patterns under IFRSs and U.S. GAAP, respectively.
Paragraph 3.3.7
Review specific totalization requirements under IFRSs, U.S. GAAP, and SEC guidance.
Paragraph 3.4.1
Review different display and disclosure requirements for held-for-sale assets and liabilities under IFRSs as compared with U.S. GAAP.
Paragraph 3.4.2
Review differences between IFRSs and U.S. GAAP concerning offsetting guidance.
Paragraph 3.4.3 ...

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