Dear Sir,
I just brought the IFRS charts 2014. I'm in the progress discussion with Fiannace officer to follow this standard but I having difficulty to understand the Account No. Notice that Account No consists of non-current & currect.
I do notice that at digit 5 also got - value.
May I know what does digit 5 & 6 - mean?
Can you please advice?
Hope to hear from you soon.
Thank you and regards,
GY Teh
The two digits after the first hyphen denote a second dimension. For example, on line 1002, Raw materials and consumables classified by nature can be also classified by function.
In this case account 5.1.1.0.0.0-1.0-1 would be Raw materials and consumables (nature) also classified to Cost of sales (function)
Account 5.1.1.0.0.0-2.1-1 would then be Raw materials and consumables (nature) also classified as Distribution (function)
At many companies this second dimension is a department run as a second numerical series.
The last number after the second hyphen is used to distinguish. If it has a zero value, this distinction is not made. 1 means its universal, 2 non-current and 3 current.
If you have any more questions I'll be glad to help.
Mladek