Deloitte comment letter on ED/2011/1 'Offsetting Financial Assets and Financial Liabilities'

Published on: 19 Apr, 2011

The IASB and FASB have concluded that the presentation of gross amounts of financial assets and financial liabilities generally provides more relevant information than a net presentation and that a gross presentation aligns more closely with the Conceptual Framework’s emphasis on providing users with information about the reporting entity’s future cash flows. We agree with this conclusion.

We also observe, however, that during the Boards’ outreach efforts, users expressed a view that both gross and net information is useful and necessary for analysing financial statements.


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