treatement of blocked funds

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Dear All

please provide me guidance on the treatement of blocked funds that how to disclose them in the statement of financial poisition ?whether still we can show them in the current assets or they need to be presented as non current assets due to their non availibility/liquidity for a period of more than 12 months. please provide relevant IFRS extracts and gudiance...thanks a lot

 

[bklynboy]

I assume you are referring to restricted cash. Only cash available to settle current liabiliites should be considered a current asset. As such, restricted cash that fails this test is classified as a non current asset. In either case, it should be segregated on the balance sheet to clearly show the restricted amount or if internally restricted, the amount displayed in the footnotes. Look at IAS 1 paragraph 57d which is attached here.

http://www.worldgaapinfo.com/pdf/IAS/IAS1.pdf