According to AASB 101/IAS 1 Presentation of Financial Statements, the Statement of financial position may also be referred to as the balance sheet.

Name: According to AASB 101/IAS 1 Presentation of Financial Statements, the Statement of financial position may also be referred to as the balance sheet.
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AASB 101/IAS 1 allows for the Statement of financial position to be referred to as the balance sheet, as both terms are commonly used interchangeably in financial reporting.