Define new asset categories

[Matt]

Is there a way to redefine the asset categories. Large,
mid, small, bonds other doesn't do it for me. My
allocation is based on real estate, commodities, domestic
and international. How can I redefine this?

 

[Yash]

Well new accounting standards from IFRS just classifies assets just Current and Non-current assets. It can be any class of asset. When it comes to impairment review, the same type (for example bonds, machinery etc.,) asset classes are checked for impairment in a CGU.

 

[bklynboy]

I think he is speaking about investment allocation categories not accounting/reporting