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cuongtd Last updated: 10 August 2020 As a general rule, assets and liabilities are presented as current and non-current in the statement of financial position (IAS 1.60). Current / non-current classification of assets General criteria for assets An entity classifies an asset as current when (IAS 1.66): it expects to realise the asset, or intends to … Read more
Last update 04/08/2020 What are Consolidated Financial Statements in IFRS 10 and the relations with IFRS 11 IFRS 12 IAS 27 IAS 28 and disclosures for consolidation and investments. Topics hide Look here IAS 27 Separate Financial Statements IFRS 10 Consolidated Financial Statements Investment entity IFRS 11 Joint Arrangements Determination of this classification: Consolidation replacement/alternative … Read more
Last update 20/07/2020 Overview IFRS 10 Consolidated Financial Statements – Short – To establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities Overview IFRS 10 Consolidated Financial Statements Longer – IFRS 10 replaces the part of IAS 27 Consolidated and Separate Financial Statements that … Read more
Did you note that with the globalizing world, the number of large entities decreases and their size increases? Just as an example – 20 years ago, there were about 50 large media companies in the USA, controlling US entertainment industry. I mean film studios, TV stations and similar companies. These days, there are just 6 … Read more
Last update 10/07/2020 IFRS 2 Fair value of equity instruments granted – Share-based payment transactions with employees are measured with reference to the fair value of the equity instruments granted (IFRS 2.11). The fair value of the equity instruments granted is determined as follows (IFRS 2.16-17): If market prices are available for the actual equity … Read more
Last update 07/02/2020 Appendix B Application guidance This appendix is an integral part of the IFRS. Estimating the fair value of equity instruments granted B1 Paragraphs B2–B41 of this appendix discuss measurement of the fair value of shares and share options granted, focusing on the specific terms and conditions that are common features of a … Read more
Last update 13/02/2020 Significance of financial instruments for financial position and performance 7 An entity shall disclose information that enables users of its financial statements to evaluate the significance of financial instruments for its financial position and performance. Statement of financial position Categories of financial assets and financial liabilities 8 The carrying amounts of each … Read more
Last update 12/02/2020 The recognition process 5.1 Recognition is the process of capturing for inclusion in the statement of financial position or the statement(s) of financial performance an item that meets the definition of one of the elements of financial statements—an asset, a liability, equity, income or expenses. Recognition involves depicting the item in one … Read more
Last update 12/02/2020 Financial statements 3.1 Chapters 1 and 2 discuss information provided in general purpose financial reports and Chapters 3–8 discuss information provided in general purpose financial statements, which are a particular form of general purpose financial reports. Financial statements1 provide information about economic resources of the reporting entity, claims against the entity, and changes … Read more
Last update 12/02/2020 Introduction 2.1 The qualitative characteristics of useful financial information discussed in this chapter identify the types of information that are likely to be most useful to the existing and potential investors, lenders and other creditors for making decisions about the reporting entity on the basis of information in its financial report (financial … Read more