IAS 1 Presentation of Financial Statements

Topics hide Overview – IFRS 2022 update – Classification of non-current liabilities with covenants Why this change? The 2022 amendments Separarate presentation Disclosures Right to defer settlement The 2020 amendments What’s new compared to the current IAS 1 Example 1 Loan subject to covenants Example 2 Foreign curency convertible bond Overview – IFRS 2022 update … Read more

Topics hide What is the disclosure definition under IFRS? Let us point to some IFRS disclosure particularities Minimum comparative information Structure and content Realisation of assets and liabilities Materiality and separate disclosure Nature of expense and function expense profit or loss statement Analysis of expenses by function and by nature Nature of expense Function of … Read more

Topics hide Disclosures Principles of consolidation and equity accounting Example accounting policies guidance Whether to disclose an accounting policy Change in accounting policy – new and revised accounting standards 25(b) Principles of consolidation and equity accounting (i) Subsidiaries (ii) Associates (iii) Joint arrangements (iv) Equity method (v) Changes in ownership interests Disclosures Principles of consolidation … Read more

Topics hide Going concern and pandemics Judgement Disclosure Current vulnerability due to concentration and liquidity risks COVID-19: Issues for Shipping Entities Borrowings and covenants Vessels, goodwill and other intangibles Vessel lay-up and suspension of vessel construction Expected credit losses Modification of contracts accounted for as leases Demurrage revenue Force majeure clauses Going concern and pandemics … Read more

Topics hide Focus definition or Trends in IFRS reporting Example Report Corp. (IAS 1.49, IAS 1.51(a)) Structure of the notes Materiality matters 1. Example Report Corp. How did we arrive at these numbers? What are the risks included in these financial statements? How is the Group/Company organised? What are the conditional items not yet recognised? … Read more

Topics hide Critical estimates judgements and errors (a) Significant estimates and judgements 11(b) Correction of material error in calculating depreciation 11(c) Revision of useful lives of plant and equipment Critical estimates, judgements and errors – Guidance Sources of estimation uncertainty Significant judgements Change of accounting estimate in final interim period Brexit Critical estimates judgements and … Read more

Topics hide Employee benefits accounting policies Employee benefits Guidance 25(y) Employee benefits (i) Short-term obligations (ii) Other long-term employee benefit obligations (iii) Post-employment obligations (iv) Share-based payments (v) Profit-sharing and bonus plans (vi) Termination benefits (vii) Reclassification of employee benefit obligations Employee benefits accounting policies This is a separated part of the example accounting policies, … Read more

Topics hide Disclosure equity Disclosure equity guidance Share premium Treasury shares Other potential disclosures Disclosure equity example 9 Equity 9(a) Share capital and share premium 9(b) Other equity 9(c) Other reserves 9(d) Retained earnings Disclosure equity Get the requirements for properly disclosing equity as the owners’ balance of assets less liabilities to provide the users … Read more

Topics hide The real meaning of integrated reporting The reason for including environmental and social factors in reporting CSR (Corporate Social Responsibility) reports IIRC Meaning Guiding principles Integrated reporting: what it isn’t Considerations and benefits of integrated reporting Key considerations for the integrated reporting decision The benefits of integrated reporting The way to integration Key … Read more