Academic year 2010/2011
Patrice Schumesch Sebastian Harushimana
Table of contents (1/4)
Introduction
- Why IFRS ? - General principles
Measurement of assets and liabilities
- Formation expenses - Intangible assets - Property, plant & equipment - Leases - Impairment of assets
Slide 2
Consolidation and IFRS: an introduction
Table of contents (2/4)
Measurement of assets and liabilities (cont’d)
- Government grants - Inventories and contracts in progress - Revenue recognition - Provisions and contingencies - Events after the reporting period - Employee benefits and share-based payments - Deferred taxes - Foreign currency transactions - Financial instruments
Slide 3
Consolidation and IFRS: an introduction
Table of contents (3/4)
Consolidation
- Consolidation - Business combinations - Translation of financial statements of foreign operations
Presentation of financial statements
- Structure and contents of financial statements - Statement of financial position - Statement of comprehensive income - Statement of changes in equity - Statement of cash flows - Structure of disclosures
Slide 4
Consolidation and IFRS: an introduction
Table of contents (4/4)
Presentation of financial statements (cont’d)
- Discontinued operations - Operating segments - Earnings per share - Related party transactions - Interim financial reporting
Changes in accounting policies and first-time application rules
- Changes in accounting policies, changes in accounting estimates and errors - First-time adoption of IFRS
Slide 5
Consolidation and IFRS: an introduction
Introduction
Why IFRS ?
Why IFRS ?
IFRS Worldwide
Globalisation of business and capital markets require that there be one single accounting language There is also an increasing need for high-quality and transparent financial information (cfr Enron, Worldcom, L&H, Parmalat, etc.) IASC (International Accounting