IFRS News Emerging issues and practical guidance* Supplement – September 2008 IAS 23R – Q&As‚ part 2 This is the second in a series of two supplements providing Q&As on IAS 23R. Olivier Scherer‚ partner in Global ACS‚ looks at some of the issues arising from the application of the revised standard that PwC’s Global Accounting Consulting Services has addressed. IFRS 23R is effective for annual periods beginning on or after 1 January 2009 (in the EU‚ subject to EU endorsement). Earlier application
Premium Balance sheet Generally Accepted Accounting Principles
TASK 1: Financial statements are used by both internal and external users to make economic decisions. The information within the financial statement aims to provide information about the financial position‚ performance and any changes in financial position of an enterprise. Financial statements should be understandable‚ relevant‚ reliable and comparable. Reported assets‚ liabilities‚ equity‚ income and expenses are directly related to an organization ’s financial position. AstraZeneca
Premium Balance sheet Financial statements International Financial Reporting Standards
direct method 229 IV Example disclosures for entities that early adopt Presentation of Items of Other Comprehensive Income (Amendments to IAS 1 Presentation of Financial Statements) 231 V 233 Example disclosures for entities that early adopt IFRS 9 Financial Instruments (2010) VI Example disclosures for entities that early adopt IAS 19 Employee Benefits (2011) 255 VII Example disclosures for entities that early adopt IFRS 10 Consolidated Financial Statements‚ IFRS 11 Joint
Premium Balance sheet Income statement Generally Accepted Accounting Principles
brown spots on the side. It ranges from 40 – 50cm. Place of Origin: This was first introduced in the Philippines by the Philippine Fisheries Commission in 1960. It was believed that the goby was unconsciously part of the Mozambique Tilapia also an IAS. Distribution: The goby is distributed from tropical and subtropical countries. It can be found on the East Coast of Africa‚ Southern Asia (e.g. India) and South East Asian countries such as the Philippines. In the Philippines the first recorded white
Premium Invasive species Mindanao Genetic pollution
Case 1-1: E-Centives‚ Inc‚ - Raising Capital in Switzerland On October 3‚ 2000‚ E-Centives‚ incorporated in the United States‚ made an initial public offering on the Swiss Stock Exchange’s New Market. The company raised approximately US $ 40 million. The E-Centives offering circular stated that no offers or sales of the company’s common stock would be made in the United States‚ and that there would be no public market for the common stock in the United States after the offering. THE SWISS EXCHANGES’S
Premium Balance sheet Financial statements International Financial Reporting Standards
PRINCIPLES OF ACCOUNTING(POA)/ACCOUNTING FOR MANAGERS(AFM) Basic Accounting Concepts & Terminologies ACCOUNTING- DEFINITION Accounting means the various technical activities performed by accountants‚ including financial accounting‚ bookkeeping and management accounting. Accounting is considered to be as old as money. However in 1494 Lucas Fra Pacoili‚ an Italian Merchant is universally regarded as the father of modern system of accounting or double entry system of accounting. Accounting has
Premium Generally Accepted Accounting Principles Balance sheet Inventory
Equipment (IAS 16) replaces IAS 16 Property‚ Plant and Equipment (revised in 1998)‚ and should be applied for annual periods beginning on or after 1 January 2005. Earlier application is encouraged. The Standard also replaces the following Interpretations: • SIC-6 Costs of Modifying Existing Software • SIC-14 Property‚ Plant and Equipment—Compensation for the Impairment or Loss of Items • SIC-23 Property‚ Plant and Equipment—Major Inspection or Overhaul Costs . Reasons for Revising IAS 16 IN2
Premium Depreciation
IAS - 12 Income taxes By: http://www.WorldGAAPInfo.com International Accounting Standard No 12 (IAS 12) Income taxes In October 1996‚ the council approved the revised Standard‚ published as IAS 12 (revised 1996)‚ income taxes and repealed the previous IAS 12 (reformatted 1994)‚ accounting for taxes on income. The revised standard was effective for financial statements beginning from January 1 1998. In May 1999‚ IAS 10 (revised 1999)‚ events after the balance sheet date‚ amended paragraph
Premium Taxation Balance sheet Depreciation
Business & Financial Affairs Research Article Dinh and Gong‚ J Bus & Fin Aff 2013‚ 2:1 http://dx.doi.org/10.4172/2167-0234.1000108 Open Access A Fair Value and Hedge Activities Doan Van Dinh1* and Guangming Gong2 1 2 College of Economics and Trade Management of Hunan University‚ China and Faculty of Finance and Banking of the Industrial University of Ho Chi Minh City‚ Vietnam Business school Hunan University in China Abstract This article‚ author consider the fair value of financial
Premium Balance sheet Financial statements Asset
MA932 Financial Statements Analysis Coursework 1 1. The circumstances in which the revaluation model may be used: (In accordance with IAS 38) There is active market‚ since the fair value of an intangible asset must be determined by reference to an active market in that type of asset. Sufficient regularity to ensure that the carrying amount of an intangible asset does not differ materially from fair value A. The 25000 revaluation decrease on 31 December 2011 should be recognized as an expense
Premium Balance sheet Generally Accepted Accounting Principles Asset