TAILIEUCHUNG - Lecture IFRS primer international GAAP basics: Chapter 14 - Wiecek, Young

Chapter 14 - Accounting for government grants and disclosure of government. The main contents of the chapter consist of mains parts: Related standards, IAS 20, current GAAP comparisons, looking ahead, end-of-chapter practice. | Accounting for Government Grants and Disclosure of Government Assistance: IAS 20 Wiecek and Young IFRS Primer Chapter 14 Accounting for Government Grants and Disclosure of Government Assistance Related standards IAS 20 Current GAAP comparisons Looking ahead End-of-chapter practice Related Standards IAS 41 Agriculture IAS 37 Provisions, contingent liabilities and contingent assets IAS 20 - Overview Objective and scope Accounting for government grants Government assistance Disclosure IAS 20 – Objective and Scope Government grant: a form of government assistance; a transfer from a government to an entity that requires compliance with certain conditions related to entity’s operating activities. Government assistance: government action to generate an economic benefit for entities that meet qualifying criteria. IAS 20 – Objective and Scope Excludes benefits provided by adjusting taxable profit or loss, or that are determined on the basis of the income tax liability - such as investment tax credits, income tax holidays, accelerated tax depreciation methods and reduced income tax rates IAS 20 – Accounting for Government Grants Recognition and Measurement: Recognize a government grant when there is reasonable assurance that The grant will be received, and The entity will comply with the conditions attached to the grant IAS 20 – Accounting for Government Grants Two general approaches: Capital approach Income approach * Apply this one * * Grants from government are not equity financing, they are non-shareholder-related increases in net assets and therefore items of income. IAS 20 – Accounting for Government Grants Income approach: recognize government grants in profit or loss in the same periods that the related expenses are recognized If for acquisition of assets – on the same basis as the depreciation on the assets If related directly to incurring specific expenditures – on the same basis as the expenditures IAS 20 – Accounting for .

• Kế toán - Kiểm toán
• International Financial Reporting Standards
• Non financial assets
• Reporting basics
• Financial assets
• Reporting entity
• Accounting for government grants
• Financial accounting
• Financial reporting
• Financial reporting standards
• Merchandising operations
• Internal control
• Financial statements
• Stockholders’ equity
• Financial statement analysis
• International financial reporting
• Conceptual framework
• Financial position
• Globalization trend
• International Accounting Standards Board
• Employee benefits
• Revenue recognition
• Including construction contracts
• government grants
• Foreign currency
• Accounting standards worldwide
• Wiley IFRS 2013
• International Financial Reporting Standard
• Tiêu chuẩn báo cáo tài chính quốc tế
• Accounting policies
• Financial liabilities
• Interim financial reports
• Interim financial reporting
• Summary of dissertation
• International financial reporting standards adoption
• Vietnamese enterprises
• IFRS standards in Vietnamese enterprises
• Application of IFRS standards
• Accounting standards
• Financial statement
• Stock exchange
• Joint stock companies
• Vietnam’s accounting standards
• Financial reporting under IFRS
• International trends
• Financial instruments
• Share based payments
• Standards applicable
• IFRS financial statement
• Separate financial statements