TAILIEUCHUNG - Ebook Financial reporting under IFRS - A topic based approach: Part 2

(BQ) Part 2 book "Financial reporting under IFRS - A topic based approach" has contents: Non-current assets, financing, taxation, group accounts, financial analysis and communication, the IASB and development of the IFRS. | To download more slides, ebooks, solution manual, and test bank, visit 5 NON-CURRENT ASSETS This chapter discusses the treatment of assets that will generate economic benefits for the entity for a period beyond the duration of a single operating cycle and are called “non-current assets”. It is mainly this duration criteria that distinguishes them from current assets such as inventory and receivables covered in Chapter 3. Non-current assets can be analyzed according to various criteria. The nature of assets is usually the first criterion used in both the balance sheet presentation and in accounting standards. Thus we can distinguish: � Intangible assets, which are assets without physical substance and non-monetary (soft­ ware, development expenditures, trademarks, licenses, etc.). � Tangible assets, which are physical assets (land, buildings, machinery, furniture, com­ puter equipment, etc.). � Non-current financial assets, which are monetary values (shares in other companies, long-term loans, etc.). The period during which the company can expect to obtain economic benefits from the use of the asset is the second criterion of classification of non-current assets. We distinguish: � Assets with limited useful life (software, machines, buildings, etc.). � Assets with unlimited useful life (land). � Assets with undefined useful life (trademarks). This chapter mainly follows the classification by nature and presents, first, the intangible and tangible assets and, second, the financial assets (see Figure ). The criterion of useful life is addressed in each of the two sections. TANGIBLE AND INTANGIBLE ASSETS Tangible assets are physical assets: land, buildings, machinery, furniture. . . Intangible assets are assets without physical substance and are non-monetary: software, development expenditures, trademarks, license. . . The useful life of an asset is the period during which the company expects to use it. The residual value

• Ngân hàng - Tín dụng
• Financial reporting under IFRS
• Financial reporting
• Non current assets
• Group accounts
• Financial analysis
• The IASB and development of the IFRS
• Financial reporting quality of Nigerian quoted firms under ifrs adoption
• Nigerian quoted firms under ifrs adoption
• Financial reporting quality
• The Nigeria Stock Exchange
• Average financial reporting quality
• The reporting date
• Construction contracts
• Financial statements
• International financial reporting standards
• Accounting mechanisms
• Income from ordinary activities
• Current assets
• Non financial liabilities
• International trends
• Financial instruments
• Share based payments
• Standards applicable