TAILIEUCHUNG - Lecture IFRS primer international GAAP basics: Chapter 2 - Wiecek, Young

Chapter 2 - Financial statements IAS 1. The following will be discussed in this chapter: Related standards, purpose and components of financial statements, statement of financial position, statement of comprehensive income (this may be augmented by a separate income statement), statement of changes in equity,. | Financial Statements IAS 1 Wiecek and Young IFRS Primer Chapter 2 Related Standards FAS 130 Reporting Comprehensive Income Related Standards IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 7 Financial Instruments: Disclosures IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors Purpose and Components of Financial Statements Comparable statements more useful IAS 1 looks to enhance comparability Applies to general purpose financial statements Meets the needs of most users “Financial statements are a structured representation of the financial position and financial performance of the entity.” IAS 1 - Overview Statement of financial position Statement of comprehensive income (this may be augmented by a separate income statement) Statement of changes in equity Statement of cash flows Notes including significant accounting policies and explanatory information Statement of financial position at the beginning of the earliest comparative period when an entity applies an accounting policy retrospectively or makes a retrospective restatement Fair Presentation and Compliance with IFRSs Should present fairly - faithful representation Entity must: select and apply appropriate accounting policies keeping in mind the GAAP hierarchy, present the information such that it provides, relevant, comparable and understandable information, and provide additional disclosures where necessary. Note disclosures are not a substitute for proper accounting May depart from GAAP Going Concern and Accrual Based Accounting Accrual basis Going concern assumed If not – new basis of accounting Materiality Omissions or misstatements of items are material if they could, individually or collectively, influence the economic decisions of users taken on the basis of the financial statements. Materiality depends on the size and nature of the omission or misstatement judged in the surrounding circumstances. The size or nature of the .

• Kế toán - Kiểm toán
• International Financial Reporting Standards
• Non financial assets
• Reporting basics
• Financial assets
• Reporting entity
• Financial statements
• Financial accounting
• Financial reporting
• Financial reporting standards
• Merchandising operations
• Internal control
• 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