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• Cover
• Content
• Title Page
• Copyright
• Forewords to First Edition
• Preface
• Acknowledgements
• About the Authors
• 1. Introduction to International Financial Reporting Standards
• INTRODUCTION
• WORLDWIDE ADOPTION OF IFRS
• REMAINING EXCEPTIONS
• THE INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
• THE INTERNATIONAL ACCOUNTING STANDARDS BOARD
• STRUCTURE AND GOVERNANCE
• THE WAY FORWARD
• 2. IASB Framework
• INTRODUCTION
• OBJECTIVE OF FINANCIAL STATEMENTS
• UNDERLYING ASSUMPTIONS
• QUALITATIVE CHARACTERISTICS OF FINANCIAL STATEMENTS
• ELEMENTS OF FINANCIAL STATEMENTS
• CONCEPTS OF CAPITAL AND CAPITAL MAINTENANCE
• FUTURE DEVELOPMENTS
• MULTIPLE-CHOICE QUESTIONS
• 3. Presentation of Financial Statements (IAS 1)
• INTRODUCTION
• SCOPE
• PURPOSE OF FINANCIAL STATEMENTS
• OVERALL CONSIDERATIONS
• STRUCTURE AND CONTENT Identification of the Financial Statements
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• OTHER AMENDMENTS TO IAS 1
• MULTIPLE-CHOICE QUESTIONS
• 4. Inventories (IAS 2)
• BACKGROUND AND INTRODUCTION
• SCOPE
• MEASUREMENT OF INVENTORIES
• COST OF INVENTORIES
• TECHNIQUES FOR MEASUREMENT OF COSTS
• COST FORMULAS
• NET REALIZABLE VALUE
• RECOGNITION OF EXPENSE
• DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 5. Statement of Cash Flows (IAS 7)
• BACKGROUND AND INTRODUCTION
• SCOPE
• BENEFITS OF PRESENTING A STATEMENT OF CASH FLOWS
• CASH AND CASH EQUIVALENTS
• PRESENTATION OF THE STATEMENT OF CASH FLOWS
• OPERATING ACTIVITIES
• INVESTING ACTIVITIES
• FINANCING ACTIVITIES
• NONCASH TRANSACTIONS
• DIRECT VERSUS INDIRECT METHOD
• REPORTING CASH FLOWS ON A GROSS BASIS VERSUS A NET BASIS
• FOREIGN CURRENCY CASH FLOWS
• REPORTING FUTURES, FORWARD CONTRACTS, OPTIONS, AND SWAPS
• RECONCILIATION OF CASH AND CASH EQUIVALENTS
• ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES AND OTHER BUSINESS UNITS
• OTHER DISCLOSURES REQUIRED AND RECOMMENDED BY IAS 7
• MULTIPLE-CHOICE QUESTIONS
• 6. Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8)
• BACKGROUND AND INTRODUCTION
• ACCOUNTING POLICIES
• SELECTION AND APPLICATION OF ACCOUNTING POLICIES
• CONSISTENCY OF ACCOUNTING POLICIES
• FACTORS GOVERNING CHANGES IN ACCOUNTING POLICIES
• APPLYING CHANGES IN ACCOUNTING POLICIES
• LIMITATIONS OF RETROSPECTIVE APPLICATION
• DISCLOSURES WITH RESPECT TO CHANGES IN ACCOUNTING POLICIES
• CHANGES IN ACCOUNTING ESTIMATES
• CORRECTION OF PRIOR PERIOD ERRORS
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 7. Events After the Reporting Period (IAS 10)
• BACKGROUND AND INTRODUCTION
• SCOPE
• AUTHORIZATION DATE
• ADJUSTING AND NONADJUSTING EVENTS (AFTER THE REPORTING PERIOD)
• DIVIDENDS PROPOSED OR DECLARED AFTER THE BALANCE SHEET DATE
• GOING CONCERN CONSIDERATIONS
• DISCLOSURE REQUIREMENTS
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 8. Construction Contracts (IAS 11)
• BACKGROUND AND INTRODUCTION
• COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS
• CONTRACT REVENUE
• CONTRACT COSTS
• RECOGNITION OF CONTRACT REVENUE AND EXPENSES
• FIXED-PRICE CONTRACT
• COST-PLUS CONTRACT
• PERCENTAGE-OF-COMPLETION METHOD
• IFRIC 12
• IFRIC 15
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 9. Income Taxes (IAS 12)
• BACKGROUND AND INTRODUCTION
• CURRENT TAX LIABILITIES AND ASSETS
• ACCOUNTING FOR DEFERRED TAX
• CONSOLIDATED FINANCIAL STATEMENTS
• TEMPORARY DIFFERENCES NOT RECOGNIZED FOR DEFERRED TAX
• DEFERRED TAX ASSETS
• TAX RATES
• DISCOUNTING
• CURRENT AND DEFERRED TAX RECOGNITION
• DIVIDENDS
• DISCLOSURE: KEY ELEMENTS
• REVISION OF IAS 12
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 10. Property, Plant, and Equipment (IAS 16)
• BACKGROUND AND INTRODUCTION
• SCOPE
• RECOGNITION OF AN ASSET
• DEPRECIATION
• DERECOGNITION
• IFRIC INTERPRETATION 1
• DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 11. Leases (IAS 17)
• BACKGROUND AND INTRODUCTION
• SCOPE
• CLASSIFICATION OF LEASES
• LEASES IN THE FINANCIAL STATEMENTS OF LESSEES Finance Leases
• LEASES IN THE FINANCIAL STATEMENTS OF LESSORS
• SALE AND LEASEBACK TRANSACTIONS AND OTHER TRANSACTIONS INVOLVING THE LEGAL FORM OF A LEASE
• THE FUTURE OF LEASE ACCOUNTING
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 12. Revenue (IAS 18)
• BACKGROUND AND INTRODUCTION
• SCOPE
• MEASUREMENT OF REVENUE
• IDENTIFICATION OF A TRANSACTION
• SALE OF GOODS
• RENDERING OF SERVICES
• INTEREST, ROYALTIES, AND DIVIDENDS
• DISCLOSURES
• IFRIC 12, SERVICE CONCESSION ARRANGEMENTS
• IFRIC 13, CUSTOMER LOYALTY PROGRAMS
• AMENDMENT TO IAS 18 ANNUAL IMPROVEMENTS 2009
• IFRIC 15, AGREEMENTS FOR THE CONSTRUCTION OF REAL ESTATE
• DISCLOSURES
• IFRIC 18, TRANSFERS OF ASSETS FROM CUSTOMERS
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 13. Employee Benefits (IAS 19)
• SCOPE
• DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS— CLASSIFICATION
• DEFINED BENEFIT PLANS
• DEFINED CONTRIBUTION PLANS
• CONTRASTING DEFINED BENEFIT AND DEFINED CONTRIBUTION
• ACCOUNTING FOR DEFINED CONTRIBUTION SCHEMES
• ACCOUNTING FOR DEFINED BENEFIT PLANS
• KEY INFORMATION: DEFINED BENEFIT PLANS
• STATEMENT OF FINANCIAL POSITION
• STATEMENT OF COMPREHENSIVE INCOME
• MEASURING THE DEFINED BENEFIT OBLIGATION
• PLAN ASSETS
• PENSION ASSETS AND LIABILITIES
• CURTAILMENTS AND SETTLEMENTS
• ACTUARIAL GAINS AND LOSSES—DEFINED BENEFIT PLANS
• IFRIC 14, IAS 19—THE LIMIT ON A DEFINED BENEFIT ASSET, MINIMUM FUNDING REQUIREMENTS, AND THEIR INTERACTION
• DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 14. Accounting for Government Grants and Disclosure of Government Assistance (IAS 20)
• INTRODUCTION
• SCOPE
• GOVERNMENT GRANTS
• RECOGNITION OF GOVERNMENT GRANTS
• NONMONETARY GRANTS
• PRESENTATION OF GRANTS RELATED TO ASSETS
• REPAYMENT OF GOVERNMENT GRANTS
• GOVERNMENT ASSISTANCE
• DISCLOSURES
• MULTIPLE-CHOICE QUESTIONS
• 15. The Effects of Changes in Foreign Exchange Rates (IAS 21)
• OBJECTIVES
• FUNCTIONAL CURRENCY
• RECORDING FOREIGN CURRENCY TRANSACTIONS USING THE FUNCTIONAL CURRENCY
• RECOGNITION OF EXCHANGE DIFFERENCES
• TRANSLATION TO THE PRESENTATION CURRENCY FROM THE FUNCTIONAL CURRENCY
• TRANSLATION OF A FOREIGN OPERATION
• DISPOSAL OF A FOREIGN ENTITY
• DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 16. Borrowing Costs (IAS 23)
• BACKGROUND
• SCOPE
• BORROWING COSTS
• QUALIFYING ASSETS
• RECOGNITION
• BORROWINGS ELIGIBLE FOR CAPITALIZATION
• EXCESS OF CARRYING AMOUNT OF THE QUALIFYING ASSET OVER THE RECOVERABLE AMOUNT
• COMMENCEMENT OF CAPITALIZATION
• SUSPENSION OF CAPITALIZATION
• CESSATION OF CAPITALIZATION
• DISCLOSURE
• EXTRACT FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 17. Related-Party Disclosures (IAS 24)
• BACKGROUND AND INTRODUCTION
• SCOPE
• EXPLANATION AND FURTHER ELABORATION OF THE DEFINITIONS
• SCOPE EXCLUSIONS AND EXEMPTION
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 18. Accounting and Reporting by Retirement Benefit Plans (IAS 26)
• INTRODUCTION
• SCOPE
• DEFINED CONTRIBUTION PLANS
• DEFINED BENEFIT PLANS
• ADDITIONAL DISCLOSURES REQUIRED BY THE STANDARD
• MULTIPLE-CHOICE QUESTIONS
• 19. Consolidated and Separate Financial Statements (IAS 27)
• SCOPE
• PRESENTATION OF FINANCIAL STATEMENTS
• CONSOLIDATED FINANCIAL STATEMENTS
• ACCOUNTING PROCEDURES
• CHANGES IN THE OWNERSHIP INTERESTS
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 20. Investments in Associates (IAS 28)
• BACKGROUND AND INTRODUCTION
• SIGNIFICANT INFLUENCE
• EQUITY METHOD
• EXCEPTIONS TO THE EQUITY METHOD
• INVESTOR CEASES TO HAVE SIGNIFICANT INFLUENCE
• ACQUISITION OF AN ASSOCIATE AND ACCOUNTING TREATMENT
• IMPAIRMENT LOSSES
• SEPARATE FINANCIAL STATEMENTS
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 21. Financial Reporting in Hyperinflationary Economies (IAS 29)
• SCOPE
• DEFINITION OF HYPERINFLATION
• CEASING TO BE HYPERINFLATIONARY
• FUNCTIONAL CURRENCY AND HYPERINFLATION
• RESTATEMENT OF FINANCIAL STATEMENTS: STATEMENT OF FINANCIAL POSITION
• STATEMENT OF COMPREHENSIVE INCOME
• SUNDRY POINTS
• DISCLOSURE
• MULTIPLE-CHOICE QUESTIONS
• 22. Interests in Joint Ventures (IAS 31)
• SCOPE
• DIFFERENT FORMS OF JOINT VENTURE
• JOINTLY CONTROLLED OPERATIONS
• JOINTLY CONTROLLED ASSETS
• JOINTLY CONTROLLED ENTITIES
• PROPORTIONATE CONSOLIDATION
• EQUITY METHOD
• EXCEPTION TO THE USE OF THE EQUITY METHOD AND PROPORTIONATE CONSOLIDATION
• FINANCIAL STATEMENTS OF AN INVESTOR
• SEPARATE FINANCIAL STATEMENTS
• TRANSACTIONS BETWEEN A VENTURER AND A JOINT VENTURE
• DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 23. Financial Instruments: Presentation (IAS 32)
• INTRODUCTION
• SCOPE
• PRESENTATION OF LIABILITIES AND EQUITY
• PRESENTATION OF INTEREST, DIVIDENDS, LOSSES, AND GAINS
• AMENDMENTS TO IAS 32—CLASSIFICATION OF “RIGHTS ISSUES”—EFFECTIVE 2010
• EXTRACTS FROM FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 24. Financial Instruments: Recognition and Measurement (IAS 39)
• INTRODUCTION
• SCOPE
• CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES INTO CATEGORIES
• RECOGNITION
• DERECOGNITION
• MEASUREMENT
• DERIVATIVES
• HEDGE ACCOUNTING
• RECENT AMENDMENTS TO IAS 39
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 25. Earnings Per Share (IAS 33)
• BACKGROUND AND INTRODUCTION
• ORDINARY SHARES
• PRESENTATION OF EARNINGS PER SHARE
• BASIC EARNINGS PER SHARE
• RIGHTS ISSUES
• DILUTED EARNINGS PER SHARE
• PRESENTATION
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 26. Interim Financial Reporting (IAS 34)
• OBJECTIVE
• FORM AND CONTENT OF INTERIM REPORTS
• SELECTED EXPLANATORY NOTES
• DISCLOSURE OF COMPLIANCE WITH IFRS
• PERIODS TO BE PRESENTED BY INTERIM FINANCIAL STATEMENTS
• MEASUREMENT
• SUNDRY POINTS
• IFRIC 10 INTERIM FINANCIAL REPORTING AND IMPAIRMENT
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 27. Impairment of Assets (IAS 36)
• SCOPE
• IDENTIFYING AN IMPAIRMENT LOSS
• DETERMINATION OF A RECOVERABLE AMOUNT
• FAIR VALUE LESS COSTS TO SELL
• VALUE-IN-USE
• FUTURE CASH FLOWS
• DISCOUNT RATE
• RECOGNITION AND MEASUREMENT OF AN IMPAIRMENT LOSS
• CASH-GENERATING UNITS
• GOODWILL
• TIMING OF IMPAIRMENT TEST
• GROUP OR DIVISIONAL ASSETS (CORPORATE ASSETS)
• ALLOCATION OF IMPAIRMENT LOSS
• REVERSAL OF AN IMPAIRMENT LOSS
• DISCLOSURE REQUIREMENTS
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 28. Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)
• BACKGROUND AND INTRODUCTION
• SCOPE
• PROVISIONS
• CONTINGENT LIABILITIES
• CONTINGENT ASSETS (Possible Assets)
• INTERPRETATION OF IAS 37 (IFRIC)
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 29. Intangible Assets (IAS 38)
• INTRODUCTION AND BACKGROUND
• SCOPE
• ELABORATION AND INTERPRETATION OF THE DEFINITIONS
• RECOGNITION AND MEASUREMENT
• INTERNALLY GENERATED INTANGIBLE ASSETS
• RECOGNITION OF AN EXPENSE
• WEB SITE DEVELOPMENT COSTS
• MEASUREMENT AFTER RECOGNITION
• USEFUL LIFE
• AMORTIZATION
• IMPAIRMENT
• RETIREMENTS AND DISPOSALS
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 30. Investment Property (IAS 40)
• BACKGROUND AND INTRODUCTION
• INVESTMENT PROPERTY
• RECOGNITION
• MEASUREMENT
• DISPOSALS
• DISCLOSURES
• MULTIPLE-CHOICE QUESTIONS
• 31. Agriculture (IAS 41)
• BACKGROUND AND INTRODUCTION
• RECOGNITION AND MEASUREMENT
• GAINS AND LOSSES
• FAIR VALUE RELIABILITY
• GOVERNMENT GRANTS
• ISSUES IN IAS 41
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 32. First-Time Adoption of International Financial Reporting Standards (IFRS 1)
• BACKGROUND
• SCOPE
• DEEMED EXCEPTIONS TO THE “FIRST-TIME ADOPTER” RULE
• OPENING IFRS STATEMENT OF FINANCIAL POSITION
• ADJUSTMENTS REQUIRED IN PREPARING THE OPENING IFRS STATEMENT OF FINANCIAL POSITION (OR IN TRANSITION FROM PREVIOUS GAAP TO IFRS AT THE TIME OF FIRST-TIME ADOPTION)
• ACCOUNTING POLICIES
• REPORTING PERIOD
• RATIONALE BEHIND USING THE “CURRENT VERSION OF IFRS”
• TRANSITIONAL PROVISIONS IN OTHER IFRS
• TARGETED EXEMPTIONS FROM OTHER IFRS
• BUSINESS COMBINATIONS
• SHARE-BASED PAYMENT TRANSACTIONS
• INSURANCE CONTRACTS AND OIL AND GAS ASSETS
• FAIR VALUE OR REVALUATION AS DEEMED COST
• LEASES
• EMPLOYEE BENEFITS
• CUMULATIVE TRANSLATION DIFFERENCES
• INVESTMENTS IN SUBSIDIARIES, JOINTLY CONTROLLED ENTITIES, AND ASSOCIATES
• FINANCIAL INSTRUMENTS
• IFRIC 1, CHANGES IN EXISTING DECOMMISSIONING, RESTORATION, AND SIMILAR LIABILITIES
• BORROWING COSTS
• IFRIC 18, TRANSFERS OF ASSETS FROM CUSTOMERS
• ASSETS AND LIABILITIES OF SUBSIDIARIES, ASSOCIATES, AND JOINT VENTURES
• EXCEPTIONS TO RETROSPECTIVE APPLICATION OF OTHER IFRS
• PRESENTATION AND DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 33. Share-Based Payments (IFRS 2)
• BACKGROUND AND INTRODUCTION
• RECOGNITION OF SHARE-BASED PAYMENT
• EQUITY-SETTLED TRANSACTIONS
• CASH-SETTLED TRANSACTIONS
• TRANSACTIONS THAT CAN BE SETTLED FOR SHARES OR CASH
• DEFERRED TAX IMPLICATIONS
• DISCLOSURE
• AMENDMENTS TO IFRS 2
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 34. Business Combinations (IFRS 3)
• BACKGROUND AND INTRODUCTION
• IDENTIFYING AN ACQUIRER
• COST OF ACQUISITION
• NET ASSETS ACQUIRED
• GOODWILL
• STEP ACQUISITION
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 35. Insurance Contracts (IFRS 4)
• BACKGROUND AND INTRODUCTION
• FIRST PHASE
• CHANGES IN ACCOUNTING POLICIES
• CONCESSIONS IN IFRS 4
• ACCOUNTING UNDER IFRS 4
• RECENT PRONOUNCEMENTS
• DISCLOSURES
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• FUTURE DEVELOPMENTS—AN INSIGHT
• MULTIPLE-CHOICE QUESTIONS
• 36. Noncurrent Assets Held for Sale and Discontinued Operations (IFRS 5)
• BACKGROUND AND SCOPE
• EXTENSION OF PERIOD BEYOND ONE YEAR
• SUNDRY POINTS
• MEASUREMENT OF NONCURRENT ASSETS THAT ARE HELD FOR SALE
• CHANGE OF PLANS
• DISCLOSURE: NONCURRENT ASSETS
• DISCONTINUED OPERATIONS: PRESENTATION AND DISCLOSURE
• FUTURE DEVELOPMENTS
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 37. Exploration for and Evaluation of Mineral Resources (IFRS 6)
• INTRODUCTION
• SCOPE
• RECOGNITION
• MEASUREMENT
• IMPAIRMENT
• DISCLOSURE
• EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 38. Financial Instruments: Disclosures (IFRS 7)
• INTRODUCTION
• SCOPE
• SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR FINANCIAL POSITION AND PERFORMANCE
• NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS
• AMENDMENT TO IFRS 7, IMPROVING DISCLOSURES ABOUT FINANCIAL INSTRUMENTS, ISSUED MARCH 2009, EFFECTIVE FOR ANNUAL PERIODS BEGINNING ON OR AFTER JANUARY 1, 2009.
• EXTRACTS FROM FINANCIAL STATEMENTS
• MULTIPLE-CHOICE QUESTIONS
• 39. Operating Segments (IFRS 8)
• INTRODUCTION
• SCOPE
• CORE PRINCIPLE
• CHIEF OPERATING DECISION MAKER
• OPERATING SEGMENTS
• REPORTABLE SEGMENTS
• DISCLOSURE REQUIREMENTS OF IFRS 8
• MULTIPLE CHOICE QUESTIONS
• 40. Financial Instruments (IFRS 9)
• INTRODUCTION AND PURPOSE
• CLASSIFICATION
• THE BUSINESS MODEL TEST
• CONTRACTUAL TERMS OF FINANCIAL ASSET TEST
• MEASUREMENT
• RECLASSIFICATION
• EMBEDDED DERIVATIVES
• LOANS AND RECEIVABLES, AND HELD TO MATURITY
• IMPAIRMENT AND AVAILABLE FOR SALE
• OTHER ISSUES
• EQUITY INVESTMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
• EFFECTIVE DATE AND TRANSITION
• MULTIPLE-CHOICE QUESTIONS
• 41. IFRS for SMEs
• INTRODUCTION
• DEFINITION OF SME
• RATIONALE
• TOPICS OMITTED FROM IFRS FOR SMEs
• KEY PRINCIPLES
• TYPES OF SIMPLIFICATIONS
• ACCOUNTING TREATMENTS DISALLOWED UNDER IFRS FOR SMEs
• SPECIFIC RECOGNITION AND MEASUREMENT SIMPLIFICATIONS
• SUMMARY OF THE IFRS FOR SMEs
• PRACTICAL EXAMPLES OF DISCLOSURE
• MULTIPLE-CHOICE QUESTIONS
• Answers for Multiple-Choice Questions
• Index
• End User License Agreement