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IFRS 10 Investment Entities
 
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IFRS 10 by Bruce Mackenzie
Views: 1207 Wconsulting
IFRS 10 Consolidated Financial Statements - summary
 
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http://www.ifrsbox.com This is the short summary of IFRS 10 Consolidated Financial Statements. The objective of IFRS 10 is to establish principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities. IFRS 10: - requires to present consolidated financial statements; - defines the principle of control - sets out the accounting requirements for consolidated financial statements and - defines an investment entity and sets out an exception to consolidating particular subsidiaries of an investment entity. An investor controls an investee when It is exposed to or has rights to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Consolidated financial statements are the financial statements of a group presented as those of a single economic entity. Consolidation procedures: Step 1 – Combine like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those of its subsidiaries. Step 2 - Offset or eliminate carrying amount of parent’s investment in subsidiary with parent’s portion of equity of each subsidiary. Step 3 - Offset or eliminate in full intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between companies in the group. Investment entity is an entity that: - Obtains funds or money from one or more investors for the purpose of providing those investor(s) with investment management services; - Its business purpose is to invest funds solely for returns from capital appreciation, investment income, or both; and - It measures and evaluates the performance of substantially all of its investments on a fair value basis. If you’d like to learn how to consolidate, or anything about IFRS in general, please visit http://www.ifrsbox.com and subscribe to our free IFRS mini-course. Thank you!
Views: 100147 Silvia M. (of IFRSbox)
Top changes in IFRS 2013 and 2014
 
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http://www.ifrsbox.com The year 2013 started off with some really significant IFRS amendments that you need to take into account when preparing your IFRS financial statements as at 31 December 2013. Top 5 changes are: #1: Changes in IAS 19 Employee benefits 1.1 New accounting treatment of defined benefit plans in line with IAS 19 Employee benefits Entities no longer apply corridor method for recognizing actuarial gains or losses arising in accounting for defined benefit plans. All remeasurements are fully recognized to other comprehensive income. 1.2 Accounting treatment of termination benefits Termination benefit is simply a benefit received for terminating the employment before the normal retirement date (given certain conditions are met). Here, nothing much changed, but the standard IAS 19 now makes it clearer that when employees need to provide future service in order to get the benefit, then it is NOT a termination benefit. 1.3 Other changes to IAS 19 Employee benefits Apart from the above mentioned changes, there are a few other things to watch out: • Past-service cost related to unvested benefits is recognized immediately after plan amendment and is no longer spread over a future-service period. • We shall be using pre-tax rate (not post-tax rate) in order to discount benefits to their present value. • You need to present slightly more disclosures and the split of benefits than before. #2: New standard IFRS 13 Fair Value Measurement in place Before IFRS 13, guidance on determining the fair value was all over the place: in IAS 39 for financial instruments, in IAS 40 for investment property, in IAS 2 for inventories, etc. Often this guidance was very conflicting and therefore, we have a single standard for fair value measurement. Now, if you see reference to fair value in any other standard, you should be heading to IFRS 13 Fair Value Measurement for its determination. Please watch the video about IFRS 13 here http://www.youtube.com/watch?v=gwjJOBtYUSU #3: New standard IFRS 10 Consolidated Financial Statements IFRS 10 is a completely new standard dealing with the consolidation and it is applicable for the periods starting 1 January 2013 or later. Before 2013, the standard IAS 27 dealt with these issues, but IFRS 10 replaces this part of IAS 27. Currently, you should apply IAS 27 only for the separate financial statements. The main change of IFRS 10 is the new definition of a control. New concept of investment entities This is the change applicable for annual periods beginning on or after 1 January 2014, so you will deal with that at your 2014 closing. IFRS 10 introduces a concept of an "investment entity". An entity must carefully assess whether it meets the definition of an investment entity or not. So if an entity meets the definition of an investment entity, it DOES NOT consolidate its subsidiaries in line with IFRS 3 when it obtains control of another entity. #4: New standard IFRS 11 Joint arrangements IFRS 11 effectively replaces IAS 31 and brings completely new definition of joint control. Also, IFRS 11 removes 3 categories of joint arrangements and sets only 2 of them: • Joint operation • Joint venture Here's the biggest change: proportionate consolidation method permitted by IAS 31 for accounting joint ventures is no longer permitted. #5: New standard IFRS 12 Disclosure of interests in other entities In addition to disclosures about your subsidiaries, associates or joint ventures, you need to disclose lots of information about your interest in other entities too. If you liked this video, please visit http://www.ifrsbox.com and subscribe to our IFRSbox community. Thank you!
IFRS 3 / IFRS 10 Introduction to Consolidation and Group Accounts
 
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http://www.ifrsbox.com Introduction to consolidation and group accounts: There are 6 IFRS dealing with group accounts and consolidation: IAS 27 Separate Financial Statements IAS 28 Investments in Associates IFRS 3 Business Combinations IFRS 10 Consolidated Financial Statements IFRS 11 Joint Arrangements IFRS 12 Disclosure of Interests in Other Entities First, we need to determine what type of investment we have. Then we need to apply the accounting method based on the type of investment: 1. Subsidiaries -- acquisition method + full consolidation 2. Associates -- equity method 3. Joint arrangements -- based on the type: joint venture using equity method and joint operation -- only own share on assets, liabilities, revenues and expenses 4. Other investments -- financial instruments Subscribe to http://www.ifrsbox.com and learn more!
Views: 105179 Silvia M. (of IFRSbox)
What Is IFRS 10?
 
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Under control applying ifrs 10 grant thornton insights. Accounting standards ifrs 10 consolidated financial statements. 34 practical guide to ifrs 10 investment entities exception to ifrs 10 consolidated financial statements. Moving ahead in an ifrs world. A practical guide to implementing. Ifrs 10 1] requires a parent entity (an that controls one or more other entities) to present consolidated financial statements replaces the part of ias 27 and separate addresses accounting for subsidiaries on consolidation. The objective of ifrs 10 is to establish principles for the presentation and preparation consolidated financial statements when an entity controls one or more other entities. Consolidation exceptions and exemptions3 the control definition guidance3. Ifrs standards tracker clearly ifrs 10 consolidated financial statements deloitte. The amendment to ifrs 10 defines an investment entity and introduces exception consolidation. The amendments to ifrs 7 apr 2017 10 determines the content of consolidated financial statements. The control concept in ifrs 10 10, 11 and 12 on consolidation joint arrangements ey. Pwc's application guidance covers the standard, amendments and 10 feb 2017 2. Pwc's inform uk under control? A practical guide to applying ifrs 10 consolidated consolidation package of standards financial statements. The goal of the project is to publish a single ifrs on consolidation replace ias 27 returns from investee. Many funds and similar entities will be exempted from consolidating controlled investees under amendments to ifrs 10, consolidated financial statements. Ifrs 10 consolidated financial statements summary youtube. Ifrs 10 consolidated financial statements. Ifrs 10 consolidated financial statements ifrsbox. Implications for the real estate and construction industries1 ifrs 10, 11 12 are three international financial reporting standards (ifrs) promulgated by accounting board how should you prepare consolidated statements? How to determine whether an entity controls another entity? Find out in 10 (video included) sic consolidation special purpose entities have been combined now represented financialthe amended 29 jul 2014. Googleusercontent search. The aim of ifrs 10 is to establish a single control model that applied all entities including special purpose the accounting standard sets rules for presenting and preparing consolidated financial statements when an entity controls one or more other establishes principles presentation preparation clearly. Accounting standards ifrs 10 consolidated financial statements ias plus iasplus en ifrs10 url? Q webcache. Ifrs 10 consolidated financial statements the change to definition of control in ifrs 10, [ ] is expected have a significant effect on investment 11 and 12 consolidation joint arrangements changing balance sheet. The practical in june 2003, iasb added a project on consolidation to its agenda. Ifrs 10 contains guidance on the following issues when determining who has control 4 a
Views: 109 tell sparky
IFRS 11 Joint Arrangements - summary
 
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http://www.ifrsbox.com This is the short summary of the standard IFRS 11 Joint Arrangements. The objective of this standard is to establish principles for financial reporting by entities that have an interest in arrangements that are controlled jointly (i.e. joint arrangements). Standard IFRS 11 defines joint control as the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. IFRS 11 classifies joint arrangements into 2 categories: 1. Joint ventures – the parties have rights to net assets of the arrangements. The interest in joint venture is accounted for using the equity method under IAS 28. 2. Joint operations – the parties have rights to assets and obligations for the liabilities of the joint arrangement. The joint operator accounts for its assets, liabilities, revenues and expenses (including the share on items incurred jointly).
Views: 32516 Silvia M. (of IFRSbox)
IFRS 3 Business Combinations - Summary
 
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http://www.ifrsbox.com This is the short summary of IFRS 3 Business Combinations. The objective of IFRS 3 is to improve the relevance, reliability and comparability of the information that a reporting entity provides in its financial statements about a business combination and its effects. IFRS 3: • Recognizes and measures the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree; • Recognizes and measures the goodwill acquired in the business combination, or a gain from a bargain purchase; • Determines what information to disclose about the business combination. An investment must constitute a business before we can apply IFRS 3. IFRS 3 requires application of the acquisition method for each business combination. 4 steps: • Step 1: Identifying the acquirer, • Step 2: Determining the acquisition date, • Step 3: Recognizing and measuring the identifiable assets acquired, the liabilities assumed and any non-controlling interest in the acquiree; • Step 4: Recognizing and measuring goodwill or a gain from a bargain purchase. If you’d like to learn how to consolidate, or anything about IFRS in general, please visit http://www.ifrsbox.com and subscribe to our free IFRS mini-course. Thank you!
Views: 98563 Silvia M. (of IFRSbox)
IFRS 10 Consolidated Financial Statements
 
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IFRS 10 outlines the requirements for a parent to consolidate its subsidiaries and present consolidated financial statements. It defines the principle of control, establishes control as the basis for consolidation by means of a 4-step model and sets out how to apply the principle of control to identify whether an investor controls an investee, and therefore must consolidate the investee. IFRS 10 also sets out the accounting requirements for the preparation of consolidated financial statements and defines an investment entity together with the exceptions to consolidating particular subsidiaries of an investment entity. • Describe the criteria for classification of financial instruments. • Describe measurement bases for financial instruments. • Describe, at a high level, the impact of classification and measurement requirement for companies in financial sector.
Views: 771 KPMGmalta
IFRS 2 Share-Based Payment
 
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http://www.ifrsbox.com Get free report Top 7 IFRS Mistakes! This is the short summary of IFRS 2 Share-based Payment. The objective of IFRS 2 is to specify the financial reporting by an entity when it undertakes a share-based payment transaction Share-based payment transaction is a transaction in which the entity either: - Receives goods or services from the supplier (including employee) in a share-based arrangement; or - Incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. Share-based payment arrangement entitles the counterparty to receive either: - Cash or other assets of the entity for amounts based on the price or value of entity's or another group entity's own equity instruments (shares, share options, etc.). These transactions are cash-settled. - Equity instruments of the entity or another group entity -- these transactions are equity-settled. How to recognize share-based payment transactions: - Goods or services received in cash-settled transactions are recognized with the corresponding credit to liabilities; and - Goods or services received in equity-settled transactions are recognized with the corresponding credit to equity. How to measure share-based payment transactions: - At fair value of goods or services received. - If it is impossible to determine (mainly in the transactions with employees), then at fair value of equity instruments granted. Vesting conditions: - If the share-based payment is not vested, then the transaction is recognized immediately at the grant date; - If the share-based payment is vested, then the transaction is recognized over the vesting period. For full summary of IFRS 2 and many other IFRS materials, please check out http:///www.ifrsbox.com
Views: 67783 Silvia M. (of IFRSbox)
ACCA P2 First time adoption (IFRS 1)
 
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ACCA P2 First time adoption (IFRS 1) Free lectures for the ACCA P2 Corporate Reporting Exams
Views: 10388 OpenTuition
IAS 7 Statement of Cash Flows
 
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http://www.ifrsbox.com This is the short summary of IAS 7 Statement of cash flows. The statement of cash flows is the integral part of the financial statements. It presents the movements in cash and cash equivalents over the reporting period. Cash comprises cash on hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. The statement of cash flows shall report cash flows during the period classified by operating, investing and financing activities. Operating activities are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. Investing activities are the acquisition and disposal of long-term assets and other investments not included in cash equivalents. Financing activities are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity. For more information and other IFRS materials, please visit http://www.ifrsbox.com
Views: 67389 Silvia M. (of IFRSbox)
IFRS Views - 06/03/2013
 
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KPMG Luxembourg's Sarah Brook outlines the requirements for investment funds to avail the IFRS consolidation relief.
Views: 398 KPMG Luxembourg
IAS 21 The Effects of Changes in Foreign Exchange Rates
 
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http://www.ifrsbox.com This is the short summary of IAS 21 The Effects of Changes in Foreign Exchange Rates. In today's world, the entities carry out their foreign activities in 2 ways: 1. They have some transactions in foreign currencies, or 2. They Have a foreign operation. An entity can also decide to present its financial statements in some foreign currency other than their own. The objective of IAS 21 is to prescribe • How to include foreign currency transactions and foreign operations in the financial statements of an entity; and • How to translate financial statements into a presentation currency. Functional currency is the currency of the primary economic environment in which the entity operates. It is the own entity's currency and all other currencies are "foreign currencies". The primary economic environment is normally the one in which the entity primarily generates and expends the cash, but more factors needed to be considered, such as the currency in which the sales prices are denominated, etc. Presentation currency is the currency in which the financial statements are presented. How to report transactions in FUNCTIONAL CURRENCY Initially, all foreign currency transactions shall be translated to functional currency by applying the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Subsequently, at the end of each reporting period, you should translate: • All monetary items in foreign currency using the closing rate; • All non-monetary items measured in terms of historical cost using the exchange rate at the date of transaction (historical rate); • All non-monetary items measured at fair value using the exchange rate at the date when the fair value was measured. All exchange rate differences shall be recognized in profit or loss with some exceptions. How to translate financial statements into a PRESENTATION CURRENCY When an entity's functional currency is NOT the currency of a hyperinflationary economy, then an entity should translate: • All assets and liabilities for each statement of financial position presented (including comparatives) using the closing rate at the date of that statement of financial position. • All income and expenses and other comprehensive income items (including comparatives) using the exchange rates at the date of transactions. All resulting exchange differences shall be recognized in other comprehensive income as a separate component of equity. For more information and other IFRS materials, please visit http://www.ifrsbox.com
Views: 60316 Silvia M. (of IFRSbox)
IAS 36 Impairment of Assets
 
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http://www.ifrsbox.com Get "Top 7 IFRS Mistakes" and e-mail updates at http://www.ifrsbox.com The objective of IAS 36 Impairment of assets is to ensure that assets are carried at no more than their recoverable amount and to define how recoverable amount is determined. This summary explains that an asset is impaired when its carrying amount exceeds its recoverable amount. Impairment loss is a difference between asset's recoverable and carrying amount. Then, an entity needs to assess the indicators of impairment at least annually, both from external and internal sources. If there is an indication of impairment, an entity must perform impairment testing and determine asset's recoverable amount. Recoverable amount represents a higher of asset's fair value less cost to sell and value in use. Fair value of an asset is determined in line with the standard IFRS 13 Fair value measurement. Value in use is the present value of the future cash flows expected to be derived from an asset or cash generating unit. This video explains how to estimate future cash flows expected from the asset and how to determine the appropriate discount rate for setting the present value. Once you have calculated the amount of your impairment loss as a difference between asset's carrying amount and it's recoverable amount, you need to recognize this impairment loss in the financial statements based on the model applied. When an entity applies cost model for the asset under review, then the impairment loss is recognized immediately in profit or loss. When an entity carries its assets under review at revalued amount (for example, in accordance with revaluation model in IAS 16), then any impairment loss shall be treated as a revaluation decrease in accordance with that standard. After the recognition of an impairment loss, it is also necessary to adjust depreciation for future periods. Sometimes it's not possible to determine recoverable amount for individual asset and therefore, you need to determine your cash generating unit that is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. This summary also deals with the following situations: - Impairment loss of cash generating units - Impairment loss in business combinations with goodwill - Corporate assets You will also learn about reversals of impairment loss: when and how to do it. Visit my web and enjoy IFRS learning at http://www.ifrsbox.com!
Views: 197708 Silvia M. (of IFRSbox)
Debrief: the IFRS for SMEs Standard
 
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The IFRS Foundation has published a new video in its Debrief series in which Darrel Scott, Member of the International Accounting Standards Board (the Board), provides an overview of the background to the IFRS for SMEs Standard. The Standard was developed specifically for small and medium-sized companies and was first issued in 2009. Darrel explains why there was a need for this Standard and how it differs from full IFRS Standards. The Board did a comprehensive review of the IFRS for SMEs Standard in 2015 to respond to any implementation issues that arose after the Standard had been in use for some years. Darrel explains that the overall conclusion was that the Standard was working well in practice and discusses the need for some minor changes and clarifications. The amended Standard is effective from 2017. Further information about the IFRS for SMEs Standard can be found here: http://www.ifrs.org/IFRS-for-SMEs/Pages/IFRS-for-SMEs.aspx
Views: 3071 IFRS Foundation
IFRS for SMEs 2015 Webinar
 
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IFRS for SMEs 2015 Webinar
Views: 840 Wconsulting
CIMA F2 Disclosure of interests in other entities (IFRS 12)
 
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CIMA F2 Disclosure of interests in other entities (IFRS 12) Free lectures for the CIMA F2 Advanced Financial Reporting Exams
Views: 1332 OpenTuition
Fully depreciated PPE still in use (IAS 8)
 
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http://www.ifrsbox.com Many production companies still use their fully depreciated property, plant and equipment. It means that the useful lives of these assets were incorrectly estimated. The standard IAS 16 defines the useful life as either: a) The period over which an asset is expected to be available for use by an entity, or b) The number of production or similar units expected to be obtained from the asset by an entity. Standard IAS 16 requires entities to review assets' useful lives at least at each financial year-end. Still, many entities simply forget it. They just book the annual depreciation charge based on the rates determined for some group of assets and that's it. They do not revise the useful lives of their assets and as a result, they end up with using fully depreciated assets in the production process. How to fix this situation? Solution 1: Review useful lives at each financial year-end. Treat it as a change in accounting estimate. Useful life is an accounting estimate and if you find out that it is different from what you initially set, you need to book this change in line with the standard IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. It means that you simply set the new remaining useful life, take the carrying amount and recognize the depreciation charge based on the carrying amount and new remaining useful life. If your assets have been fully depreciated and you did not review the useful life of PPE in the past, there is an accounting error resulting from failed application of IAS 16. If this error is material, you need to correct it -- this video shows you the example of correcting the errors in line with IAS 8. Solution 2: Revalue your assets to their fair value. Standard IAS 16 permits 2 models for subsequent measurement of your property, plant and equipment: cost model and revaluation model. You can therefore change your accounting policy and switch from cost model to revaluation model in order to keep your assets at their fair value. However, I do NOT recommend this option because it would not reflect the economic reality of the production assets in the best way. Please watch the video and find out more. Subscribe to our ***FREE*** IFRS newsletter at http://www.ifrsbox.com
Views: 14862 Silvia M. (of IFRSbox)
CFAP AAFR Lecture 03 - IAS 37, Provisions, Contingent Liabilities and Contingent Assets
 
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CFAP AAFR Lecture 03 TOPIC: IAS 37, Provisions, Contingent Liabilities and Contingent Assets SUBJECT: CFAP 1 Advanced Accounting and Financial Reporting OBJECTIVE: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com #TAXAAM #ICAP #CA Final #CFAP 1
ACCA P2 Disclosure of interest in other entities (IFRS 12)
 
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ACCA P2 Disclosure of interest in other entities (IFRS 12) Free lectures for the ACCA P2 Corporate Reporting Exams
Views: 1118 OpenTuition
CFAP AAFR Lecture 28 - IAS 39 & IFRS 9 - Financial assets, Impairment of financial instruments
 
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CFAP AAFR Lecture 28 Topic : IAS 39 & IFRS 9 - Financial assets, Impairment of financial instruments Subject : CFAP 1 Advanced Accounting and Financial Reporting Objective: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com
NEW: IFRS 12, Disclosure of Interests in Other Entities
 
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W Consulting IFRS Quickies IFRS 12
Views: 3703 Wconsulting
IAS 36 Impairment of Assets__Keep It Simple
 
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Subscribe and watch more on MINDMAPLAB: http://bit.ly/2J6Eggr Chat with the Creator: https://youtu.be/addme/LnvNDhGxDRv44QZFZWV00f3pDLduXQ http://www.MindMapLab.com presents the most simplified video of #IAS36 Impairment of Assets you have ever watched. The #mindmaplab is an educational platform where you can get the summarized/simplified form ( covering all the areas ) of lengthy and complex subjects/chapters which otherwise most of us finds difficult to absorb at the first sight. Visit our website:http://www.mindmaplab.com Join us on: https://www.facebook.com/mindmaplab https://www.instagram.com/mindmaplab https://www.twitter.com/mindmaplab About this video: IAS 36 – Objective and Scope  IAS 36 ensures that assets are reported on the statement of financial position at no more than the entity can recover from their use or sale.  May be an impairment loss—“the amount by which the carrying amount of an asset or a cash-generating unit (CGU) exceeds its recoverable amount”  IAS 36 excludes: o inventories o assets arising from construction contracts o employee benefit assets o deferred tax assets o financial assets under IAS 39 o non-current assets or disposal groups held-for-sale o investment property, biological assets based on FV measurements IAS 36 – Identifying an Asset that May Be Impaired  Assets o end of each reporting period o assess for indications of impairment o if indications of impairment, test for impairment  Intangibles with indefinite lives, those not yet ready for use, and goodwill o annually – test for impairment regardless of indications of impairment Testing for impairment:  Estimate asset/CGU’s recoverable amount. If recoverable amount is greater than the carrying amount – no impairment.  Recoverable amount - higher of: o fair value less costs to sell, and o value in use  For assets that do not generate independent cash flows on their own – group into cash-generating units (CGUs)  CGU – “the smallest identifiable group of assets that generates cash flows that are largely independent of the cash flows from other assets or groups of assets”  Fair value less costs to sell = proceeds from arm’s-length sale of an asset/CGU between knowledgeable willing parties less incremental direct costs of its disposal  Best measure: arm’s-length bargained price in a binding sales agreement in an active market.  Hierarchy of appropriate methods to establish fair value  Disposal costs: e.g., legal costs, transaction taxes, removal costs, costs to put in condition for sale  Value in use = present value of the future cash flows expected from asset/CGU’s use and ultimate disposal  Two approaches: o Most likely cash flows from use and disposal discounted using risk-adjusted discount rate. o Probability-weighted cash flows from use and disposal discounted using remaining risk-adjusted discount rate.  IAS 36 – Recognizing and Measuring an Impairment Loss for CGUs and Goodwill  Goodwill allocated to a CGU or group of CGUs not larger than an “operating segment” that is: o expected to benefit from synergies of a combination o at lowest level in organization that manages the goodwill o not on an arbitrary basis  If part of CGU with allocated goodwill is sold: o allocate goodwill between portion sold and portion remaining o base on relative value of the CGU sold to portion retained  IAS 36 – Reversing an Impairment Loss  No reversal of impairment loss for G/W  For other assets, reversal permitted if estimates used to determine recoverable amount have changed  For an individual asset: o reversal limited to an increase to what asset would have been, net of depreciation/amortization, if no impairment had been recognized initially o unless accounted for under the revaluation model – when full reversal is permitted Hashtags: #accounting, #acca, #ifrs, #videolectures, #tutorial, #charteredaccountant, #gaap external and internal illustrative examples, calculation gaap vs ifrs ias in hindi ifrsbox chartered accountant standards tutorial self study online-study simplified cpt ipcc cfa cpa ppt full text present valve of future cash flows carrying amount
Views: 3537 MindMap
IFRS Course | Diploma in IFRS from ACCA London | Ind AS Course | ifrs certification
 
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IFRS Course by Expert. Appear for Diploma in IFRS Exam from ACCA London. Visit to learn more https://meraskill.com/ifrs?utm_medium=referral&utm_source=youtube&utm_campaign=ifrs_video&utm_content=summary WhatsApp 8692900017 What our course covers : Introduction IFRS IAS 1st time adaptation Formats of financial statement Income Group Revenue Recognition Asset Group PPE Lease Impairment Government Grants Borrowing cost Held for Sale Investment Property Intangible Assets Misc Topics Policy estimates errors Provision, Contingent Liability & Asset Adjustment events Related parties Inventory Income Taxes Agriculture Consolidation P&L Goodwill Intercompany transaction Consolidation Balance Sheet Statement of change in equity(SOCIE) Associates Joint Venture(JV) Separate Financial Statement Interim Financial Statement Financial Instrument Financial assets Financial liability Employee group Shares based payment EPS Employee benefit Operating Segment Advanced Topics, Discussion & Webinars IND AS Conversion Simplified List of IFRS IFRS 1 First-time Adoption of IFRS IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale & Discontinued operations IFRS 6 Exploration for and Evaluation of Mineral Assets IFRS 7 Financial Instruments: Disclosures IFRS 8 Operating Segments IFRS 9 Financial Instruments IFRS 10 Consolidated Financial Statements IFRS 11 Joint Arrangements IFRS 12 Disclosure of Interests in Other Entities IFRS 13 Fair Value Measurement List of International Accounting Standards IAS 1 Presentation of Financial Statements IAS 2 Inventories IAS 7 Statement of Cash Flows IAS 8 Accounting Policies, Changes in Accounting Estimates & Errors IAS 10 Events After the Reporting IAS 11 Construction Contracts IAS 12 Income Taxes IAS 16 Property, Plant and Equipment IAS 17 Leases IAS 18 Revenue IAS 19 Employee Benefits IAS 20 Accounting for Government Grants and Disclosure of Government Assistance IAS 21 The Effects of Changes in Foreign Exchange Rates IAS 23 Borrowing Costs IAS 24 Related Party Disclosures IAS 26 Accounting and Reporting by Retirement Benefit Plans IAS 27 Separate Financial Statements IAS 28 Investments in Associates & Joint Ventures IAS 29 Financial Reporting in Hyperinflationary Economies IAS 31 Interests In Joint Ventures IAS 32 Financial Instruments: Presentation IAS 33 Earnings Per Share IAS 36 Impairment of Assete IAS 37 Provisions, Contingent Liabilities and Contingent Assets IAS 38 Intangible Assets IAS 39 Financial Instruments: Recognition and Measurement – Superseded by IFRS 9 effective 2015 IAS 40 Investment Property IAS 41 Agriculture MeraSkill is your Skill partner that provides Expert -led live Online classes for learners who want to learn from Industry experts in the field. Sessions are self-paced as well as Live. We provided learning material along with all our courses. IFRS & Ind AS topic are covered extensively in our IFRS & Ind AS Online course. For more information, please write to us at [email protected] Call or WhatsApp us at : +91 8692900017
Views: 7091 Mera Skill
IAS 28 Investments in Associates and Joint Ventures
 
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http://www.ifrsbox.com This is the short summary of the standard IAS 28 Investments in Associates and Joint Ventures .The objective of IAS 28 is: • To prescribe the accounting for investments in associates, and • To set out the requirements for the application of the equity method when accounting for investments in associates and joint ventures. Standard IAS 28 defines significant influence as the power to participate in the financial and operating policy decisions of the investee, but is NOT a control or joint control of those policies. The main indicator of significant influence is holding (directly or indirectly) more than 20% of the voting power of the investee. The basic principles of equity method are: 1. The investment in an associate or joint venture is recognized at cost on initial recognition (acquisition date). 2. The carrying amount of the investment is increased or decreased by the investor’s share on investee’s net profit or loss after the acquisition date. 3. When investee distributes some dividends to the investor, then this distribution decreases the carrying amount of the investment. IAS 28 sets also exemptions from equity method, when to discontinue equity method and equity method procedures.
Views: 53079 Silvia M. (of IFRSbox)
Accounting for Investments (Equity and Debt Securities)
 
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This video provides an overview of the accounting rules and classifications for different types of investments. Investments can be broadly grouped into two types: debt investments and equity investments. Debt investments can be held-to-maturity (presented on the Balance Sheet at amortized cost, with changes in fair value not affecting Net Income), available-for-sale (presented on the Balance Sheet at fair value, with unrealized gains or losses bypassing the Income Statement and flowing through Other Comprehensive Income), or Trading (presented on the Balance Sheet at fair value, with unrealized gains or losses affecting Net Income. Equity investments are treated as Trading Securities according to the Fair Value Method (if the investor owns less than 20% of the investee), which marks the investment to market on the Balance Sheet and has unrealized gains or losses flow through Net Income. There is a practicability exception, however: if the fair value cannot be determined, the investment is presented on the Balance Sheet at cost, minus any impairments. If the investor owns between 20% and 50% of the investee the Equity Method is used; with this method, the investor does not recognize dividend revenue but instead recognizes a proportionate share of the investee's Net Income. If the investor owns more than 50% of the investee, the investor must consolidate the investee (the two entities are treated as one consolidated entity). Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 16134 Edspira
Law on Investment Entities Introduction
 
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Professor Alastair Hudson introduces the Law on Investment Entities course. Law of Financial Crime Modules: • Module A: The legal nature of investment entities • Module B: Collective investment schemes • Module C: Communal investment schemes • Module D: Investor protection Find out more about this course here: http://www.londoninternational.ac.uk/courses/postgraduate/llm-postgraduate-laws-llm-postgraduate-diploma-postgraduate-certificate#structure Find out more about the course convenor Professor Alastair Hudson: https://socialsciences.exeter.ac.uk/law/staff/hudson/
2 minutes on IFRS 12 with Carolyn Anthony
 
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Carolyn Anthony, Partner, National and Global Accounting Consulting Services, discusses IFFRS 12, the standard that sets out the disclosure requirements about a company's interests in subsidiaries, joint arrangements, associates and unconsolidated structured entities.
Views: 832 PwCCanada
Lesson 5 - Consolidated Entries - Elimination of Intra-Entity Payables
 
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For more videos like this go to www.patrickleemsa.com. ___________________________________ NETWORK WITH ME! PATRICKLEECPA Twitter - https://twitter.com/patrickleecpa Website – https://www.patrickleecmsa.com ___________________________________________ Send a letter or send something cool about how you’re using these videos. Patrick Lee, MSA PO Box 936 Winfield, Kansas 67156 ___________________________________________ WORK WITH ME! CONTACT US: [email protected]
Views: 4062 Patrick Lee
IFRS Course | IFRS Course ACCA London | IFRS course ACCA
 
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Learn IFRS and appear for Diploma in IFRS exam from ACCA London. Visit Website for more details - https://meraskill.com/ifrs?utm_medium=referral&utm_source=youtube&utm_campaign=ifrs_video&utm_content=course_details WhatsApp 8692900017 IFRS are 1 to 13 total 13 nos, in Dip IFRS syllabus 12 only (not in syllabus insurance contracts) IAS 1 to 41 of which 13 are deleted, so total IAS 28 of which in Dip IFRS syllabus 25 only (not in syllabus hyperinflation, cashflow, investment by retirement funds) What our course covers : Introduction to IFRS & IndAS IFRS IAS 1st time adaptation Formats of financial statement Income Group Revenue Recognition Asset Group PPE Lease Impairment Government Grants Borrowing cost Held for Sale Investment Property Intangible Assets Misc Topics Policy estimates errors Provision, Contingent Liability & Asset Adjustment events Related parties Inventory Income Taxes Agriculture Consolidation P&L Goodwill Intercompany transaction Consolidation Balance Sheet Statement of change in equity(SOCIE) Associates Joint Venture(JV) Separate Financial Statement Interim Financial Statement Financial Instrument Financial assets Financial liability Employee group Shares based payment EPS Employee benefit Operating Segment Advanced Topics, Discussion & Webinars IND AS Conversion Simplified List of IFRS IFRS 1 First-time Adoption of IFRS IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale & Discontinued operations IFRS 6 Exploration for and Evaluation of Mineral Assets IFRS 7 Financial Instruments: Disclosures IFRS 8 Operating Segments IFRS 9 Financial Instruments IFRS 10 Consolidated Financial Statements IFRS 11 Joint Arrangements IFRS 12 Disclosure of Interests in Other Entities IFRS 13 Fair Value Measurement List of International Accounting Standards IAS 1 Presentation of Financial Statements IAS 2 Inventories IAS 7 Statement of Cash Flows IAS 8 Accounting Policies, Changes in Accounting Estimates & Errors IAS 10 Events After the Reporting IAS 11 Construction Contracts IAS 12 Income Taxes IAS 16 Property, Plant and Equipment IAS 17 Leases IAS 18 Revenue IAS 19 Employee Benefits IAS 20 Accounting for Government Grants and Disclosure of Government Assistance IAS 21 The Effects of Changes in Foreign Exchange Rates IAS 23 Borrowing Costs IAS 24 Related Party Disclosures IAS 26 Accounting and Reporting by Retirement Benefit Plans IAS 27 Separate Financial Statements IAS 28 Investments in Associates & Joint Ventures IAS 29 Financial Reporting in Hyperinflationary Economies IAS 31 Interests In Joint Ventures IAS 32 Financial Instruments: Presentation IAS 33 Earnings Per Share IAS 36 Impairment of Assete IAS 37 Provisions, Contingent Liabilities and Contingent Assets IAS 38 Intangible Assets IAS 39 Financial Instruments: Recognition and Measurement – Superseded by IFRS 9 effective 2015 IAS 40 Investment Property IAS 41 Agriculture MeraSkill is your Skill partner that provides Expert -led live Online classes for learners who want to learn from Industry experts in the field. Sessions are self-paced as well as Live. We provided learning material along with all our courses. IFRS & Ind AS topic are covered extensively in our IFRS & Ind AS Online course. For more information, please write to us at [email protected] Call or WhatsApp us at : +91 8692900017
Views: 11998 Mera Skill
IFRS - IAS 1 - Presentation of Financial Statements
 
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An overview of the requirements of IAS 1 - Presentation of Financial Statements along with applicability for Indian entities under Ind AS. Courtesy: The Institute of Computer Accountants (www.icajobguarantee.com)
Views: 143816 Vikash Goel
Example: How To Consolidate
 
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http://www.ifrsbox.com This is the “consolidation example” that teaches you how to consolidate step by step in line with IFRS 10 Consolidated financial statements. Although it’s quite simple, you’ll learn how to deal with non-controlling interest and goodwill, too. If you’d like to learn how to consolidate in details, or anything about IFRS in general, please visit http://www.ifrsbox.com and subscribe to our free IFRS mini-course. Thank you!
Views: 101440 Silvia M. (of IFRSbox)
Variable Interest Entity | Advanced Accounting | CPA Exam FAR | Ch 3 P 1
 
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Variable interest entity, Enron, special purpose entity Accounting for stock acquisitions, parent, subsidiary, noncontrolling interest, elimination entries goodwill impairment, advanced accounting, asset acquisition, stock acquisition, mergers, consolidations, acquisitions, consolidated financial statements, acquirer, acquiree, Investment in Subsidiary, CPA exam
Call fund  complies as Portfolio Investment Entity
 
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The National Bank will tomorrow launch a new call fund that complies with Portfolio Investment Entity (PIE) rules. The fund will operate just like an on-call account and be attractive to savers paying income tax at a rate of 39%.The National Bank Call Fund will invest only in call deposits with ANZ National Bank Ltd and have no entry, exit or management fees. It is accessible by National Bank customers via the internet, over the phone and at any National Bank branch. "Effectively, tax on your income from the fund can be lower than tax on income from bank deposits, which for many investors is 39%," National Bank Retail Banking Managing Director Craig Sims said. The fund will be available from April 1 and offer a rate of 8.1% with a minimum investment of NZ$5,000. National Bank said PIE status means that for a 39% taxpayer the 8.1% return is equal to that from a non-PIE account bank account paying 9.3%.
Views: 337 ofInterestNZ
IFRS Update: IFRS 13 Fair Value Measurement
 
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Executive IFRS workshop for regulators, 3-7 June 2013, Vienna Presented by Mariela Isern, Senior Technical Manager, IASB The CFRR and the International Accounting Standards Board (IASB) jointly organized a five-day Executive IFRS Seminar for financial regulators from 3 to 7 June 2013 in Vienna. Financial regulators’ ability to effectively supervise the institutions which they are responsible for overseeing and, in particular, to monitor that these institutions are meeting the required prudential standards, including the internationally agreed Basel III rules and the EU’s Solvency II framework for insurance, relies on their understanding of the financial information submitted to them. Most of this information is (directly or indirectly) taken from the financial statements produced by banks and insurance companies. In the EU and in many other countries around the world, these financial statements are drawn up using International Financial Reporting Standards (IFRS) set by the IASB. However, many financial regulators do not come from an accounting background and have only an imperfect understanding of the principles behind IFRS and of the judgments that are made when the reporting standards are applied in practice. This limits their ability to make full use of the information contained in bank and insurance company financial statements, so making them less effective regulators. More about the workshop: https://tinyurl.com/ybhn9e7m More about REPARIS Program: https://tinyurl.com/p5pavhp Visit us at http://worldbank.org/cfrr
Views: 349 WorldBank CFRR
IFRS Webinar Series - The New AASB 9 Financial Instruments -  Impairment Requirements
 
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BDO IFRS Advisory Partner, Aletta Boshoff presents - The New AASB 9 Financial Instruments - Impairment Requirements
Views: 874 BDO Australia
CIMA F1 IFRS 13 Fair Value Measurement
 
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CIMA F1 IFRS 13 Fair value Measurement Free lectures for CIMA F1 Financial Reporting and Taxation
Views: 2206 OpenTuition
IFRS 10   Consolidated Financial Statements mind map
 
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This is one of the videos available to students of the CAP2 Financial Reporting and FAE Performance Measurement courses. For full course information, please visit: http://www.charterededucation.com/ To connect with us on Facebook, like our page: https://www.facebook.com/CharteredEd To stay in the loop with our chartered accountant course update, follow us on Twitter: http://twitter.com/Chartered If you prefer using LinkedIn, follow out updates on: https://www.linkedin.com/company/chartered-education
Views: 11697 CharteredEducation.com
CFAP AAFR Lecture 24-- IAS 32 Financial Instruments presentation,
 
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CFAP AAFR Lecture Topic : IAS 32 Financial Instruments presentation Subject : CFAP 1 Advanced Accounting and Financial Reporting Objective: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com
CFAP AAFR Lecture 01- Orientation, syllabus, study plan
 
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CFAP AAFR Lecture 1 Topic : Orientation, syllabus, study plan Subject : CFAP 1 Advanced Accounting and Financial Reporting Objective: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com #taxaam #ICAP #CA FInal #CFAP 1
IFRS 10 CA Academy Part 2
 
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Uploaded with Free Video Converter from Freemake http://www.freemake.com/free_video_converter/
Views: 6111 caacademy1
CFAP AAFR Lecture 13 - Consolidation of financial statements, Lecture 04, IFRS 10, IFRS 11, IFRS 12
 
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CFAP AAFR Lecture 13 TOPIC: Consolidation of financial statements, Lecture 04 "IFRS 10, IFRS 11 and IFRS 12 are three International Financial Reporting Standards promulgated by the International Accounting Standards Board providing accounting guidance related to consolidation and joint ventures." SUBJECT: CFAP 1 Advanced Accounting and Financial Reporting OBJECTIVE: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com #TAXAAM #ICAP #CA Final #CFAP 1
ACCA P2 Small and medium sized entities
 
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ACCA P2 Small and medium sized entities Free lectures for the ACCA P2 Corporate Reporting Exams
Views: 5484 OpenTuition
What is FUND ACCOUNTING? What does FUND ACCOUNTING mean? FUND ACCOUNTING meaning & explanation
 
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What is FUND ACCOUNTING? What does FUND ACCOUNTING mean? FUND ACCOUNTING meaning - FUND ACCOUNTING definition - FUND ACCOUNTING explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Fund accounting is an accounting system emphasizing accountability rather than profitability, used by non-profit organizations and governments. In this system, a fund is a self-balancing set of accounts, segregated for specific purposes in accordance with laws and regulations or special restrictions and limitations. The label, fund accounting, has also been applied to investment accounting, portfolio accounting or securities accounting – all synonyms describing the process of accounting for a portfolio of investments such as securities, commodities and/or real estate held in an investment fund such as a mutual fund or hedge fund. Investment accounting, however, is a different system, unrelated to government and nonprofit fund accounting. Nonprofit organizations and government agencies have special requirements to show, in financial statements and reports, how money is spent, rather than how much profit was earned. Unlike profit oriented businesses, which use a single set of self-balancing accounts (or general ledger), nonprofits can have more than one general ledger (or fund), depending on their financial reporting requirements. An accountant for such an entity must be able to produce reports detailing the expenditures and revenues for each of the organization's individual funds, and reports that summarize the organization's financial activities across all of its funds. A school system, for example, receives a grant from the state to support a new special education initiative, another grant from the federal government for a school lunch program, and an annuity to award teachers working on research projects. At periodic intervals, the school system issues a report to the state about the special education program, a report to a federal agency about the school lunch program, and a report to another authority about the research program. Each of these programs has its own unique reporting requirements, so the school system needs a method to separately identify the related revenues and expenditures. This is done by establishing separate funds, each with its own chart of accounts.
Views: 17983 The Audiopedia
ACCA P2 Agriculture (IAS 41)
 
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ACCA P2 Agriculture (IAS 41) Free lectures for the ACCA P2 Corporate Reporting Exams
Views: 13394 OpenTuition
IAS 32 and IFRS 7 Amendments - IFRS Quickies
 
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In December 2011, The IASB issued amendments to IAS 32 Financial Instruments: Presentation and IFRS 7 Financial Instruments: Disclosures. The amendments require entities to disclose gross amounts subject to rights of set-off, amounts set off in accordance with the accounting standards followed, and the related net credit exposure. This information will help investors understand the extent to which an entity has set off in its balance sheet and the effects of rights of set-off on the entity's rights and obligations. This video highlights the changes that have been made to these two standards.
Views: 5984 Wconsulting
CFAP AAFR Lecture 12 - Consolidation of financial statements, Lecture 03, IFRS 10, IFRS 11, IFRS 12
 
02:07:44
CFAP AAFR Lecture 12 TOPIC: Consolidation of financial statements, Lecture 03, "IFRS 10, IFRS 11 and IFRS 12 are three International Financial Reporting Standards promulgated by the International Accounting Standards Board providing accounting guidance related to consolidation and joint ventures." SUBJECT: CFAP 1 Advanced Accounting and Financial Reporting OBJECTIVE: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com #TAXAAM #ICAP #CA Final #CFAP 1
How to Make a Consolidated Balance Sheet with Noncontrolling Interest
 
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This video shows how to make a consolidated balance sheet when one company acquires more than 50% but less than 100% of another company. The accounting is slightly different from a 100% acquisition because the purchaser must create a stockholders' equity account called noncontrolling interest, which represents the minority shareholder's claims against the net assets of the target corporation (e.g., if your firm acquires 70% of a target, you must consolidated 100% of the target's assets and liabilities but then recognize a noncontrolling interest for the shareholders who own the remaining 30% of the target). The consolidated balance sheet presents the assets and liabilities of the combined entity, but it is not as simple as adding the figures from the 2 separate balance sheets together (this would result in double-counting). To create the consolidated balance sheet, one must make a series of adjusting and eliminating entries that do the following: 1. Eliminate the purchaser's investment in the target 2. Eliminate the target's stockholders' equity accounts 3. Step up the target's assets to their fair value 4. Recognize any goodwill 5. Recognize the noncontrolling interest Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 13507 Edspira
Consolidated Balance Sheet | Elimination of Investment |Advanced Accounting |CPA Exam FAR | Ch 3 P 2
 
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Accounting for stock acquisitions, parent, subsidiary, noncontrolling interest, elimination entries goodwill impairment, advanced accounting, asset acquisition, stock acquisition, mergers, consolidations, acquisitions, consolidated financial statements, acquirer, acquiree, Investment in Subsidiary, CPA exam, Variable interest entity, Enron, special purpose entity

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