Frequently asked questions in IFRS
A concise FAQ guide to IFRS principles and practices Co-written by Steven Collings, winner of Accounting Technician of the Year at the British Accountancy Awards 2011, this book is a comprehensive guide to International Financial Reporting Standards (IFRS) which became mandatory in the EU in 2005, a...
| Main Author: | |
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| Format: | eBook |
| Language: | Inglés |
| Published: |
West Sussex, U.K. :
Wiley
2013.
Chichester, West Sussex : 2013. |
| Edition: | 1st edition |
| Series: | Gale eBooks
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| Subjects: | |
| See on Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009628253706719 |
Table of Contents:
- Cover; Title Page; Copyright; Contents; About the Author; Acknowledgements; Preface; Foreword; Frequently Asked Questions; Introduction-What is IFRS?; What exactly is IFRS?; Chapter 1 What is the Role of the International Accounting Standards Board (IASB)?; What exactly does the IASB do and what are its objectives?; Answer; Chapter 2 Frequently Asked Questions; 1.What is the Conceptual Framework?; Answer; 2.What are the qualitative characteristics of financial statements?; Answer; 3. What are the elements of the financial statements?; Answer
- 4. Can you change accounting policies and, if so, how do you do it?Answer; 5.What are accounting estimates and how are these accounted for?; Answer; 6.What is defined as current and non-current under IFRS?; Answer; 7.What happens when an entity adopts IFRS for the first time?; Answer; 8. What happens when one company acquires another company?; Answer; 9.What are step acquisitions?; Answer; 10.What are deemed disposals in business combinations?; Answer; 11.Why are consolidated financial statements prepared and how do these differ from separate financial statements?; Answer
- 12.How is an associate defined under IFRS?Answer; 13.How do you account for an associate under IFRS?; Answer; 14.What are joint arrangements and joint ventures?; Answer; 15.How do you account for a joint venture under IFRS?; Answer; 16.How does an entity deal with exchange rate differences?; Answer; 17.How and when does an entity recognize a non-current tangible asset?; Answer; 18. What is the accounting treatment for non-current assets held for sale?; Answer; 19.Can internally generated goodwill be recognized on the statement of financial position?; Answer
- 20.What are intangible non-current assets, other than goodwill?Answer; 21.How does an entity deal with investment property in the statement of financial position?; Answer; 22.What is an impairment test?; Answer; 23. How does an entity account for borrowing costs (interest) incurred whilst constructing an asset?; Answer; 24.What is the difference between a revaluation of property, plant and equipment, and the revaluation model for investment property?; Answer; 25.What distinguishes whether an asset to be disposed of is classified as held for sale?; Answer
- 26.What are the accounting principles under IFRS for inventories?Answer; 27. If a company enters into construction contracts, how does it account for these?; Answer; 28. What are the rules where leases are concerned?; Answer; 29.Are there any changes planned for lease accounting?; Answer; 30.When a company receives a government grant, how does it account for this?; Answer; 31. What are the different categories of revenue under IFRS and how do they differ from gains?; Answer; 32. How does a company recognize revenue in its income statement/statement of profit or loss?; Answer
- 33. What is the difference between current and deferred tax?
