Acca F7: Financial Reporting

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Copyright © 2004 by JOE FANG Updated 2007 Updated 2008 Updated 2010

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FINANCIAL REPORTING
TABLE OF CONTENT

JOE FANG

BASIC PRINCIPLES AND PRESENTATION OF FINANCIAL STATEMENTS ............................................... 4 THE FRAMEWORK FOR THE PREPARATION OF FINANCIAL STATEMENTS ............................................................ 4 IAS 1/FRS 1 PRESENTATION OF FINANCIAL STATEMENTS ............................................................................ 9 FUNDAMENTALS ON DIRECT ADJUSTMENT TO THE FINANCIAL STATEMENTS ...................................................... 14 DOUBLE ENTRIES EXPLAINED ........................................................................................................... 17 IAS 7/FRS 7 CASH FLOW STATEMENT ................................................................................................ 19 NON CURRENT ASSETS ..........................................................................................................................29 IAS 16/FRS 16 PROPERTY, PLANT AND EQUIPMENT ............................................................................... 29 IAS 36/FRS 36 IMPAIRMENT OF ASSETS .............................................................................................. 33 IAS 40/FRS 40 INVESTMENT PROPERTY ............................................................................................. 36 IAS 38/FRS 38 INTANGIBLE ASSETS ................................................................................................... 37 CORE STANDARDS.................................................................................................................................40 IAS 17/FRS 17 LEASES .................................................................................................................. 40 IAS 12/FRS 12 TAXATION .............................................................................................................. 43 IAS 37/FRS 37 PROVISIONS, CONTINGENT LIABILITIES AND ASSETS ............................................................. 47 STANDARDS AFFECTING INCOME STATEMENT ...................................................................................50 IAS 11/FRS 11 CONSTRUCTION CONTRACT ........................................................................................ 50 IAS 18/FRS 18 REVENUE ............................................................................................................... 53 DISCLOSURES AND PRESENTATION OF FINANCIAL STATEMENTS......................................................56 IFRS 5/FRS 5 DISPOSAL OF NON CURRENT ASSET AND DISCONTINUING OPERATIONS ....................................... 56 PERFORMANCE MEASUREMENT..........................................................................................................58 RATIO ANALYSIS...
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