The example disclosures in this supplement relate to a listed corporation in the . Practical guide to Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 for interest rate benchmark (IBOR) reform The IASB has issued amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 that address issues arising during the reform of benchmark interest rates including the replacement of one benchmark rate with an alternative one. View IAS 10 Examples 2020.pdf from FRK 221 at University of Pretoria. Includes an appendix showing example disclosures under IFRS 3 (revised). IAS 10 BC International Accounting Standard 10 Events after the Reporting Period Objective 1 The objective of this Standard is to prescribe: (a) when an entity should adjust its financial statements for events after the reporting period; and (b) the disclosures that an entity should give about the date when the financial statements were IAS 10.21 Where non-adjusting events occurring after … The implementation guidance to IAS 1 contains illustrative examples of acceptable formats. year in which it adopts IFRS 16 with a date of initial application of 1 January 2019. Date de création : 05/02/08 Dernière mise à jour : 16/10/08 09:58 Cas 2 - IAS 16 et IAS 36 - Immobilisations corporelles (EXERCICES-CORRIGES IAS et IFRS) amortissements, depreciations, Ias 16, Ias 36, immobilisations corporelles Cas 02 - IAS 16 et IAS 36 - … IAS 10.19 If the entity received information after the reporting period about conditions that existed at the end of the reporting period, has it updated disclosures that relate to those conditions, in the light of the new information? ED 10 CONSOLIDATED FINANCIAL STATEMENTS [DRAFT] ILLUSTRATIVE EXAMPLES INTRODUCTION 4 EXAMPLE 1 – Basis of control and related accounting consequences 4 EXAMPLE 2 – Nature and extent of involvement in unconsolidated structured entities 6 EXAMPLE 3 – Risk disclosures relating to unconsolidated structured entities 11 1-4) Definitions (paras. Adjusting events are those providing evidence of conditions existing at the end of the reporting period, whereas non-adjusting events are indicative of conditions arising after the reporting period (the latter being disclosed where material). The entity also sells goods to a foreign customer for 10.5m on 30 September 2008, when the exchange rate was 1.75 to $1. 27 IPSAS 1 IPSAS 1, “Presentation of Financial Statements” (IPSAS 1) is set out in paragraphs PUBLIC SECTOR 1−155 and Appendices A−B. BC14-16) Interaction with requirements for impaired assets (para. To give a definitive indication of the areas students will need to be aware of in relation to IAS for future CIE examinations. IAS 10 Events after the reporting period FRK 221: Learning Area 1 A quick recap Events after the reporting Schedule 1. Financial statements disclose corresponding information for the preceding period (comparatives), unless a standard or interpretation permits or requires otherwise. This document is designed to help centres in their delivery of International Accounting Standards (IAS) to students. IAS 10 contains requirements for when events after the end of the reporting period should be adjusted in the financial statements. The illustrative examples that are pertinent to you include IE 1 to IE 31 (examples 1 to 6). stream << eXample 2 Parent owns 80% of Subsidiary (a CGU). A complete set of financial statements includes: equity or as liabilities). /Contents 3 0 R Illustrative IFRS corporate consolidated financial statements for 2009 year ends Illustrative set of consolidated financial statements for an existing preparer of IFRS. IAS 10 Events after the Reporting Period provides guidance as to which events after the balance sheet date should lead to adjustments in the financial statements and which events shall be disclosed in the notes to financial statements. All the paragraphs have equal authority. IAS 21 does not specify where exchange gains and losses should be shown in the statement of comprehensive income. Practical Example - 1 The entity will record a sale and trade receivable of $6m. The implementation guidance to IAS 1 contains illustrative examples of acceptable formats. Solution Example 2 Per paragraph 11 of IAS 10, this is a non-adjusting event. s����˯��=��3oXڌC�~�%��ω�f�������a+=�(l�ؼ^���".7̲������K4��*�S������t.�d���鑢2�KK���� =���V4,b#Ǩ�;�~� ���(�6-j�f�����翶��N ���c�T��=����L��l�s�[,9)!�ɶ�HZ*���q��k�E���w-t/�T�pN�^ ICAEW guides and support Factsheets. Interests in Other Entities Financial Reporting Faculty, 30 January 2017 In May 2011, the IASB published a ‘package of five’ new and revised standards providing updated guidance on the accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates: IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011) and IAS 28 (2011). IAS 10 Events after the Reporting Period 2017 - 07 2 Recognition and measurement Presentation and disclosure An entity shall present and disclose information that enables users of the financial statements to evaluate the effects of events after reporting period: In the Notes to the financial statement: 0� /Type /Page BC14-16) Interaction with requirements for impaired assets (para. To give a definitive indication of the areas students will need to be aware of in relation to IAS for future CIE examinations. - Part II includes an illustrative example of a … IAS 38 Intangible Assets – Summary with Examples – PDF October 1, 2019 IAS 10 Events after the Reporting Period (VIDEO) October 1, 2019 IAS 7 Statement of Cash Flows – Summary – PDF … The decline in fair value does not 2. IAS 1.10, 11, 38-38B, 40A-40D IAS 1.10 Key principles There is no prescribed format for the financial statements but there are minimum presentation and disclosure requirements. ; It defines both adjusting and non-adjusting events. F.6.3 Illustrative example of applying the approach in Question F.6.2 F.6.4 Hedge accounting: premium or discount on forward exchange contract F.6.5 IAS 39 and IAS 21 Fair value hedge of asset measured at cost SECTION G OTHER G.1 Disclosure of changes in fair value G.2 IAS 39 and IAS 7 Hedge accounting: statements of cash flows This publication is presented in two parts. disclosure checklist and IAS 34 application guidance. This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions. IAS 40 Investment Property, defines and sets out rules on accounting for Investment Property.In summary Investment Property differs from other property, which is used in the production or supply of goods or for administrative proposes or held for sale in ordinary course of business. Earlier application is encouraged. << F.6.3 Illustrative example of applying the approach in Question F.6.2 F.6.4 Hedge accounting: premium or discount on forward exchange contract F.6.5 IAS 39 and IAS 21 Fair value hedge of asset measured at cost SECTION G OTHER G.1 Disclosure of changes in fair value G.2 IAS 39 and IAS 7 Hedge accounting: statements of cash flows Practical Example - 1 An entity, with the dollar as its functional currency, purchases plant from a foreign entity for 18m on 31 May 2008 when the exchange rate was 2 to $1. ���1�@7cv6�o�Q��;��[�Хj2��zj�Kxz(����7˘�˴RA$��n��� Source: IFRS - IAS 36 Illustrative Examples Example 2 Calculation of value in use and recognition of an impairment los Background and calculation of value in use At the end of 20X0, entity T acquires entity M for CU 10,000. Reflects standards issued up to 31 March 2009. The corporation is a lessee in most of its leases but also acts as a lessor occasionally, and owns a property that it classifies as investment property. The illustrative examples that are pertinent to you include IE 1 to IE 31 (examples 1 to 6). /Resources 2 0 R 39-57) Effective date and transition (paras. /S /Transparency Interests in Other Entities Financial Reporting Faculty, 30 January 2017 In May 2011, the IASB published a ‘package of five’ new and revised standards providing updated guidance on the accounting and disclosure requirements for investments in subsidiaries, joint ventures and associates: IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011) and IAS 28 (2011). View IAS 10 Examples 2020.pdf from FRK 221 at University of Pretoria. Solution Example 2 Per paragraph 11 of IAS 10, this is a non-adjusting event. 0 This document is designed to help centres in their delivery of International Accounting Standards (IAS) to students. 10-33) Government grants (paras. 34-38) Disclosure (paras. 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