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About this book
Preface
Abbreviations
Authoritative literature
Volume 1: Chapters 1 to 22
1. Chapter 1: International GAAP
  1. 1 WHY INTERNATIONAL FINANCIAL REPORTING STANDARDS MATTER
  2. 2 THE IFRS FOUNDATION AND THE IASB
  3. 3 THE IASB'S TECHNICAL AGENDA AND CONVERGENCE WITH US GAAP
  4. 4 THE ADOPTION OF IFRS AROUND THE WORLD
  5. 5 CONSISTENCY IN APPLICATION OF IFRS
  6. 6 SUMMARY
  7. REFERENCES
2. Chapter 2: The IASB's Conceptual Framework
  1. 1 INTRODUCTION
  2. 2 DEVELOPMENT OF THE IASB'S CONCEPTUAL FRAMEWORK AND EFFECTIVE DATE
  3. 3 CONTENTS, PURPOSE AND SCOPE OF THE IASB'S CONCEPTUAL FRAMEWORK
  4. 4 CHAPTER 1: THE OBJECTIVE OF GENERAL PURPOSE FINANCIAL REPORTING
  5. 5 CHAPTER 2: QUALITATIVE CHARACTERISTICS OF USEFUL FINANCIAL INFORMATION
  6. 6 CHAPTER 3: FINANCIAL STATEMENTS AND THE REPORTING ENTITY
  7. 7 CHAPTER 4: THE ELEMENTS OF FINANCIAL STATEMENTS
  8. 8 CHAPTER 5: RECOGNITION AND DERECOGNITION
  9. 9 CHAPTER 6: MEASUREMENT
  10. 10 CHAPTER 7: PRESENTATION AND DISCLOSURE
  11. 11 CHAPTER 8: CONCEPTS OF CAPITAL AND CAPITAL MAINTENANCE
  12. 12 MANAGEMENT COMMENTARY
  13. REFERENCES
3. Chapter 3: Presentation of financial statements and accounting policies
  1. 1 INTRODUCTION
  2. 2 THE PURPOSE AND COMPOSITION OF FINANCIAL STATEMENTS
  3. 3 THE STRUCTURE OF FINANCIAL STATEMENTS
  4. 4 ACCOUNTING POLICIES
  5. 5 DISCLOSURE REQUIREMENTS
  6. 6 FUTURE DEVELOPMENTS
  7. REFERENCES
4. Chapter 4: Non-current assets held for sale and discontinued operations
  1. 1 OBJECTIVE AND SCOPE OF IFRS 5
  2. 2 NON-CURRENT ASSETS (AND DISPOSAL GROUPS) HELD FOR SALE OR HELD FOR DISTRIBUTION TO OWNERS
  3. 3 DISCONTINUED OPERATIONS
  4. 4 COMPARATIVE INFORMATION
  5. 5 DISCLOSURE REQUIREMENTS
  6. 6 POSSIBLE FUTURE DEVELOPMENTS
  7. REFERENCES
5. Chapter 5: First-time adoption
  1. 1 INTRODUCTION
  2. 2 WHO IS A FIRST-TIME ADOPTER?
  3. 3 OPENING IFRS STATEMENT OF FINANCIAL POSITION
  4. 4 EXCEPTIONS TO THE RETROSPECTIVE APPLICATION OF OTHER IFRSs
  5. 5 OPTIONAL EXEMPTIONS FROM THE REQUIREMENTS OF CERTAIN IFRSs
  6. 6 PRESENTATION AND DISCLOSURE
  7. 7 ACCOUNTING POLICIES AND PRACTICAL APPLICATION ISSUES
  8. 8 REGULATORY ISSUES
  9. REFERENCES
6. Chapter 6: Consolidated financial statements
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IFRS 10
  3. 3 CONTROL
  4. 4 POWER OVER AN INVESTEE
  5. 5 EXPOSURE TO VARIABLE RETURNS
  6. 6 LINK BETWEEN POWER AND RETURNS: PRINCIPAL-AGENCY SITUATIONS
  7. 7 RELATED PARTIES AND DE FACTO AGENTS
  8. 8 CONTROL OF SPECIFIED ASSETS
  9. 9 CONTINUOUS ASSESSMENT
  10. 10 INVESTMENT ENTITIES
  11. 11 FUTURE DEVELOPMENTS
  12. REFERENCES
7. Chapter 7: Consolidation procedures and non-controlling interests
  1. 1 INTRODUCTION
  2. 2 CONSOLIDATION PROCEDURES
  3. 3 CHANGES IN CONTROL
  4. 4 CHANGES IN OWNERSHIP INTEREST WITHOUT A LOSS OF CONTROL
  5. 5 NON-CONTROLLING INTERESTS
  6. 6 CALL AND PUT OPTIONS OVER NON-CONTROLLING INTERESTS
  7. 7 FUTURE DEVELOPMENTS
  8. REFERENCES
8. Chapter 8: Separate and individual financial statements
  1. 1 SEPARATE AND INDIVIDUAL FINANCIAL STATEMENTS
  2. 2 REQUIREMENTS OF SEPARATE FINANCIAL STATEMENTS
  3. 3 DISCLOSURE
  4. 4 COMMON CONTROL OR GROUP TRANSACTIONS IN INDIVIDUAL OR SEPARATE FINANCIAL STATEMENTS
  5. REFERENCES
9. Chapter 9: Business combinations
  1. 1 INTRODUCTION
  2. 2 SCOPE OF IFRS 3
  3. 3 IDENTIFYING A BUSINESS COMBINATION
  4. 4 ACQUISITION METHOD OF ACCOUNTING
  5. 5 RECOGNITION AND MEASUREMENT OF ASSETS ACQUIRED, LIABILITIES ASSUMED AND NON-CONTROLLING INTERESTS
  6. 6 RECOGNISING AND MEASURING GOODWILL OR A GAIN IN A BARGAIN PURCHASE
  7. 7 CONSIDERATION TRANSFERRED
  8. 8 RECOGNISING AND MEASURING NON-CONTROLLING INTERESTS
  9. 9 BUSINESS COMBINATIONS ACHIEVED IN STAGES (‘STEP ACQUISITIONS’)
  10. 10 BARGAIN PURCHASE TRANSACTIONS
  11. 11 ASSESSING WHAT IS PART OF THE EXCHANGE FOR THE ACQUIREE
  12. 12 MEASUREMENT PERIOD
  13. 13 SUBSEQUENT MEASUREMENT AND ACCOUNTING
  14. 14 REVERSE ACQUISITIONS
  15. 15 PUSH DOWN ACCOUNTING
  16. 16 DISCLOSURES
  17. REFERENCES
10. Chapter 10: Business combinations under common control
  1. 1 INTRODUCTION
  2. 2 THE IFRS 3 SCOPE EXCLUSION
  3. 3 ACCOUNTING FOR BUSINESS COMBINATIONS INVOLVING ENTITIES OR BUSINESSES UNDER COMMON CONTROL
  4. 4 ACCOUNTING FOR TRANSACTIONS UNDER COMMON CONTROL (OR OWNERSHIP) INVOLVING A NEWCO
  5. 5 ACCOUNTING FOR TRANSFERS OF ASSOCIATES OR JOINT VENTURES UNDER COMMON CONTROL
  6. 6 FUTURE DEVELOPMENTS
  7. REFERENCES
11. Chapter 11: Investments in associates and joint ventures
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 28
  3. 3 DEFINITIONS
  4. 4 SIGNIFICANT INFLUENCE
  5. 5 EXEMPTIONS FROM APPLYING THE EQUITY METHOD
  6. 6 CLASSIFICATION AS HELD FOR SALE (IFRS 5)
  7. 7 APPLICATION OF THE EQUITY METHOD
  8. 8 IMPAIRMENT LOSSES
  9. 9 SEPARATE FINANCIAL STATEMENTS
  10. 10 PRESENTATION AND DISCLOSURES
  11. 11 FUTURE DEVELOPMENTS
  12. REFERENCES
12. Chapter 12: Joint arrangements
  1. 1 INTRODUCTION
  2. 2 EFFECTIVE DATE, OBJECTIVE AND SCOPE OF IFRS 11
  3. 3 JOINT ARRANGEMENT
  4. 4 JOINT CONTROL
  5. 5 CLASSIFICATION OF A JOINT ARRANGEMENT: JOINT OPERATIONS AND JOINT VENTURES
  6. 6 ACCOUNTING FOR JOINT OPERATIONS
  7. 7 ACCOUNTING FOR JOINT VENTURES
  8. 8 CONTINUOUS ASSESSMENT
  9. 9 DISCLOSURES
  10. REFERENCES
13. Chapter 13: Disclosure of interests in other entities
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IFRS 12
  3. 3 DISCLOSURE OF SIGNIFICANT ESTIMATES AND JUDGEMENTS
  4. 4 DISCLOSURE OF INTERESTS IN SUBSIDIARIES
  5. 5 DISCLOSURE OF INTERESTS IN JOINT ARRANGEMENTS AND ASSOCIATES
  6. 6 DISCLOSURE OF INTERESTS IN UNCONSOLIDATED STRUCTURED ENTITIES
  7. REFERENCES
14. Chapter 14: Fair value measurement
  1. 1 INTRODUCTION AND BACKGROUND
  2. 2 SCOPE
  3. 3 DEFINITIONS
  4. 4 THE FAIR VALUE FRAMEWORK
  5. 5 THE ASSET OR LIABILITY
  6. 6 THE PRINCIPAL (OR MOST ADVANTAGEOUS) MARKET
  7. 7 MARKET PARTICIPANTS
  8. 8 THE TRANSACTION
  9. 9 THE PRICE
  10. 10 APPLICATION TO NON-FINANCIAL ASSETS
  11. 11 APPLICATION TO LIABILITIES AND AN ENTITY'S OWN EQUITY
  12. 12 FINANCIAL ASSETS AND LIABILITIES WITH OFFSETTING POSITIONS
  13. 13 FAIR VALUE AT INITIAL RECOGNITION
  14. 14 VALUATION TECHNIQUES
  15. 15 INPUTS TO VALUATION TECHNIQUES
  16. 16 THE FAIR VALUE HIERARCHY
  17. 17 LEVEL 1 INPUTS
  18. 18 LEVEL 2 INPUTS
  19. 19 LEVEL 3 INPUTS
  20. 20 DISCLOSURES
  21. 21 APPLICATION GUIDANCE – PRESENT VALUE TECHNIQUES
  22. 22 EFFECTIVE DATE AND TRANSITION
  23. 23 CONVERGENCE WITH US GAAP
  24. REFERENCES
15. Chapter 15: Foreign exchange
  1. 1 INTRODUCTION
  2. 2 IAS 21: OBJECTIVE, SCOPE AND DEFINITIONS
  3. 3 SUMMARY OF THE APPROACH REQUIRED BY IAS 21
  4. 4 DETERMINATION OF AN ENTITY'S FUNCTIONAL CURRENCY
  5. 5 REPORTING FOREIGN CURRENCY TRANSACTIONS IN THE FUNCTIONAL CURRENCY OF AN ENTITY
  6. 6 USE OF A PRESENTATION CURRENCY OTHER THAN THE FUNCTIONAL CURRENCY
  7. 7 CHANGE OF PRESENTATION CURRENCY
  8. 8 INTRODUCTION OF THE EURO
  9. 9 TAX EFFECTS OF ALL EXCHANGE DIFFERENCES
  10. 10 DISCLOSURE REQUIREMENTS
  11. 11 FUTURE DEVELOPMENTS
  12. REFERENCES
16. Chapter 16: Hyperinflation
  1. 1 INTRODUCTION
  2. 2 THE REQUIREMENTS OF IAS 29
  3. 3 SELECTION OF A GENERAL PRICE INDEX
  4. 4 ANALYSIS AND RESTATEMENT OF THE STATEMENT OF FINANCIAL POSITION
  5. 5 RESTATEMENT OF THE STATEMENT OF CHANGES IN EQUITY
  6. 6 RESTATEMENT OF THE STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME
  7. 7 RESTATEMENT OF THE STATEMENT OF CASH FLOWS
  8. 8 RESTATEMENT OF COMPARATIVE FIGURES
  9. 9 INTERIM REPORTING
  10. 10 TRANSITION
  11. 11 TRANSLATION TO A DIFFERENT PRESENTATION CURRENCY
  12. 12 DISCLOSURES
  13. 13 FUTURE DEVELOPMENTS
  14. REFERENCES
17. Chapter 17: Intangible assets
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 38
  3. 3 RECOGNITION AND MEASUREMENT
  4. 4 SEPARATE ACQUISITION
  5. 5 ACQUISITION AS PART OF A BUSINESS COMBINATION
  6. 6 INTERNALLY GENERATED INTANGIBLE ASSETS
  7. 7 RECOGNITION OF AN EXPENSE
  8. 8 MEASUREMENT AFTER INITIAL RECOGNITION
  9. 9 AMORTISATION OF INTANGIBLE ASSETS
  10. 10 DISCLOSURE
  11. 11 SPECIFIC ISSUES REGARDING INTANGIBLE ASSETS
  12. REFERENCES
18. Chapter 18: Property, plant and equipment
  1. 1 INTRODUCTION
  2. 2 THE REQUIREMENTS OF IAS 16
  3. 3 RECOGNITION
  4. 4 MEASUREMENT AT RECOGNITION
  5. 5 MEASUREMENT AFTER RECOGNITION: COST MODEL
  6. 6 MEASUREMENT AFTER RECOGNITION: REVALUATION MODEL
  7. 7 DERECOGNITION AND DISPOSAL
  8. 8 IAS 16 DISCLOSURE REQUIREMENTS
  9. REFERENCES
19. Chapter 19: Investment property
  1. 1 INTRODUCTION
  2. 2 DEFINITIONS AND SCOPE
  3. 3 RECOGNITION
  4. 4 INITIAL MEASUREMENT
  5. 5 MEASUREMENT AFTER INITIAL RECOGNITION
  6. 6 THE FAIR VALUE MODEL
  7. 7 THE COST MODEL
  8. 8 IFRS 5 AND INVESTMENT PROPERTY
  9. 9 TRANSFER OF ASSETS TO OR FROM INVESTMENT PROPERTY
  10. 10 DISPOSAL OF INVESTMENT PROPERTY
  11. 11 INTERIM REPORTING AND IAS 40
  12. 12 THE DISCLOSURE REQUIREMENTS OF IAS 40
  13. 13 FUTURE DEVELOPMENTS
  14. REFERENCES
20. Chapter 20: Impairment of fixed assets and goodwill
  1. 1 INTRODUCTION
  2. 2 WHEN AN IMPAIRMENT TEST IS REQUIRED
  3. 3 DIVIDING THE ENTITY INTO CASH-GENERATING UNITS (CGUS)
  4. 4 IDENTIFYING THE CARRYING AMOUNT OF CGU ASSETS
  5. 5 RECOVERABLE AMOUNT
  6. 6 FAIR VALUE LESS COSTS OF DISPOSAL
  7. 7 DETERMINING VALUE IN USE (VIU)
  8. 8 IMPAIRMENT OF GOODWILL
  9. 9 NON-CONTROLLING INTERESTS – THE IMPACT ON GOODWILL IMPAIRMENT TESTING
  10. 10 IMPAIRMENT OF INTANGIBLE ASSETS WITH AN INDEFINITE USEFUL LIFE
  11. 11 RECOGNISING AND REVERSING IMPAIRMENT LOSSES
  12. 12 GROUP AND SEPARATE FINANCIAL STATEMENT ISSUES
  13. 13 DISCLOSURES REQUIRED BY IAS 36
  14. 14 DEVELOPMENTS
  15. REFERENCES
21. Chapter 21: Capitalisation of borrowing costs
  1. 1 INTRODUCTION
  2. 2 THE REQUIREMENTS OF IAS 23
  3. 3 QUALIFYING ASSETS
  4. 4 DEFINITION OF BORROWING COSTS
  5. 5 BORROWING COSTS ELIGIBLE FOR CAPITALISATION
  6. 6 COMMENCEMENT, SUSPENSION AND CESSATION OF CAPITALISATION
  7. 7 DISCLOSURE REQUIREMENTS
  8. REFERENCES
22. Chapter 22: Inventories
  1. 1 INTRODUCTION
  2. 2 IAS 2: OBJECTIVE, SCOPE AND DEFINITIONS
  3. 3 MEASUREMENT
  4. 4 REAL ESTATE INVENTORY
  5. 5 RECOGNITION IN PROFIT OR LOSS
  6. 6 DISCLOSURE REQUIREMENTS OF IAS 2
  7. REFERENCES
Volume 2: Chapters 23 to 43
1. Chapter 23: Leases
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IFRS 16
  3. 3 WHAT IS A LEASE?
  4. 4 KEY CONCEPTS
  5. 5 LESSEE ACCOUNTING
  6. 6 LESSOR ACCOUNTING
  7. 7 SUBLEASES
  8. 8 SALE AND LEASEBACK TRANSACTIONS
  9. 9 BUSINESS COMBINATIONS
  10. 10 EFFECTIVE DATE AND TRANSITION
  11. REFERENCES
2. Chapter 24: Government grants
  1. 1 INTRODUCTION
  2. 2 SCOPE OF IAS 20
  3. 3 RECOGNITION AND MEASUREMENT
  4. 4 PRESENTATION OF GRANTS
  5. 5 GOVERNMENT GRANTS RELATED TO BIOLOGICAL ASSETS IN THE SCOPE OF IAS 41
  6. 6 DISCLOSURES
  7. REFERENCES
3. Chapter 25: Service concession arrangements
  1. 1 INTRODUCTION
  2. 2 SCOPE OF IFRIC 12
  3. 3 THE CONTROL MODEL
  4. 4 ACCOUNTING BY THE CONCESSION OPERATOR: THE FINANCIAL ASSET AND INTANGIBLE ASSET MODELS
  5. 5 REVENUE AND EXPENDITURE DURING THE OPERATIONS PHASE OF THE CONCESSION AGREEMENT
  6. 6 FURTHER EXAMPLES ILLUSTRATING THE APPLICATION OF IFRIC 12 AND INTERACTIONS WITH IFRS 15 AND IFRS 9
  7. 7 DISCLOSURE REQUIREMENTS: SIC‑29
  8. REFERENCES
4. Chapter 26: Provisions, contingent liabilities and contingent assets
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 37
  3. 3 RECOGNITION
  4. 4 MEASUREMENT
  5. 5 CASES IN WHICH NO PROVISION SHOULD BE RECOGNISED
  6. 6 SPECIFIC EXAMPLES OF PROVISIONS AND CONTINGENCIES
  7. 7 DISCLOSURE REQUIREMENTS
  8. REFERENCES
5. Chapter 27: Revenue
  1. 1 INTRODUCTION
  2. 2 IFRS 15 – OBJECTIVE, EFFECTIVE DATE AND TRANSITION
  3. 3 IFRS 15 – SCOPE
  4. 4 OTHER INCOME AND OTHER REVENUE
  5. REFERENCES
6. Chapter 28: Revenue
  1. 1 INTRODUCTION
  2. 2 IDENTIFY THE CONTRACT WITH THE CUSTOMER
  3. 3 IDENTIFY THE PERFORMANCE OBLIGATIONS IN THE CONTRACT
  4. REFERENCES
7. Chapter 29: Revenue
  1. 1 INTRODUCTION
  2. 2 DETERMINE THE TRANSACTION PRICE
  3. 3 ALLOCATE THE TRANSACTION PRICE TO THE PERFORMANCE OBLIGATIONS
  4. REFERENCES
8. Chapter 30: Revenue
  1. 1 INTRODUCTION
  2. 2 PERFORMANCE OBLIGATIONS SATISFIED OVER TIME
  3. 3 MEASURING PROGRESS OVER TIME
  4. 4 CONTROL TRANSFERRED AT A POINTIN TIME
  5. 5 REPURCHASE AGREEMENTS
  6. 6 CONSIGNMENT ARRANGEMENTS
  7. 7 BILL-AND-HOLD ARRANGEMENTS
  8. 8 RECOGNISING REVENUE FOR LICENCES OF INTELLECTUAL PROPERTY
  9. 9 RECOGNISING REVENUE WHEN A RIGHT OF RETURN EXISTS
  10. 10 RECOGNISING REVENUE FOR CUSTOMER OPTIONS FOR ADDITIONAL GOODS OR SERVICES
  11. 11 BREAKAGE AND PREPAYMENTS FOR FUTURE GOODS OR SERVICES
  12. REFERENCES
9. Chapter 31: Revenue: licences, warranties and contract costs
  1. 1 INTRODUCTION
  2. 2 LICENCES OF INTELLECTUAL PROPERTY
  3. 3 WARRANTIES
  4. 4 ONEROUS CONTRACTS
  5. 5 CONTRACT COSTS
  6. REFERENCES
10. Chapter 32: Revenue: presentation and disclosure
  1. 1 INTRODUCTION
  2. 2 PRESENTATION
  3. 3 DISCLOSURES IN ANNUAL FINANCIAL STATEMENTS
  4. 4 DISCLOSURES IN INTERIM FINANCIAL STATEMENTS
  5. REFERENCES
11. Chapter 33: Income taxes
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 12
  3. 3 DEFINITIONS
  4. 4 SCOPE
  5. 5 CURRENT TAX
  6. 6 DEFERRED TAX – TAX BASES AND TEMPORARY DIFFERENCES
  7. 7 DEFERRED TAX – RECOGNITION
  8. 8 DEFERRED TAX – MEASUREMENT
  9. 9 UNCERTAIN TAX TREATMENTS
  10. 10 ALLOCATION OF TAX CHARGE OR CREDIT
  11. 11 CONSOLIDATED TAX RETURNS AND OFFSET OF TAXABLE PROFITS AND LOSSES WITHIN GROUPS
  12. 12 BUSINESS COMBINATIONS
  13. 13 PRESENTATION
  14. 14 DISCLOSURE
  15. REFERENCES
12. Chapter 34: Share-based payment
  1. 1 INTRODUCTION
  2. 2 THE OBJECTIVE AND SCOPE OF IFRS 2
  3. 3 GENERAL RECOGNITION PRINCIPLES
  4. 4 EQUITY-SETTLED TRANSACTIONS – OVERVIEW
  5. 5 EQUITY-SETTLED TRANSACTIONS – COST OF AWARDS
  6. 6 EQUITY-SETTLED TRANSACTIONS – ALLOCATION OF EXPENSE
  7. 7 EQUITY-SETTLED TRANSACTIONS – MODIFICATION, CANCELLATION AND SETTLEMENT
  8. 8 EQUITY-SETTLED TRANSACTIONS – VALUATION
  9. 9 CASH-SETTLED TRANSACTIONS
  10. 10 TRANSACTIONS WITH EQUITY AND CASH ALTERNATIVES
  11. 11 REPLACEMENT SHARE-BASED PAYMENT AWARDS ISSUED IN A BUSINESS COMBINATION
  12. 12 GROUP SHARE SCHEMES
  13. 13 DISCLOSURES
  14. 14 TAXES RELATED TO SHARE-BASED PAYMENT TRANSACTIONS
  15. 15 OTHER PRACTICAL ISSUES
  16. 16 FIRST-TIME ADOPTION AND TRANSITIONAL PROVISIONS
  17. REFERENCES
13. Chapter 35: Employee benefits
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 19
  3. 3 PENSIONS AND OTHER POST-EMPLOYMENT BENEFITS – DEFINED CONTRIBUTION AND DEFINED BENEFIT PLANS
  4. 4 DEFINED CONTRIBUTION PLANS
  5. 5 DEFINED BENEFIT PLANS – GENERAL
  6. 6 DEFINED BENEFIT PLANS – PLAN ASSETS
  7. 7 DEFINED BENEFIT PLANS – PLAN LIABILITIES
  8. 8 DEFINED BENEFIT PLANS – TREATMENT OF THE PLAN SURPLUS OR DEFICIT IN THE STATEMENT OF FINANCIAL POSITION
  9. 9 DEFINED BENEFIT PLANS – PRESENTATION OF THE NET DEFINED BENEFIT LIABILITY (ASSET)
  10. 10 DEFINED BENEFIT PLANS – TREATMENT IN PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
  11. 11 DEFINED BENEFIT PLANS – COSTS OF ADMINISTERING EMPLOYEE BENEFIT PLANS
  12. 12 SHORT-TERM EMPLOYEE BENEFITS
  13. 13 LONG-TERM EMPLOYEE BENEFITS OTHER THAN POST-EMPLOYMENT BENEFITS
  14. 14 TERMINATION BENEFITS
  15. 15 DISCLOSURE REQUIREMENTS
  16. 16 POSSIBLE FUTURE DEVELOPMENTS
  17. REFERENCES
14. Chapter 36: Operating segments
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IFRS 8
  3. 3 IDENTIFYING A SINGLE SET OF OPERATING SEGMENTS
  4. 4 MEASUREMENT
  5. 5 INFORMATION TO BE DISCLOSED ABOUT REPORTABLE SEGMENTS
  6. 6 ENTITY-WIDE DISCLOSURES FOR ALL ENTITIES
  7. REFERENCES
15. Chapter 37: Earnings per share
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 33
  3. 3 THE BASIC EPS
  4. 4 CHANGES IN OUTSTANDING ORDINARY SHARES
  5. 5 MATTERS AFFECTING THE NUMERATOR
  6. 6 DILUTED EARNINGS PER SHARE
  7. 7 PRESENTATION, RESTATEMENT AND DISCLOSURE
  8. 8 APPENDIX
  9. REFERENCES
16. Chapter 38: Events after the reporting period
  1. 1 INTRODUCTION
  2. 2 REQUIREMENTS OF IAS 10
  3. 3 PRACTICAL ISSUES
  4. REFERENCES
17. Chapter 39: Related party disclosures
  1. 1 INTRODUCTION
  2. 2 REQUIREMENTS OF IAS 24
  3. REFERENCES
18. Chapter 40: Statement of cash flows
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 7
  3. 3 CASH AND CASH EQUIVALENTS
  4. 4 CLASSIFICATION IN THE STATEMENT OF CASH FLOWS
  5. 5 OTHER CASH FLOW PRESENTATION ISSUES
  6. 6 ADDITIONAL IAS 7 CONSIDERATIONS FOR GROUPS
  7. 7 ADDITIONAL IAS 7 CONSIDERATIONS FOR FINANCIAL INSTITUTIONS
  8. 8 REQUIREMENTS OF OTHER STANDARDS
  9. REFERENCES
19. Chapter 41: Interim financial reporting
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE OF IAS 34
  3. 3 COMPONENTS, FORM AND CONTENT OF AN INTERIM FINANCIAL REPORT UNDER IAS 34
  4. 4 DISCLOSURES IN CONDENSED FINANCIAL STATEMENTS
  5. 5 PERIODS FOR WHICH INTERIM FINANCIAL STATEMENTS ARE REQUIRED TO BE PRESENTED
  6. 6 MATERIALITY
  7. 7 DISCLOSURE IN ANNUAL FINANCIAL STATEMENTS
  8. 8 RECOGNITION AND MEASUREMENT
  9. 9 EXAMPLES OF THE RECOGNITION AND MEASUREMENT PRINCIPLES
  10. 10 USE OF ESTIMATES
  11. 11 EFFECTIVE DATES AND TRANSITIONAL RULES
  12. REFERENCES
20. Chapter 42: Agriculture
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE, DEFINITIONS AND SCOPE
  3. 3 RECOGNITION AND MEASUREMENT PRINCIPLES
  4. 4 MEASURING FAIR VALUE LESS COSTS TO SELL
  5. 5 DISCLOSURE
  6. REFERENCES
21. Chapter 43: Extractive industries
  1. 1 INTRODUCTION AND BACKGROUND
  2. 2 MINERAL RESERVES AND RESOURCES
  3. 3 IFRS 6 – EXPLORATION FOR AND EVALUATION OF MINERAL RESOURCES
  4. 4 UNIT OF ACCOUNT
  5. 5 LEGAL RIGHTS TO EXPLORE FOR, DEVELOP AND PRODUCE MINERAL PROPERTIES
  6. 6 RISK-SHARING ARRANGEMENTS
  7. 7 INVESTMENTS IN THE EXTRACTIVE INDUSTRIES
  8. 8 ACQUISITIONS
  9. 9 FUNCTIONAL CURRENCY
  10. 10 DECOMMISSIONING AND RESTORATION/REHABILITATION
  11. 11 IMPAIRMENT OF ASSETS
  12. 12 REVENUE RECOGNITION
  13. 13 FINANCIAL INSTRUMENTS
  14. 14 INVENTORIES
  15. 15 PROPERTY, PLANT AND EQUIPMENT
  16. 16 DEPRECIATION, DEPLETION AND AMORTISATION (DD&A)
  17. 17 IFRS 16 – LEASES
  18. 18 INTERACTION OF IFRS 16 – LEASES – AND IFRS 11 – JOINT ARRANGEMENTS
  19. 19 LONG-TERM CONTRACTS AND LEASES
  20. 20 TOLLING ARRANGEMENTS
  21. 21 TAXATION
  22. 22 EVENTS AFTER THE REPORTING PERIOD
  23. 23 GLOSSARY
  24. REFERENCES
Volume 3: Chapters 44 to 56
1. Chapter 44: Financial instruments: Introduction
  1. 1 STANDARDS APPLYING TO FINANCIAL INSTRUMENTS
  2. 2 ADOPTION OF IFRS IN THE EUROPEAN UNION
  3. REFERENCES
2. Chapter 45: Financial instruments: Definitions and scope
  1. 1 INTRODUCTION
  2. 2 WHAT IS A FINANCIAL INSTRUMENT?
  3. 3 SCOPE
  4. 4 CONTRACTS TO BUY OR SELL COMMODITIES AND OTHER NON-FINANCIAL ITEMS
  5. REFERENCES
3. Chapter 46: Financial instruments: Derivatives and embedded derivatives
  1. 1 INTRODUCTION
  2. 2 DEFINITION OF A DERIVATIVE
  3. 3 EXAMPLES OF DERIVATIVES
  4. 4 EMBEDDED DERIVATIVES
  5. 5 EMBEDDED DERIVATIVES: THE MEANING OF ‘CLOSELY RELATED’
  6. 6 IDENTIFYING THE TERMS OF EMBEDDED DERIVATIVES AND HOST CONTRACTS
  7. 7 REASSESSMENT OF EMBEDDED DERIVATIVES
  8. 8 LINKED AND SEPARATE TRANSACTIONS AND ‘SYNTHETIC’ INSTRUMENTS
  9. REFERENCES
4. Chapter 47: Financial instruments: Financial liabilities and equity
  1. 1 INTRODUCTION
  2. 2 OBJECTIVE AND SCOPE
  3. 3 DEFINITIONS
  4. 4 CLASSIFICATION OF INSTRUMENTS
  5. 5 CONTRACTS SETTLED BY DELIVERY OF THE ENTITY'S OWN EQUITY INSTRUMENTS
  6. 6 COMPOUND FINANCIAL INSTRUMENTS
  7. 7 SETTLEMENT OF FINANCIAL LIABILITY WITH EQUITY INSTRUMENT
  8. 8 INTEREST, DIVIDENDS, GAINS AND LOSSES
  9. 9 TREASURY SHARES
  10. 10 ‘HEDGING’ OF INSTRUMENTS CLASSIFIED AS EQUITY
  11. 11 DERIVATIVES OVER OWN EQUITY INSTRUMENTS
  12. 12 POSSIBLE FUTURE DEVELOPMENTS
  13. REFERENCES
5. Chapter 48: Financial instruments: Classification
  1. 1 INTRODUCTION
  2. 2 CLASSIFYING FINANCIAL ASSETS: AN OVERVIEW
  3. 3 CLASSIFYING FINANCIAL LIABILITIES
  4. 4 FINANCIAL ASSETS AND FINANCIAL LIABILITIES HELD FOR TRADING
  5. 5 FINANCIAL ASSETS: THE ‘BUSINESS MODEL’ ASSESSMENT
  6. 6 CHARACTERISTICS OF THE CONTRACTUAL CASH FLOWS OF THE INSTRUMENT
  7. 7 DESIGNATION AT FAIR VALUE THROUGH PROFIT OR LOSS
  8. 8 DESIGNATION OF NON-DERIVATIVE EQUITY INVESTMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
  9. 9 RECLASSIFICATION OF FINANCIAL ASSETS
  10. 10 FUTURE DEVELOPMENTS
  11. REFERENCES
6. Chapter 49: Financial instruments: Recognition and initial measurement
  1. 1 INTRODUCTION
  2. 2 RECOGNITION
  3. 3 INITIAL MEASUREMENT
  4. REFERENCES
7. Chapter 50: Financial instruments: Subsequent measurement
  1. 1 INTRODUCTION
  2. 2 SUBSEQUENT MEASUREMENT AND RECOGNITION OF GAINS AND LOSSES
  3. 3 AMORTISED COST AND THE EFFECTIVE INTEREST METHOD
  4. 4 FOREIGN CURRENCIES
  5. 5 EFFECTIVE DATE AND TRANSITION
  6. REFERENCES
8. Chapter 51: Financial instruments: Impairment
  1. 1 INTRODUCTION
  2. 2 SCOPE
  3. 3 APPROACHES
  4. 4 IMPAIRMENT FOR CORPORATES
  5. 5 MEASUREMENT OF EXPECTED CREDIT LOSSES
  6. 6 GENERAL APPROACH: DETERMINING SIGNIFICANT INCREASES IN CREDIT RISK
  7. 7 OTHER MATTERS AND ISSUES IN RELATION TO THE EXPECTED CREDIT LOSS CALCULATIONS
  8. 8 MODIFIED FINANCIAL ASSETS
  9. 9 FINANCIAL ASSETS MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
  10. 10 TRADE RECEIVABLES, CONTRACT ASSETS AND LEASE RECEIVABLES
  11. 11 LOAN COMMITMENTS AND FINANCIAL GUARANTEE CONTRACTS
  12. 12 REVOLVING CREDIT FACILITIES
  13. 13 INTERCOMPANY LOANS
  14. 14 PRESENTATION OF EXPECTED CREDIT LOSSES IN THE STATEMENT OF FINANCIAL POSITION
  15. 15 DISCLOSURES
  16. REFERENCES
9. Chapter 52: Financial instruments: Derecognition
  1. 1 INTRODUCTION
  2. 2 DEVELOPMENT OF IFRS
  3. 3 DERECOGNITION – FINANCIAL ASSETS
  4. 4 PRACTICAL APPLICATION OF THE DERECOGNITION CRITERIA
  5. 5 ACCOUNTING TREATMENT
  6. 6 DERECOGNITION – FINANCIAL LIABILITIES
  7. 7 CUSIP ‘NETTING’
  8. 8 FUTURE DEVELOPMENTS
  9. REFERENCES
10. Chapter 53: Financial instruments: Hedge accounting
  1. 1 INTRODUCTION
  2. 2 HEDGED ITEMS
  3. 3 HEDGING INSTRUMENTS
  4. 4 INTERNAL HEDGES AND OTHER GROUP ACCOUNTING ISSUES
  5. 5 TYPES OF HEDGING RELATIONSHIPS
  6. 6 QUALIFYING CRITERIA
  7. 7 ACCOUNTING FOR EFFECTIVE HEDGES
  8. 8 SUBSEQUENT ASSESSMENT OF EFFECTIVENESS, REBALANCING AND DISCONTINUATION
  9. 9 PRESENTATION
  10. 10 MACRO HEDGING
  11. 11 ALTERNATIVES TO HEDGE ACCOUNTING
  12. 12 EFFECTIVE DATE AND TRANSITION
  13. 13 MAIN DIFFERENCES BETWEEN IFRS 9 AND IAS 39 HEDGE ACCOUNTING REQUIREMENTS
  14. REFERENCES
11. Chapter 54: Financial instruments: Presentation and disclosure
  1. 1 INTRODUCTION
  2. 2 SCOPE OF IFRS 7
  3. 3 STRUCTURING THE DISCLOSURES
  4. 4 SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR AN ENTITY'S FINANCIAL POSITION AND PERFORMANCE
  5. 5 NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS
  6. 6 TRANSFERS OF FINANCIAL ASSETS
  7. 7 PRESENTATION ON THE FACE OF THE FINANCIAL STATEMENTS AND RELATED DISCLOSURES
  8. 8 EFFECTIVE DATES AND TRANSITIONAL PROVISIONS
  9. 9 FUTURE DEVELOPMENTS
  10. REFERENCES
12. Chapter 55: Insurance contracts (IFRS 4)
  1. 1 INTRODUCTION
  2. 2 THE OBJECTIVES AND SCOPE OF IFRS 4
  3. 3 THE DEFINITION OF AN INSURANCE CONTRACT
  4. 4 EMBEDDED DERIVATIVES
  5. 5 UNBUNDLING OF DEPOSIT COMPONENTS
  6. 6 DISCRETIONARY PARTICIPATION FEATURES
  7. 7 SELECTION OF ACCOUNTING POLICIES
  8. 8 CHANGES IN ACCOUNTING POLICIES
  9. 9 INSURANCE CONTRACTS ACQUIRED IN BUSINESS COMBINATIONS AND PORTFOLIO TRANSFERS
  10. 10 APPLYING IFRS 9 WITH IFRS 4
  11. 11 DISCLOSURE
  12. 12 FUTURE DEVELOPMENTS
  13. REFERENCES
13. Chapter 56: Insurance contracts (IFRS 17)
  1. 1 INTRODUCTION
  2. 2 THE OBJECTIVE, DEFINITIONS AND SCOPE OF IFRS 17
  3. 3 THE DEFINITION OF AN INSURANCE CONTRACT
  4. 4 SEPARATING COMPONENTS FROM AN INSURANCE CONTRACT
  5. 5 LEVEL OF AGGREGATION
  6. 6 INITIAL RECOGNITION
  7. 7 MEASUREMENT – OVERVIEW
  8. 8 MEASUREMENT – GENERAL MODEL
  9. 9 MEASUREMENT – PREMIUM ALLOCATION APPROACH
  10. 10 MEASUREMENT – REINSURANCE CONTRACTS HELD
  11. 11 MEASUREMENT – CONTRACTS WITH PARTICIPATION FEATURES
  12. 12 MODIFICATION AND DERECOGNITION
  13. 13 ACQUISITIONS OF INSURANCE CONTRACTS
  14. 14 PRESENTATION IN THE STATEMENT OF FINANCIAL POSITION
  15. 15 PRESENTATION IN THE STATEMENT OF FINANCIAL PERFORMANCE
  16. 16 DISCLOSURE
  17. 17 EFFECTIVE DATE AND TRANSITION
  18. 18 FUTURE DEVELOPMENTS
  19. REFERENCES
Index of extracts from financial statements
Index of standards
Index
End User License Agreement

List of Illustrations

Chapter 2
1. Figure 2.1: Components of the Conceptual Framework
2. Figure 2.2: How recognition links the elements of financial statements
Chapter 6
1. Figure 6.1: Interaction between IFRS 10, IFRS 11, IFRS 12 and IAS 28
2. Figure 6.2: Understanding scope in employee benefit plans and employee share...
3. Figure 6.3: Assessing contro
4. Figure 6.6: Evaluating rights to remove without cause
5. Figure 6.7: Evaluating whether removal rights are substantive
6. Figure 6.8: Identifying parties that might be de facto agents
7. Figure 6.9: Identifying and assessing control of a silo
Chapter 7
1. Figure 7.2: Decision tree for accounting for put options over non-controlling...
2. Figure 7.3: Accounting for a mandatory tender offer
Chapter 8
1. Figure 8.1: Interactions between consolidated, individual and separate financ...
Chapter 14
1. Figure 14.2: The fair value measurement framework
2. Figure 14.3: Orderly transactions: measuring fair value and estimating market...
3. Figure 14.5: Accounting for CVA and DVA
Chapter 20
1. Figure 20.1: Determining and accounting for impairment
Chapter 27
1. Figure 27.1: IFRS 15 Definitions
2. Figure 27.2: Interactions with other standards
Chapter 28
1. Figure 28.1: Contract modifications
2. Figure 28.2: Arrangements that do not meet the definition of a contract under...
3. Figure 28.3: Determining when promises are performance obligations
4. Figure 28.4: Distinct in the context of the contract
5. Figure 28.5: The series requirement criteria
6. Figure 28.6: The series requirement: determining the nature of the promise
7. Figure 28.7: Principal versus agent evaluation
Chapter 29
1. Figure 29.1: Fixed versus variable consideration
2. Figure 29.2: Consideration payable to a customer
3. Figure 29.3: Determining the stand-alone selling price of a good or service
Chapter 30
1. Figure 30.1: Evaluating whether control transfers over time
2. Figure 30.2: Forward or call options
3. Figure 30.3: Put options held by the customer
Chapter 31
1. Figure 31.1: Determining whether the royalty recognition constraint applies t...
2. Figure 31.2: Determining whether a warranty is an assurance-type or service-t...
3. Figure 31.3: Costs to obtain a contract
4. Figure 31.4: Costs to fulfil a contract
Chapter 34
1. Figure 34.1: Scope of IFRS 2
2. Figure 34.2: Intrinsic value of a call option
3. Figure 34.3: Determinants of the fair value of a call option
4. Figure 34.4: The Black-Scholes-Merton formula
5. Figure 34.5: Monte Carlo Simulation approach for share-based payment transact...
Chapter 42
1. Figure 42.4: Applying paragraph 25 of IAS 41 to measure the fair value of a b...
Chapter 43
1. Figure 43.1: Resources classification framework
2. Figure 43.2: Sub-classes based on project maturity
3. Figure 43.3: The general relationship between results, resources and reserve...
4. Figure 43.4: Determining whether the contractual arrangements between the lead operat...
5. Figure 43.5: Lead operator's accounting for the contractual arrangement with ...
Chapter 51
1. Figure 51.1: Accounting for expected credit losses – 2009 ED versus IFRS 9 4...
2. Figure 51.2: General approach
3. Figure 51.3: Application of the impairment requirements at a reporting date
4. Figure 51.4: Distribution of losses
5. Figure 51.6: Application of the derecognition and modification requirements a...
Chapter 52
1. Figure 52.1: Derecognition flowchart [IFRS 9.B3.2.1]
Chapter 53
1. Figure 53.2: How to achieve hedge accounting
2. Figure 53.3: Effectiveness assessment and rebalancing