- You need to be able to identify and determine the parties considered to be related to an entity
- You’ll also need to identify the implications of related party relationships and the need for disclosures
What are ‘Earnings’ for EPS in IAS 33?
Earnings For the purpose of calculating basic earnings per share under IAS 33, earnings is the net profit after deducting: Tax Non-Controlling Interest (Minority Interest) Non-controlling interest So earnings is the net profit after tax minus any minority interest. So how do we adjust the minority interest out of the EPS calculations? Simply take the …
Two Things to Know About Leases for IAS 17
In this article we’ll look at: Accounting treatment of leases by lessors (as well as lessees) How to account and discuss sale and leaseback transactions Lease Accounting Treatment – Lessor For Finance Leases De-recognises the tangible asset (and recognises resultant gain/loss). Lessor recognises a receivable equal to the net investment of the lease. Leased asset …
What do you Know About Related Parties for IAS 24?
How To Calculate Basic Earnings Per Share for IAS 33
Basic earnings per share is calculated by dividing the net profit or loss on continuing operations by the weighted average number of ordinary shares in issue during the period.
3 Key Definitions for EPS in IAS 33
1. Ordinary Shares
An ordinary share is an equity instrument that is subordinate to all other classes of equity instrument.
Introduction to Current and Deferred Tax under IAS 12
Throughout your working career and in your studies, you may have noticed instances where the tax treatment and the accounting treatment of an item vary.
Accounting Policies – an Introduction for IFRS
What are accounting policies?
Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. This article contains some useful information for your IFRS studies.
Accounting Policies – Fair Presentation and Faithful Representation for IFRS
What does fair presentation mean?
Financial statements are described as showing a ‘true and fair view’ when they are free from material misstatements and faithfully represent the financial performance and position of an entity.