If you’re studying IAS 40 Investment Property, why not test your knowledge with our multiple choice quiz? You can try the quiz by clicking here. By practicing questions you’ll improve your study and recall, ideal for people who learn best by ‘doing’ rather than just reading.
IFRS
The Essentials About Borrowing Costs for IAS 23
What are Borrowing Costs? Borrowing costs are interest and other costs incurred by an entity in connection with the borrowing of funds. Borrowing costs may include – Interest on bank overdrafts and short-term and long-term borrowings (including inter-company borrowings). – Amortisation of discounts or premiums relating to borrowings – Amortisation of ancillary costs incurred in …
Why we use Statements of Cash Flows
Statements of cash flows provide us with a different view on the entity’s activities.
Disclosure Requirements for Statements of Cash Flows
In this article we’ll look at the disclosure requirements for statements of cash flows.
Disclosures
Disclosures required under IAS 7 include:
Employee benefits: Pension liabilities under IAS 19
What are future pension obligations?
Future pension obligations are the liabilities a pension plan has to pay the pensions for current employees when they retire, and also to pay the pensions of employees who have already retired.
Employee Benefits: Pension Assets and IAS 19
In this article, we’ll take a quick look over pension assets for under IAS 19 Employee Benefits.
When a company contributes money into a pension fund, the money is invested in shares, bonds and other investments. These are the plan’s assets.
Segment Reporting: Identifying Operating Segments for IFRS 8
Operating Segment Identification
One of the first things an entity must do under IFRS 8 is to identify an operating segment.
Under IFRS 8 an operating segment is a component of an entity:
- that engages in business activities from which it earns revenues and incurs expenses
- whose operating results are regularly reviewed by the entity’s chief operating decision-maker to make decisions about resources to be allocated to the segment and assess its performance, and
- for which discrete financial information is available.
Elements of Financial Statements Part 2: Income and Expenses
In this article we take a look at the other elements of financial statements, which are income and expenses. These are used to report the financial performance of an entity.
The 2 Concepts of Capital under IFRS
The IASB Conceptual Framework identifies two concepts of capital:
Segment Reporting: Disclosures and Reconciliations for IFRS 8
Disclosures
IFRS 8 states that an entity shall disclose information so that users of the financial statements can evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates.