Although earnings per share is a very popular performance measurement tool, it is not without its drawback and limitations. Here are four important drawbacks you should know for your IAS 33 EPS studies.
We've had a number of requests to produce ACCA F7 Financial Reporting mind maps, so here they are!
Click the link here to view the ACCA F7 Financial Reporting Mind Maps .
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IASB Conceptual Framework
Preparing consolidated financial statements can be stressful. It can be difficult to visualise exactly what to do, and where the journal entries to bring everything together should go.
By using a consolidated worksheet, the process...
The following disclosures are required under IAS 33 Earnings per Share:
The earnings figure used for the calculation of basic and diluted EPS. If this is different to the amount contained in the profit or...
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.
Departure from accounting standards
In very rare circumstances, an entity may need to produce financial reports which do not comply with a specific accounting standard, if compliance with the standard would be so misleading they...
When we look at the statement of comprehensive income, the costs associated with the leased asset held under a finance lease will be:
Finance charges (interest), and
In this article, we look at finance charges...
Let's take a closer look now at how to calculate the present value of the minimum lease payments.
The asset and liability to be recognised is the lower of the fair value of the...
Non-current assets are usually measured in the financial statements at cost or a revalued amount, which is depreciated over the asset's useful economic life.
Sometimes the carrying amount of the non-current asset is not the...
The requirements for recognising and measuring an impairment loss are as follows:
When the recoverable amount of an asset is less than the carrying amount, the carrying amount should be reduced to the recoverable...