Financial Reporting 2 (ACC2012W)

Perfect for accounting professionals, students, and anyone keen on mastering International Accounting Standard 38, these notes provide a personal touch to understanding the intricacies of intangible asset accounting. Delve into detailed explanations, practical examples, and insightful interpretations, all presented in a clear and engaging handwritten style. Whether you're studying, practicing, or refining your knowledge, these notes offer a unique perspective to grasp the nuances of financial re...

IFRS 15 Revenue Recognition Formulae Sheet provides a concise guide to the key steps and calculations for recognizing revenue under IFRS 15, including: Five-Step Model: Identify the contract. Identify performance obligations. Determine the transaction price. Allocate the transaction price to obligations. Recognize revenue when obligations are satisfied. Variable Consideration: Calculate using the expected value or most likely amount method. Revenue Over Time: Use percentage of comple...

IFRS 15 Revenue Recognition Formulae Sheet provides a concise guide to the key steps and calculations for recognizing revenue under IFRS 15, including: Five-Step Model: Identify the contract. Identify performance obligations. Determine the transaction price. Allocate the transaction price to obligations. Recognize revenue when obligations are satisfied. Variable Consideration: Calculate using the expected value or most likely amount method. Revenue Over Time: Use percentage of comple...

This document details the workings and general ledger accounts to illustrate how yo calcule current tax in the financial statements

This document details the consolidation process of subsidiaries to group financial statements as well as associates using detailed illustrative examples and notes .

This document summarises the application of IFRs 8

This document works through the IAS 37 standard and gives a detailed breakdown of what a provision is , what a liability is , what a contingent asset vs contingent liability is , what a reimbursement is and has detailed examples that display not only how to answer questions and what key areas to focus on but also how to apply the standard

This document introduces the topic of group accounting and indicates how to consolidate , what the starting point is before consolidating and what proforma journal entries need to be processed . Moreover , it includes detailed examples of how to do so . Additionally it illustrates how to present consolidated financial statements ; statement of comprehensive income , statement of financial position, statement of changes in equity and statement of cash flows . It illustrated through worked ...

This document details how to attribute profits in statement of comprehensive income to the non- controlling interest and parent equity holders , how to calculate goodwill using the full and partial method , how to account for preference shares in a group consolidation.

This document entails a brief layout structure of presenting the statement of cash flows on the “ Direct” method versus the “ indirect” method as per IFRS 7 and additionally briefly gives guidance on what to include under “ operating activities” , “ investing activities” and “ financing activities” as per IFRS 7