Financial Reporting
- Accounting
Debate On The Best Measurement Method for Assets And Liabilities
The debate over the best measurement method for assets and liabilities is not a new one in the accounting arena.…
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Items of Statement of Profit or Loss And Other Comprehensive Income
Items of Statement of Profit or Loss And Other Comprehensive Income are given and described shortly below. • Income and…
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Items of Statement of Financial Position or Balance Sheet
The following are the items of Statement of Financial Position or Balance Sheet. They are described shortly. • Assets. Assets…
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What Are The Other Components Of Equity?
In the Equity section of the Balance sheet or Statement of Financial Position, Share capital, Retained Earnings and Reserves are…
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Asset Recognition Criteria: When Should An Asset Be Recognized?
Asset recognition criteria: When should an asset be recognized in Accounting? International Financial Reporting Standards again the Conceptual Framework guides…
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Measurement of provision for long service leave and its consistency with the Conceptual Framework for Financial Reporting.
 Accounting and Provision for long service leave requires estimation of when the leave will be taken, projected salary levels and…
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Different accounting treatment for instruments classified as debt and equity instruments ?
Different accounting treatment for instruments classified as debt and equity instruments Instruments classified as debt (liabilities) are accounted for by…
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Rules on the Measurement and Recognition of Share based Payments
Why do IASB formulate rules on the measurement and recognition of share-based payments? Prior to the introduction of IFRS 2…
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Hierarchy In Determining Financial Instruments To Be Equity Instruments
Is there any hierarchy to use in determining a financial instrument to be liability or an equity instruments of the…
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Objectives Of General Purpose Financial Reporting
Objectives of general purpose financial reporting : Paragraph OB2 of the IASB Conceptual Framework states The objectives of general purpose…
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