ifrs for smes-ait.ppt
TRANSCRIPT
8/20/2019 IFRS for SMEs-AIT.ppt
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Small and Medium-sizedEntities (SME’s)
SME’s are entities that
a. publish general purpose fnancialstatements for external users, and
b. do not have public accountability.
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Publicl !ccountableEntities !n entit has public accountabilit if"
#ts debt or e$uit instruments are traded in apublic mar%et, or
#t holds assets in a &duciar capacit for abroad 'roup of outsiders.
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he eed for a Separate Standard
for SME’s*i+erences in the tpes and needs of users of
SME’s &nancial statements
Si'ni&cant cost of applin' full #S
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asic eatures of #S for
SME’s#S for SME’s is a stand-alone document
#S for SME’s is developed from full
#S#t is a simpli&cation of full #S
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Simplifcations made to IFRSOmission o some topics in IFRS
Exclusion o some accounting policy options in ullIFRS
Simplifcation o the recognition andmeasurement principles
Simplifcation o the required disclosures
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Omitted TopicsEarning per share
Interim fnancial reporting
Segment reportingSpecial accounting or assets held or sale
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Borrowing ostsSection 25 IAS 23
!ll "orrowing costs arerecogni#ed as expensewhen incurred
Borrowing costs incurredin connection with theconstruction orproduction o a qualiyingasset are capitali#ed aspart o the cost o the
asset
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Employee BeneftsSection 28 IAS 19
!ll past ser$ice costs arerecogni#ed immediately in
proft or loss%!ctuarial gains or losses are
recogni#ed immediately ineither proft or loss or othercomprehensi$e income%
&ro'ected unit credit methodis used to measure defned"eneft o"ligation and therelated expense only i it ispossi"le to do so withoutundue cost or e(ort%
)n$ested past ser$ice costs
are amorti#ed on a straight*line
"asis o$er the $esting period%!ctuarial gains or losses may
"e
+eerred and amorti#edusing corridor approach, or
Recogni#ed immediately ineither proft or loss or othercomprehensi$e income
&ro'ected unit credit method isrequired
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In$estment in !ssociatesSection 14 IAS 28
In$estment in associatesshall "e accounted or
using- Equity model, Fair $alue model, or ost model
In$estment in associatesmust "e accounted or
using the equity method
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In$estment in .oint/enturesSection 15 IAS 31
In$estment in 'oint$entures shall "e
accounted or using- Equity model, Fair $alue model, or ost model
&roportionate consolidationis not permitted
In$estment in 'oint$entures must "e
accounted or using the Equity method, or
&roportionate consolidation
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In$estment &ropertySection 16 IAS 40
In$estment property shall"e measured at air $alue
through proft or loss i theair $alue can "e measuredrelia"ly without undue costor e(ort
Otherwise0 the in$estmentproperty shall "e accountedor as property0 plant andequipment using the cost*depreciation*impairmentmodel
In$estment property may"e accounted or using- Fair $alue model, or
ost*depreciation* impairmentmodel
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&roperty0 plant andequipmentSection 17 IAS 16
Scope o Section 12 includes- In$estment property whose
air $alue can not "emeasured relia"ly withoutundue costs or e(ort, and
3on*current assets held orsale
&roperty0 plant and equipmentare measured at cost lessaccumulated depreciation andaccumulated impairmentlosses% Re$aluation is not permitted
I!S 14 applies only to&roperty0 plant and equipment
In$estment property is co$ered"y I!S 56
3on*current asset held or saleis co$ered "y IFRS 7
&roperty0 plant and equipment
can "e measured using- ost*depreciation*impairment
model, or
Re$aluation model
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&roperty0 plant andequipmentSection 17 IAS 16
Re$iew o &&E8s useul lie0residual $alue0 depreciation
rate is made only i there isa signifcant change in theasset or how it is used
Requires annual re$iew o&&E8s useul lie0 residual
$alue0 depreciation rate
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!gricultureSection 34 IAS 41
Biological assets shall "emeasured at air $alue less
cost to sell i the air $alueis readily determina"lewithout undue costs ore(ort
Otherwise0 "iological assetsshall "e measured at costless accumulateddepreciation andaccumulated impairmentlosses
Biological assets aremeasured at air $alue less
cost to sell There is a presumption that
air $alue can "e measuredrelia"ly or "iological assets
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Intangi"le !ssetsSection 18 IAS 38
!ll costs incurred to internallyde$elop intangi"le assets such
as research and de$elopmentcosts are charged to expense
Intangi"le assets must "emeasured using cost*amorti#ation*impairment model Re$aluation o intangi"le asset is
not permitted
!ll intangi"le assets areconsidered to ha$e a fnite lie% Iuna"le to estimate the useullie o an intangi"le asset0 thelie is presumed to "e 16 years
Research costs are recogni#edas expense when incurred
while de$elopmental costsmay "e capitali#ed as part ocost o an intangi"le asset
Intangi"le asset may "eaccounted or using-
ost*amorti#ation*impairmentmodel, or
Re$aluation model
Intangi"le asset withindefnite lie is not amorti#ed
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Intangi"le !ssetsSection 18 IAS 38
!morti#ation periods andmethods0 and the residual
$alue o intangi"le assetsshall "e re$iewed only ithere is a signifcantchange in the asset or howan intangi"le asset is used%
!morti#ation periods andmethods0 and the residual
$alue o intangi"le assetsmust "e re$iewed at eachreporting period%
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Share*"ased &aymentSection 26 IFRS 2
:easure asset;expense"ased on the Fair $alue o the goods or
ser$ices recei$ed,
Fair $alue o the equityinstruments granted
The director8s "est
estimate o the air $alue othe equity settled share"ased payment
:easure asset;expense"ased on the Fair $alue o the goods or
ser$ices recei$ed,
Fair $alue o the equityinstruments granted
Intrinsic $alue o the equity
instruments
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<easesSection 20 IAS 17
<ease payments underoperating leases shall "e
recogni#ed asincome;expense on astraight*line "asis unless !nother "asis is more
representati$e o the timing
o the "enefts o"tained "ythe user o the asset, or
the payments arestructured to increase inline with expected generalin=ation%
<ease payments underoperating leases shall "e
recogni#ed asincome;expense on astraight*line "asis unless !nother "asis is more
representati$e o the timing
o the "enefts o"tained "ythe user o the asset
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Foreign urrency Translation
Section 30 IAS 21
>hen a oreign operation isdisposed o0 any cumulati$e
amount in equity is recognisedin comprehensi$e income ? notin proft or loss
>hen a oreign operation isdisposed o0 any cumulati$e
amount in equity is recognisedin proft or loss
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Basic FinancialInstrumentsSection 11 IAS 39
+e"t instruments aremeasured at amortised cost
+e"t instruments that areclassifed as current aremeasured at theundiscounted amount
In$estments in non*con$erti"le preerence shares
and non*putta"le ordinary orpreerence shares are
measured at air $aluethrough proft or loss @ireadily determina"leA
Financial instruments areclassifed as trading securities0
a$aila"le or sale or held tomaturity depending on theintention o management%
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Other FinancialInstrumentsSection 12 IAS 39
edge accounting cannot "eachie$ed "y using de"t
instruments as edge accounting is not
permitted with an option*"ased hedging strategyhedging instrument
edge accounting or portoliois not permitted
+e"t instruments can "e usedas hedging instrument or a
hedge o oreign currency risC Option*"ased hedging strategy
is permitted
edge accounting or portoliois permitted
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omplete Set o FinancialStatementsIFRS for SM! Fu"" IFRS
omplete set o FS includes-
Statement o Financial &osition
Statement o Income Statement o ash Flows
Statement o hanges in Equity
Statement o omprehensi$eIncome
3otes to Financial Statements
Statement o income and retainedearnings may "e presented inplace o Statement o changes inequity and Statement ocomprehensi$e income
omplete set o FS includes-
Statement o Financial
&osition Statement o Income
Statement o ash Flows
Statement o hanges inEquity
Statement oomprehensi$e income
3otes to FinancialStatements
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Financial Statement&resentationair presentation" presumed to result if the
#S for SMEs is follo/ed
SMEs shall present a complete set of &nancialstatements at least annuall
!t least one ear comparative &nancialstatements and note data
Presentation and classi&cation of itemsshould be consistent from one period to thenext.
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In$entories:easured at the lower o cost and estimated
selling price less costs to complete and sell
ost is determined using-
Specifc identifcation or large items
FIFO or weighted a$erage or others
In$entory cost includes costs to purchase0
costs o con$ersion and costs to "ring theasset to present location and condition
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In$entories* cont%I a production process creates 'oint products
and;or "y*products0 the costs are allocated ona consistent and rational "asis
!llocate fxed production o$erheads toin$entories "ased on normal capacity
Impairment ? write down to net reali#a"le
$alue
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Business om"inations and
9oodwill
!cquisition @purchaseA method% )nder this method-!n acquirer must always "e identifed
The cost o the "usiness com"ination is measured%
!ll goodwill must "e amorti#ed% I the entity isuna"le to estimate useul lie0 then use 16 years%
D3egati$e goodwillD ? frst reassess originalaccounting% I that is oC0 then immediate credit to
proft or lossImpairment testing o goodwill
Re$ersal o goodwill impairment is not permitted
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&ro$isions andontingencies
#ro$i!ion! are recogni#ed only when
1% there is a %re!ent o&"i'(tion as a result o apast e$ent0
% it is %ro&(&"e that the entity will "e required totranser economic "enefts0 and
% the amount can "e e!tim(ted re"i(&"y%
)ontin'ent "i(&i"itie! 3ot recognised as lia"ilities% *i!c"o!e i reasona"ly possi"le or pro"a"le "ut
not estima"le
)ontin'ent (!!et! 3ot recognised as assets% *i!c"o!e i %ro&(&"e
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<ia"ilities and Equity9uidance on classiying an instrument as lia"ility or
equity The equity instruments issued are measured at the
f(ir $("ue of c(!h or re!ource! recei$ed0 net odirect costs o issuance%
Su"scriptions recei$a"le is presented as an o+!etto equity and not as an asset%
StocC di$idends and stocC splits do not result inchanges to total equity "ut0 rather0 rec"(!!i,c(tion
o amounts within equity% DS%"it (ccountin'D is required to account or
issuance o con$erti"le instruments
ost o treasury shares are deducted rom theequity% 3o gain or loss is recognised on su"sequentresale o treasury shares%
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Re$enueReco'nition #rinci%"eS("e o goods and ser$ices
ustomer loyalty plan awards need to "e(ccounted for !e%(r(te"y%
Me(!urement #rinci%"ef(ir $("ue of the con!ider(tion recei$ed or
recei$(&"e0 net o discounts and re"ates
I payment is deerred "eyond normal paymentterms0 measure at the %re!ent $("ue% Thedi(erence is recogni#ed as interest re$enue%
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Income TaxIncome tax expense must include "oth current
and deerred tax
urrent tax expense is computed "ased ontaxa"le incomeurrent tax asset or lia"ility is recogni#ed or the
di(erence "etween current tax due and current tax paid%
+eerred tax results rom temporary di(erences! temporary di(erence is a di(erence "etween the
carrying amount o an asset or lia"ility and its tax "asis
that will result in a taxa"le or deducti"le amount in theuture%
+eerred tax assets are recognised or all deducti"letemporary di(erences and unused tax losses andunused tax credits%
+eerred taxes are all non*current
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yperin=ation !n entity must prepare 'ener(" %rice/"e$e"
ad'usted fnancial statements when itsunctional currency is hyperin=ationary
In price*le$el ad'usted fnancial statements0all amounts are stated in terms o the@hyperin=ationaryA presentation currency atthe end o the reporting period%
The proft or loss on the net monetaryposition is included in proft or loss%
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E$ents ater the End o the
Reporting &eriod
E$ents ater the end o the reporting period areclassifed as
1% !d'usting e$ents Those that pro$ide e$idence o conditions that
ei!ted (t %eriod end
% 3on*ad'usting e$ents Those that are indicati$e o conditions that arose
(fter %eriod end
I an entity declares di$idends ater thereporting period0 the entity shall not recogni#ethose di$idends as a lia"ility at the end o thereporting period%
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Speciali#ed !cti$ities*!gricultureI the air $alue o a class o "iological
asset is readily determina"le withoutundue cost or e(ort0 use the air $alue
through proft or loss model%Otherwise0 measure the "iological assets
at cost less and accumulated depreciationand impairment%
!t har$est0 agricultural produce is "emeasured at air $alue less estimatedcosts to sell% Thereater it is accounted or
as in$entory%
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Speciali#ed !cti$ities*
Extracti$e IndustriesExpenditure on tangi"le or intangi"le assets
used in extracti$e acti$ities is accounted orunder Section 12 Property, Plant and
Equipment and Section 1G Intangible Assetsother than Goodwill
!n o"ligation to dismantle or remo$e items orrestore sites is accounted or using Section 12and Section 1 &ro$isions and ontingencies%
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Speciali#ed !cti$ities*
Ser$ice oncession!rrangements The operator either recogni#es a fnancial
asset or an intangi"le asset depending onwhether the grantor @go$ernmentA haspro$ided an unconditional guarantee o
payment or not%! fnancial asset is recogni#ed to the extent
that the operator has an unconditionalcontractual right to recei$e cash or anotherfnancial asset%
!n intangi"le asset is recogni#ed to theextent that the operator recei$es a right or
license to charge users or the pu"lic ser$ice%
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0b1ective of
inancial Statements of SME’she ob1ective of &nancial statements of SME’sis to provide information about the entit thatis useful to a /ide ran'e of users in ma%in'
economic decision"
1. Financial position
2. Perormance, and
3. Cash ows
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2ualitative 3haracteristics of
inancial Statements of SME’s4nderstandabilitelevanceMaterialitimeliness
eliabilitaithful epresentationeutral
Substance over form3ompletenessPrudence
3omparabilit
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Pervasive eco'nition and
Measurement Principles1. ccrual
!n entit shall prepare its &nancialstatements usin' the accrual basis ofaccountin'
2. Cost
!n entit shall initiall measure its assets
and liabilities at cost3. !"setting
!n entit shall not o+set assets andliabilities, or income and expenses.
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air Presentation !pplication of #S for SME’s
5usti&able departure from this #S anddisclosure re$uirements.
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6oin' 3oncernundamental assumption in the preparationof the &nancial statements
Mana'ement’s assessment of theappropriateness of usin' 'oin' concernassumption
*isclosure re$uirements if"
Material 'oin' concern uncertainties exist6oin' concern assumption is not appropriate
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re$uenc of eportin'Present complete set of &nancial statementsat least annually .
3han'e in reportin' period, disclose"
his fact
eason
3omparative amounts are not entirel
comparable
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3omparative #nformationumerical comparative information isre$uired
arrative comparative information is alsore$uired
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3onsistenc of
Presentationetain the same presentation andclassi&cation of items from one period to thenext unless" !nother presentation or classi&cation /ould be
more appropriate.
his #S re$uires
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Materialit and
!''re'ationEach material class of similar items should bepresented separatel
#tems of a dissimilar nature or functionshould be presented separatel unless theare immaterial
#mmaterial items should be a''re'ated /ith
amounts of similar nature or function.
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Statement o
Financial &ositionMa still be called 7balance sheet7
3urrent8non-current split is not re$uired ifthe entit concludes that a li$uidit approachproduces more relevant information
Some minimum line items re$uired
Some re$uired items ma be presented in the
statement or in the notesSe$uencin', format, and titles are not
mandated
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Statement of inancial Position"
Minimum #nformation3ash and cash e$uivalents
rade and other receivables
inancial assets
#nventories
Propert, plant and e$uipment
#nvestment propert
#ntan'ible assets
iolo'ical assets carried atcost less accumulated
depreciation
iolo'ical !ssets carried atfair value throu'h pro&t orloss
#nvestment in associates
#nvestment in 1ointlcontrolled entities
rade and other paables
inancial liabilities
9iabilities8!ssets for currenttaxes
*eferred tax
liabilities8assetsProvisions
on-controllin' interest
E$uit attributable to theo/ners of the parent
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3urrent8on-current
*istinctionPresent assets and liabilities separatel under
current and non-current classi&cation unlesspresentation based on li$uidit is reliable and more
relevant. !ssets and liabilities shall be presented in order of
approximate li$uidit (ascendin' or descendin')
3lassif assets and liabilities as current if the
are"#nvolved in the operatin' ccle
Expected to be realized or settled /ithin t/elvemonths from the reportin' date.
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3lassi&cation of !ssets3lassif an asset as current /hen"
#t is cash or a cash e$uivalent
#t is held primaril for the purpose of tradin'
#t is expected to be realized, sold or consumed/ithin the entit’s normal operatin' ccle
#t is expected to be realized /ithin t/elvemonths after the reportin' date
3lassif all other assets as non-current
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*i l i
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*isclosure e$uirements-Subclassi&cation for !ssets
rade and other receivables sho/in' separatel" !mounts receivable from trade customers !mounts due from related parties !mounts due from other partieseceivables arisin' from accrued income not et
billed#nventories:eld for sale in the ordinar course of business#n the process of production for such sale
#n the form of materials and supplies to be consumedin the production process or renderin' of servicesPropert, plant and e$uipment in classi&cations
appropriate to the entit
*i l i
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*isclosure e$uirements-Subclassi&cation for liabilities
rade and other paables sho/in'separatel"
!mount paable to trade creditors
!mounts paable to related parties
*eferred income
!ccrual
Provision for emploee bene&ts and otherprovision
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*isclosure e$uirements-
Shareholders’ E$uitClasses o e#uity
Paid-in capital Share premiumetained earnin's
#ncome and expensesreco'nized in othercomprehensive income
For each class o sharecapital$umber of shares authorizedumber of shares issued Par value per share
econciliation of number ofshares outstandin' at thebe'innin' and at the end of theperiod.
i'hts, preferences andrestrictions attachin' to thatclass
reasur shares or shares held
b its subsidiar or associates Shares reserved for issue under
options and contracts for thesale of shares includin' termsand amounts
description o eachreser%ed in the e#uity
Statement o
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Statement oomprehensi$e Income H
Income Statement0ne-statement or t/o-statement approach
!n entit ma present onl an income statementif it has no items of other comprehensive income(03#)
Must se're'ate discontinued operations
Must present 7pro&t or loss7 subtotal if the entithas an items of other comprehensive income
ottom line is 7pro&t or loss7 in the incomestatement and 7total comprehensive income7 inthe statement of comprehensive income
o item ma be labelled 7extraordinarD
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Statement of 3omprehensive #ncome-
Minimum #nformationevenueinance costsShare of the pro&t or loss of
investment in associates and
1ointl controlled entitaccounted for usin' thee$uit method
ax expense ! sin'le amount comprisin'
the total of post-tax e+ect of
discontinued operation andpost tax e+ect of disposal ofnet assets constitutin'discontinued operation
Pro&t or loss
Each item of othercomprehensive income
Share of the othercomprehensive income of
investment in associates and 1ointl controlled entitaccounted for usin' thee$uit method
otal comprehensive income
Note: Disclose separately the proft orloss and total
comprehensive income attributableto: Non-controlling interest Owners of the parent
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Statement o ash Flows3lassif chan'es in cash and cash
e$uivalents for a period as to operatin',investin' or &nancin' activities
0ption to use the indirect method or the
direct method to present operatin' cash;o/s
#nterest (paid and received) and dividends(received) ma be classi&ed as operatin',
investin', or &nancin'Separate disclosure is re$uired of some non-
cash investin' and &nancin' transactions
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#nformation presented in
Statement of 3han'es in E$uit&otal comprehensi%e income sho/in'
separatel amounts attributable to o/ners ofthe parent and to non-controllin' interests
or each component of e$uit, areconciliation bet/een the carrin' amountat the be'innin' and at the end of the periodseparatel disclosin' chan'es resultin' from"Pro&t or loss
E+ect of retrospective ad1ustmentsEach item of other comprehensive income !dditional contributions b and distributions to
o/ners includin' treasur share transactions
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Statement of #ncome and
etained Earnin's !n entit ma present a statement of
income and retained earnin's in place ofstatement of comprehensive income and
statement of chan'es in e$uit if the onlchan'es a+ectin' the e$uit durin' theperiod arise from"
1. Proft or loss
2. Payment o di%idends3. Correction o prior'period errors
(. Changes in accounting policy
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)F*+ F!* +-+
/!&-+ &! F)//C)0 +&&--/&+
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Presentin' the otes to
S Present the note in a sstematic manner 3ross-refer each item in the &nancial
statements to an related information in the
notes ormall presented in the follo/in' order"
<. 3ompan information
=. Statement of compliance /ith #S for SME’s
>. Summar of si'ni&cant accountin' policies
?. Supportin' information or computation for line itemspresented in the S
@. 0ther &nancial and non-&nancial disclosures
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S* FS &RESE3T!TIO3!n entity shall maCe an explicit andunreser$ed statement o compliance with IFRSor S:E8s
&resent complete set o FS at least annually
omparati$e presentation o amounts
3arrati$e comparati$e should "e made when
it is rele$ant to an understanding o thecurrent FS
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S* FS &RESE3T!TIO3+eparture rom this IFRS
The act that FS are airly presented
FS complied with this IFRS except that it has
departed rom a particular requirement toachie$e air presentation
3ature o departure and reason why compliancewith a particular requirement would "e so
misleading
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S* FS &RESE3T!TIO3+isclose going concern uncertainties
The act that the entity is not a going concernand the "asis o presentation
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S* FS &RESE3T!TIO3hange in classifcation
3ature
!mount o items reclassifed
Reason or reclassifcation
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S* FS &RESE3T!TIO3!n entity shall disclose the ollowing in thenotes-
+omicile and legal orm o the entity
ountry o incorporation
Oce address
+escription o the nature o entity8s operations
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S* FS &RESE3T!TIO3!n entity shall display the ollowinginormation prominently-
3ame o reporting entity
9roup or indi$idual FS
+ate and period co$ered "y the FS
&resentation currency and the le$el o rounding
S5 St t t Fi i l
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S5* Statement o Financial
&osition• !n entity shall disclose0 either in the statement o fnancialposition or in the notes the ollowing !u&c"(!!i,c(tion! othe line items presented- – &&E –
In$entory – Trade and other recei$a"les• +ue rom related parties• +ue rom other parties• !ccrued income not yet "illed
– Trade and other paya"les• +ue to trade suppliers• +ue to related parties• +eerred income• !ccrual
– &ro$isions – Equity
S5 Statement o Financial
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S5* Statement o Financial&osition• !n entity with share capital shall disclose the
ollowing either in the statement o fnancialposition or in the notes- – 3um"er o shares authori#ed
– 3um"er o shares issued – &ar $alue per share
– Reconciliation o shares outstanding at the"eginning and at the end o the period
–
Treasury shares held "y the entity0 su"sidiariesor associates
– Rights0 preerences and restrictions attached toeach class o share capital
– +escription o each reser$e within the equity
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S7* Statement o Income!n entity shall present an analysis oexpenses using classifcation either "ased onthe nature o expenses or unction o
expenses within the entity0 whiche$erpro$ides inormation that is relia"le and morerele$ant
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S7* Statement o Income!n entity shall disclose separately-
&roft or loss or the period attri"uta"le toparent and non*controlling interest
Total comprehensi$e income or the periodattri"uta"le to parent and non*controllinginterest
S4 Statement o hanges in
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S4* Statement o hanges inEquity!n entity shall present in the statement o
changes in equity-
Total comprehensi$e income
For each component o equity- &roft or loss
Each item o other comprehensi$e income
E(ect o retrospecti$e restatements
In$estment0 di$idends and other equity transactions
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S4* Statement o Income
and Retained Earnings!n entity shall present the ollowing in thestatement o income and retained earnings-
Retained earnings at the "eginning o the
period+i$idends declared and paid
Retrospecti$e restatement o retained earnings
Retained earnings at the end o the period
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S2* Statement o
ash=ows!n entity shall present cash=ows romoperating acti$ities using either
+irect, or
Indirect method
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S2* Statement o
ash=ows!n entity shall present separately cash=owsarising rom income tax and shall classiythem as cash=ows rom operating acti$ities
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S2* Statement o
ash=ows!n entity shall present separately cash=owsrom interest and di$idends recei$ed and paid%
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S2* Statement o
ash=ows!n entity shall disclose non*cash in$estingand fnancing acti$ities elsewhere in the FS ina way that pro$ides all the rele$ant
inormation a"out in$esting and fnancingacti$ities
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S2* Statement o
ash=ows!n entity shall present the components ocash and cash equi$alents%
!n entity shall present a reconciliation o the
amounts presented in the statement o cash=ows to the equi$alent items presented in thestatement o fnancial position
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S2* Statement o
ash=ows!n entity shall disclose0 together withcommentary "y management0 the amount ocash and cash equi$alents held "y the entity
that are not a$aila"le or use "y the entity%
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S16* !ccounting policies0
estimates and errorsFor in$oluntary change in accounting policies0disclose-
3ature o the change
E(ect on each line item a(ected or current andprior period;s presented
E(ect relating to period;s not presented
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S16* !ccounting policies0
estimates and errorsFor $oluntary change in accounting policies0disclose-
3ature o the change
.ustifcation or the change
E(ect on each line item a(ected or current andprior period;s presented
E(ect relating to period;s not presented
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S16* !ccounting policies0
estimates and errorsFor prior period errors-
3ature o the error
E(ect on each line item a(ected or current and
prior period;s presentedE(ect relating to period;s not presented
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S16* !ccounting policies0
estimates and errorsFor change in estimate-
3ature o the change
E(ect on each line item a(ected or current and
one or more uture period;s i practica"leE(ect relating to period;s not presented
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S11* Basic Financial
Instruments!n entity shall disclose0 in the summary osignifcant accounting policies0 themeasurement "asis @or "asesA used or
fnancial instruments
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S11* Basic Financial
Instruments!n entity shall disclose the carrying amount oeach o the ollowing categories o fnancialinstruments-
Financial assets;lia"ilities measured at F/+e"t instruments measured at amorti#ed cost
Financial assets @equityA measured at cost
S11 Basic Financial
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S11* Basic Financial
Instruments!n entity shall disclose signifcant inormationand description o its fnancial instrumentssuch as the terms and conditions0 interest
rate0 maturity0 repayment schedules andrestrictions imposed%
S11 Basic Financial
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S11* Basic Financial
InstrumentsFor fnancial instruments measured at air$alue through proft or loss0 the entity shalldisclose the "asis or determining the air
$alue0 e%g% quoted marCet prices or $aluationtechniques%
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S11* Basic Financial
Instruments>hen an entity has pledged fnancial assetsas collateral or lia"ilities or contingentlia"ilities0 it shall disclose
The carrying amount o the fnancial asset Terms and condition relating to its pledge
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S11* Basic Financial
Instruments• !n entity shall disclose-
– Income and expenses recogni#ed• Financial assets measured at F/
• Financial lia"ilities measured at F/• Financial assets measured at amorti#ed cost
• Financial lia"ilities measured at amorti#ed cost
– Total interest income or interest expense
@calculated using the e(ecti$e interest methodA – !mount o impairment loss recogni#ed on
fnancial assets
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S1* In$entories!n entity shall disclose-
!ccounting policy and cost ormula
arrying amount o in$entory @total and
classifedA!mount o in$entory recogni#ed as expense
Impairment loss recogni#ed;re$ersed
In$entories pledged as collateral
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S15* In$estment in
!ssociates!n in$estor in associate shall disclose-
Its accounting policy
arrying amount
Fair $alue o in$estment @i there are pu"lishedquotationsA
+i$idend income @or cost methodA
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S14* In$estment &roperty!n entity shall disclose-
:ethods o determining the F/ and signifcantassumptions applied
The extent to which the F/ was determined "ya qualifed independent $aluer
Existence o restrictions on the reali#a"ility oin$estment property
ontractual o"ligation to purchase0 construct0de$elop or maintain in$estment property
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S14* In$estment property!n entity shall disclose a reconciliation o thecarrying amount o in$estment property0showing separately-
!dditionsF/ ad'ustments
Transers
Others
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S12* &roperty0 &lant and
Equipment• !n entity shall disclose the ollowing or each class o &&E- – :easurement "asis – +epreciation method – )seul li$es or depreciation rate –
9ross carrying amount and accumulated depreciation at the"eginning and at the end o the period – Reconciliation showing separately
• !dditions• +isposals• Transers• +epreciation• Impairment• Others
This reconciliation need not be presented for prior periods
l d
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S12* &roperty0 &lant and
Equipment!n entity shall disclose-
&&E used as collateral or a loan
!mount o contractual commitment
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S1G* Intangi"le !ssets• !n entity shall disclose the ollowing or each class oIntangi"le assets- – !morti#ation methods used – )seul li$es or depreciation rate –
9ross carrying amount and accumulated amorti#ation atthe "eginning and at the end o the period – Reconciliation showing separately
• !dditions• +isposals• !cquisitions through "usiness com"ination•
!morti#ation• Impairment• Others
This reconciliation need not be presented for prior periods
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S1G* Intangi"le !ssets• !n entity shall also disclose-
– ! description0 carrying amount and amorti#ationperiod o any indi$idual intangi"le asset that is
material to the entity – arrying amount and original air $alue o
intangi"le assets acquired "y go$ernment grants
– arrying amounts o intangi"le assets that are
pledged as security or lia"ilities – !ggregate amount o research and de$elopment
costs recogni#ed as expense
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S1K* Intangi"le !ssetsFor "usiness acquisition0 an entity shall disclose-
3ames and descriptions o com"ining "usinesses
+ate o acquisition
&ercentage o $oting equity instruments acquired!cquisition cost and component o cost
!mounts initially recogni#ed or each class o theacquiree8s assets0 lia"ilities and contingent
lia"ilities including goodwillIncome recogni#ed rom "usiness com"ination
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S1K* Intangi"le !ssets• !n entity shall disclose a reconciliation o the
carrying amount o goodwill at the "eginning and
end o the reporting period0 showing separately-
–
hanges arising rom new "usiness com"ination – Impairment losses
– +isposals o pre$iously acquired "usinesses
– Others
This reconciliation need not be presented for prior periods
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S6* <eases @<essorA
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@ A• For operating lease0
disclose- – ontingent rent
recogni#ed as income – Total o uture
minimum leasepayments or each o
the ollowing- – 3ot later than one year – <ater than one year and
not later than f$e years – <ater than f$e years
– 9eneral description o
signifcant leasingarrangements
For fnance lease0disclose-Reconciliation at the end o the
reporting period "etween grossin$estment and &/ o minimumlease payment
Total o uture minimum leasepayments and &/ o minimum
lease payments or each o theollowing-
– 3ot later than one year
– <ater than one year and notlater than f$e years
– <ater than f$e years
)nearned fnance income
9eneral description o signifcantleasing arrangements
S1* &ro$isions andti i
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contingencies• For &ro$isions0 disclose-
–
Reconciliation showing- – arrying amount at the
"eginning and period end – !dditions – harges – )nused amounts re$ersed
during the year
– 3ature o pro$ision andexpected amount andtiming o payment
– Indication ouncertainties a"outtiming and amount
– !mount o expectedreim"ursement includingasset recogni#ed
For contingent
lia"ilities0 disclose-3ature o contingent
lia"ility
Estimate o fnancial
e(ect;sIndication o
uncertainties a"outtiming and amount
&ossi"lereim"ursement
S1* &ro$isions and
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S1 &ro$isions andcontingencies• For pro"a"le contingent assets0 disclose-
– 3ature
– Estimate o fnancial e(ect or a statement the
act that it is not practica"le to estimate thefnancial e(ect
• For pre'udicial disclosures0 disclose only-
– 9eneral description o the nature o the dispute
– The act that inormation has not "eendisclosed
– The reason why it has not "een disclosed
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S* Re$enue!n entity shall disclose-
• !ccounting policies adopted
• !mount o each category o re$enue recogni#ed
during the period
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S* Re$enueFor re$enue rom construction contracts0 anentity shall disclose-
• !mount o contract re$enue recogni#ed
• :ethods used to determine contract re$enue• :ethods used to estimate the stage o
completion
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S5* 9o$ernment grants!n entity shall disclose-
• 3ature and amount o grants
• )nulflled conditions and other contingencies
attaching to go$ernment grants• +escription o other go$ernment assistance
recei$ed "y the entity
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S7* Borrowing costs!n entity shall disclose-
• Finance costs
• Total interest expense using e(ecti$e interest
method
S2 I i t
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S2* Impairment o
assets!n entity shall disclose-
• Impairment losses included in each line item othe income statement
• Re$ersal o impairment losses included in eachline item o the income statement
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SG* Employee "enefts• For defned "eneft plan0 disclose-• 9eneral description o the plan• &olicy or recogni#ing actuarial gains and losses and
amount recogni#ed during the period•
+ate o the most recent actuarial $aluation• Reconciliation at the "eginning and at period end or
+BO and &!%• !mount recogni#ed as expense or capitali#ed• F/ or ratio o each class o &! in relation to total F/ o
&!• !ctual return on &!• &rincipal actuarial assumptions
• For defned contri"ution plan0 disclose-• !mount recogni#ed as expense
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SK* Income taxes!n entity shall disclose ma'or components ototal tax expense-
• urrent tax expense
• !mount o +TE relating to origination andre$ersal o temporary di(erences
• !mount o tax expense relating to changes inaccounting policies and errors
• !mount o +TE arising rom changes in taxrates
• Others
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SK* Income taxes• !n entity shall disclose separately-
• !mount o +T!;+T< at the end o reporting period
• !nalysis o changes in +T!;+T<
• Expiry date and $aluation allowance or +T!• Explanation o signifcant di(erences in amounts
presented in IS amounts reported or tax purposes
• urrent and +T relating to items o OI
• Explanation o changes in the applica"le tax rates• Income tax consequence that would result rom
di$idend payments
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S* Su"sequent e$ents!n entity shall disclose-
• +ate when fnancial statements wereauthori#ed or issue
• >ho ga$e the authori#ationFor non*ad'usting e$ent0 disclose-
• 3ature o e$ent
• Estimate o fnancial e(ect or a statement thatsuch estimate can not "e made
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S* Related &arties• !n entity shall disclose-
• 3ame o its parent entity and ultimate parent
• Jey management compensation in total
• For related party transactions0 discloseseparately or su"sidiaries0 aliates0 Ceymanagement personnel and other relatedparties-•
3ature o relationship and transaction• !mount o transaction and outstanding "alances
• &ro$ision or uncollecti"le related party recei$a"lesrecogni#ed as expense
S5 Speciali#ed
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S5* Speciali#ed
acti$ities• !griculture* F/• +escription o each class o "iological assets
• :ethods and signifcant assumptions applied indetermining F/
• Reconciliation o carrying amounts o "iological assets atthe "eginning and period end
• !griculture* ost• +escription o each class o "iological assets
• Explanation why F/ can not "e measured relia"ly
• +epreciation method used and useul li$es or rates used
• Reconciliation o the gross carrying amount andaccumulated depreciation at the "eginning and periodend
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&*/+)&)!/ &! &- )F*+ F!*+-+
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#S-#ME !*0P#0 !n entit is a &rst-time adopter if it prepares&nancial statements in accordance /ith this#S for the &rst time and the entit
*id not present &nancial statements in theprevious periodA
Presented its most recent previous &nancialstatements in conformit /ith full #SA or
Presented its most recent previous &nancialstatements usin' other 6!!P.
P03E*4ES ! *!E 0
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P03E*4ES ! *!E 0
!S##0Prepare an openin' &nancial position inaccordance /ith this #Seco'nize
*ereco'nizeeclassif
emeasure
reat the cumulative e+ect8ad1ustmentsresultin' from the above transitiondirectl to openin' etained Earnin's (or,if appropriate, other e$uit account)
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EBEMP#0Sair value as deemed cost
evaluation as deemed cost
3umulative translation di+erences
3ompound &nancial instruments
*ecommissionin' costs
*eferred income tax
*#S390S4ES
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*#S390S4ESExplain ho/ the transition has a+ected its
&nancial statements*escription of the nature of each chan'e in
accountin' polic
econciliation of pro&t or loss for the most recent
&nancial statements determined in accordance/ith its previous &nancial reportin' frame/or%
econciliation of its e$uit for both he date of transitionA and
End of the latest period presented in the entit’s mostrecent annual &nancial statements determined inaccordance /ith its previous &nancial reportin'frame/or%
:icrosoft OIce
ord +ocumen
Rich Text Format
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