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Becky Marte
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Decks in this class (32)
Revenue recognition
Criteria to for when a contract e...,
What is commercial substance,
What is a distinct good
14
cards
Impairment
Indicators of impairment,
Assets which require annual impai...,
Cgu
10
cards
General
Balance sheet
1
cards
Inventory
Merch inventory,
Manufacturing inventory,
Conversion costs
11
cards
PPE
Recognized as ppe if,
Costs that can be capitalized,
Componentization
16
cards
cash & receivables
Cash equivalents,
Ar under ifrs,
Ifrs handbook
9
cards
Passive investments
Purpose,
When to recognize,
Initial measurement
15
cards
Related party trans
Carrying amount method,
Exchange amount method,
Non monetary transactions
7
cards
Government grants
Grants related to income,
Grants related to assets,
Government loans
3
cards
Lease
Ifrs criteria to record a lease l...,
How to record a lease lesse,
Subsequent measurement for lesse
15
cards
Non Monetary
Do not use fv for non monetary if...,
If both assets have reliable fv use,
Aspe ifrs handbook
6
cards
Assets HFS & Discontinued Segments
To be classified as hfs asset,
Measurement of hfs asset,
If fair value goes up after recor...
10
cards
Goodwill & Intangibles
Ifrs handbook,
Types of intangibles,
Criteria to be an intangible asset
16
cards
Contingencies
Criteria to record a contingent p...,
If the provision is probable but ...,
If the provision is possible
6
cards
Foreign Currency Transactions
Functional currency,
Spot rate,
Revenue and expense transaction
8
cards
Decommissioning Provision
Ifrs vs aspe,
Criteria to record liability on bs,
Initial measurement
5
cards
Income taxes
Income not subject to taxes,
Permanent difference items,
Deferred taxes
19
cards
Investments in associates
Aspe and ifrs handbook,
Equity method when to use ifrs,
Joint control
16
cards
Employee Benefits
Two types of retirement plans,
Short term benefits,
Defined contribution plan
15
cards
Share based payment
Two share based payments,
Share options,
Vesting periodvest date
9
cards
Hedge accounting
Hedge accounting required or no,
Hedged item,
Eligible hedged items
7
cards
MD & A
M d a,
Objectives of m d a,
What is included in md and a reports
3
cards
Changes in accounting
3 types of changes,
Change in estimates,
Change in policy
4
cards
EPS
Who must disclose eps,
Basic eps,
Net earnings available to common ...
13
cards
Events after reporting period
If not material,
If material,
Adjusting
5
cards
Business Combinations - Date of acquistion
Two types of business combinations,
Purchase net assets,
Purchase shares
17
cards
Business combinations - after acquistion
Fair value differentials,
Intercompany transactions,
Consolidated i s
5
cards
Joint arrangements
Two types,
Joint operations,
Joint venture
9
cards
Foreign operations
To determine functional currency,
2 types of foreign operations,
Integrated operations
11
cards
Stmt of cash flows
3 sections,
Operating methods,
Direct method
11
cards
Not for profit
Statement of financial position bs,
Statement of operations,
Statement of fund balance
12
cards
Public sector
Users,
F s show
2
cards
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Financial Reporting
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