My lecture slides IFRS Unit 4 Balance Sheet

My lecture slides IFRS Unit 4 Balance Sheet - issued but...

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Click to edit Master subtitle style 9/24/09 International Standards Unit 4 Balance Sheet
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9/24/09 Presentation and Classification No format specified Classify items current/non-current unless  liquidity more appropriate No requirement that current comes before non- current If Liquidity classification used, assets/liabilities  reported in order of liquidity One year comparative required
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9/24/09 US Presentation Classified or non-classified allowed Assets/liabilities by liquidity
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9/24/09 Required items in the balance sheet Cash/cash equivalents Trade and other receivables Financial assets Investments under the equity method Investment property Inventories Intangible assets Biological assets PP7E Trade and other payables Financial liabilities
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9/24/09 Equity Section Requirements Number of shares authorized Number of shares issued and fully paid and 
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Unformatted text preview: issued but not fully paid Par value per share Reconciliation of the shares outstanding at the beginning and end of the period Description of rights, preferences and restrictions Shares held by the entity, subsidiaries or associates 9/24/09 Other Issues No offsetting of assets allowed unless specifically allowed in a standdard. US GAAP permits offsetting in some circumstances Revaluation of assets of cost OR fair value Minority interest to be presented in the equity sectionbegin 2009 9/24/09 Proposed Changes Assets and liabilities to be classified as operating, investing, or financing Short-term/long-term classification Short-term/long-term classifications rather than current/non-current Cash equivalents presented separately...
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This note was uploaded on 09/24/2009 for the course ACIS 3115 taught by Professor Cmeasterwood during the Fall '08 term at Virginia Tech.

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My lecture slides IFRS Unit 4 Balance Sheet - issued but...

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