{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Session 5 - Class Notes - Regulation of Accounting Standards II0

Session 5 - Class Notes - Regulation of Accounting Standards II0

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Session 5 Session 5 : Regulation of Accounting  : Regulation of Accounting  Standards-International Convergence Standards-International Convergence Hye Sun Chang ACCY 303  
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Outline Outline • Discuss the Land Securities case. • Describe IASB/IFRS and international  convergence
Background image of page 2
Background Background • What type of firm is Land Securities  Group? • What is the problem the firm is facing? • IAS 40 – First time fair value model incorporated for  long-lived non-financial assets. 
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Summary of Accounting Models Summary of Accounting Models Cost Model - B/S balance: at cost less  accumulated depreciation  & impairment loss - Fair value must be  disclosed in the footnotes Revaluation Model - B/S balance: at fair value  - Revaluation reserve   (Impairment loss) Fair Value Model  - B/S balance: at fair value 
Background image of page 4
Example-Three Models Example-Three Models
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}