Scribd Logo
Upload

Welcome to Scribd!

  • 177 views

    Asset Standard Initial Measurement Subsequent Measurement Included in Profit or Loss Financial POSITION Presentation

    Uploaded by

    Didhane Martinez
    This document outlines the initial and subsequent measurement requirements for various financial assets and liabilities under different IFRS standards. It shows that assets like cash, receivables, inventories, and property, plant and equipment are initially measured at cost, while some assets like biological assets and investment property can be initially measured at fair value. Subsequent measurement varies depending on the standard, but includes models based on cost, fair value, and amortized cost. The document also provides an example statement of financial position layout.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Asset Standard Initial Measurement Subsequent Measurement Included in Profit or Loss Financial POSITION Presentation

    Uploaded by

    Didhane Martinez
    177 views3 pages
    This document outlines the initial and subsequent measurement requirements for various financial assets and liabilities under different IFRS standards. It shows that assets like cash, receivables, inventories, and property, plant and equipment are initially measured at cost, while some assets like biological assets and investment property can be initially measured at fair value. Subsequent measurement varies depending on the standard, but includes models based on cost, fair value, and amortized cost. The document also provides an example statement of financial position layout.

    Original Title

    TABLE-SUMMARY.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document outlines the initial and subsequent measurement requirements for various financial assets and liabilities under different IFRS standards. It shows that assets like cash, receivables, inventories, and property, plant and equipment are initially measured at cost, while some assets like biological assets and investment property can be initially measured at fair value. Subsequent measurement varies depending on the standard, but includes models based on cost, fair value, and amortized cost. The document also provides an example statement of financial position layout.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    177 views3 pages

    Asset Standard Initial Measurement Subsequent Measurement Included in Profit or Loss Financial POSITION Presentation

    Uploaded by

    Didhane Martinez
    This document outlines the initial and subsequent measurement requirements for various financial assets and liabilities under different IFRS standards. It shows that assets like cash, receivables, inventories, and property, plant and equipment are initially measured at cost, while some assets like biological assets and investment property can be initially measured at fair value. Subsequent measurement varies depending on the standard, but includes models based on cost, fair value, and amortized cost. The document also provides an example statement of financial position layout.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    ASSET STANDARD INITIAL SUBSEQUENT Included in Financial POSITION

    MEASUREMENT MEASUREMENT PROFIT OR LOSS presentation


    Cash & Cash - Face Amount Face Amount ** Cash and Cash
    Equivalents Equivalent
    (current)
    Receivables - FV + transaction costs Recoverable historical ** Trade and Other
    cost or Net Realizable Receivables
    Value (current)

    Present Value Amortized cost


    Inventories IAS 2 Cost Lower of Cost or NRV ** Inventories
    (current)
    Biological Asset IAS 41 FV less Cost to Sell or FV less Cost to Sell Gains/Losses Biological Assets
    Cost (if no FV) (non-current)

    If FV cannot be
    measured: Cost less AD
    less AIL (IAS 2, 16, 36)
    Agriculture Produce IAS 41 FV less Cost to Sell Lower of Cost or NRV Gains/Losses Part of the line
    (at the point of (IAS 2- after point of item Biological
    harvest) harvest) Assets
    UNCONDITIONAL IAS 41 FV less Cost to Sell FV less Cost to Sell If it becomes receivable -
    Government Grant
    CONDITIONAL IAS 41 FV less Cost to Sell FV less Cost to Sell If conditions are met -
    Government Grant
    Using straight-line method
    But a portion of the
    grant is retained
    according to the time
    has elapsed
    PPE IAS 16 Cost Cost Model / w/ related expense from Property, Plant and
    Revaluation Model incidental operations, or Equipment
    (deferred: cash price compensation for impairment (non-current)
    equivalent) becomes receivable
    Mineral Resources IFRS 6 Cost Cost Model / excess Wasting Assets
    (exploration and Revaluation Model (non-current)
    evaluation)
    Government Grants IAS 20 *Hierarchy applies matching concept, or Deferred Income
    compensation for expenses or (Liability)
    losses become receivable
    Or deducting the
    grant in arriving
    the CA of asset
    Borrowing Costs IAS 23 Cost - ** Provided by other
    standards applied
    Investment Property IAS 40 Cost Cost Model / Fair Value IP @ FV with changes in FV Investment
    Model Property
    Decrease in CA (but to the (non-current)
    extent an amount is included in
    revaluation surplus, the
    decrease is recognized in OCI
    and reduces RS) / Increase in CA
    (to the extent of precious
    impairment loss)

    Difference between FV &


    previous CA of self-constructed
    property

    Compensation for impairment


    from third party becomes
    receivable
    Intangible Assets IAS 38 Cost Cost Model / Difference between net disposal Intangible Assets
    Revaluation Model proceeds & CA of IA (non-current)
    Investments IFRS 9 Amortized Cost or Fair Amortized cost or Fair Unrealized gain/loss under Investments
    Value (plus transaction Value FAFVPL (normally non-
    costs**) Gain on sale current)
    Investment in IAS 28 Cost Equity Method ** Investment in
    Associates Associates
    (non-current)

    (Name of the Company)


    Statement of Financial Position
    (Date)
    Current Assets:
    Cash and Cash Equivalents
    Trade and Other Receivables
    Inventories
    Investments-FAFVPL **
    Investments- FAFVOCI/FAAC (Current Portion)**
    Other Current Assets
    TOTAL CURRENT ASSETS

    Non-Current Assets:
    Property, Plant and Equipment
    Intangible Assets
    Wasting Assets
    Goodwill
    Investment Properties
    Biological Assets
    Investments
    Receivables (non-current portion)
    Other Non-Current Assets
    TOTAL NON-CURRENT ASSETS

    TOTAL ASSETS
    NOTES TO THE FINANCIAL STATEMENTS:
    Note 1. Cash and Cash Equivalents
    The breakdown of the ____ is as follows (with amount)

    The ___ is measured at ____ according to (standard)

    NOTE!!!

    1. NO shortcuts in Financial Statements


    2. Classify note number beside the line item in statement of financial position
    a. Cash and Cash Equivalent (Note 1)

    You might also like