Over 113 countries require or permit the use of International Financial Reporting Standards (IFRS) for publicly-traded companies. All listed companies in the European Union (EU) have to prepare consolidated company accounts that comply with IFRS. It also affects associates and subsidiaries of EU-list...
Alpha Gamma Amount in inventory at 31 March 2011 31 March 2010 $000 $000 3,600 2,100 2,700 Nil Note 5 – Equity investments At 1 April 2010 Alpha had two equity investments that it designated as fair value through other comprehensive income in accordance with IFRS 9 Financial Instruments....
(8 marks) Issue (c) I'm unclear about the practicalities of adopting IFRS in the year ending 30 September 2012. I've heard that we need to start with the opening IFRS statement of financial position. I'm unclear what this means and for what date it is prepared. Please explain the ...
5 Omega prepares financial statements under International Financial Reporting Standards (IFRS). In the two-year period ended 31 March 2010 the following events occurred: (a) On 1 October 2008 Omega began the construction of a new factory. Costs relating to the factory were as follows: Details ...
None of the intangible assets of Beta would have qualified for recognition under IFRS, either at 1 October 2009 or 30 September 2010. The financial statements of Beta that are given in this question are prepared 2 under local accounting standards. The carrying value of the intangible assets in...
11 [P.T.O. 5 Omega prepares financial statements under International Financial Reporting Standards (IFRS). In the year ended 30 September 2008 the following events occurred: Event (a) On 1 August 2008 Omega signed a contract to supply components to Theta on 31 January 2009. Omega does not ...
Over 113 countries require or permit the use of International Financial Reporting Standards (IFRS) for publicly-traded companies. All listed companies in the European Union (EU) have to prepare consolidated company accounts that comply with IFRS. It also affects associates and subsidiaries of EU-list...
Over 113 countries require or permit the use of International Financial Reporting Standards (IFRS) for publicly-traded companies. All listed companies in the European Union (EU) have to prepare consolidated company accounts that comply with IFRS. It also affects associates and subsidiaries of EU-list...
Note 3 Prior to the publication of IFRS 3 – Business combinations – goodwill on consolidation was amortised over its estimated useful economic life of 20 years. Alpha adopted IFRS 3 in its financial statements for the first time in the current year. Accordingly the goodwill on consolidation ...
Having spent 8 intensive days of studying, participants have received their program completion diplomas and are now preparing to take the exam. We wish them luck and all the best in future career endeavours! My IFRS knowledge has increased. This program is very useful for me. Teaching method b...