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...
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....
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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...
In previous periods Newsub has prepared financial statements under local accounting standards. Having become part of the Omega group the directors of Newsub have decided to prepare the individual financial statements of that company using IFRS for the year ended 30 September 2010. The directors of ...
(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 ...
Diploma in International Financial Reporting Thursday 10 June 2010 Time allowed Reading and planning: 15 minutes Writing: 3 hours This paper is divided into two sections: Section A – This ONE question is compulsory and MUST be attempted Section B – THREE questions ONLY to be attempted Do NOT...
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 ...
Alpha adopted IFRS 3 in its financial statements for the first time in the current year. Accordingly the goodwill on consolidation of Gamma was reviewed for impairment at 31 March 2005. Gamma was viewed as a single cash-generating unit that at 31 March 2005 had a value in use of $24 ...
I do not understand why the 2006 financial statements, prepared in accordance with IFRSs, include a charge in the income statement income of $360,000 relating to these share options. This represents a charge of $1·80 per share but since our company hasn't paid anything why should there ...