The Elements of Financial Statements The qualitative characteristics are applicable to all information contained in the financial statements. The following elements of the financial statements will be considered separately: Assets Liabilities Equity Income Expenses.
IFRS 5 Non-current Assets Held for Sale IFRS 5 Non-current Assets Held for Sale and Discontinued Operations says that a discontinued operation is a component of an entity that has been sold, or which is classified as held for sale, and which is: a separate line of business (either in terms of operations or location) part of
Components of Financial Statements According to IAS 1 Presentation of Financial Statements, a complete set of financial statements has the following components: Other reports and statements in the annual report (such as a financial review, an environmental report or a social report) are outside the scope of IAS 1.
Code of Ethics: (a) Integrity – to be straightforward and honest in all professional and business relationships. (b) Objectivity – to not allow bias, conflict of interest or undue influence of others to override professional or business judgments. (c) Professional Competence and Due Care – to maintain professional knowledge and skill at the level
Financial Statements Assertions Financial statements assertions are the representations by management, explicit or otherwise, that are embodied in the financial statements, as used by the auditor to consider the different types of potential misstatements that may occur. Auditors use the financial statements assertions to assess the risk of material misstatements and designing and performing audit procedures to form
Audit Definition “The main objective of an audit is to examine the financial statements of an entity to make sure that information provided in the financial statements represents the true and fair view of the entity performance”. Audit Definition helps to understand the objective of the audit function in a company for the stakeholders. Because
ACCA 200000 Members Worldwide ACCA recently reached a real milestone – it’s 200,000th member. ACCA 200000 Members Worldwide mild stone achieved and To celebrate ACCA has created a transportable wall of member names, featuring every one of ACCA’s 200,000 members. It has also created a digital; the replica of the wall for members to find
ACCA December 2017 Exam Feedback by Students What did sitters think of the December sitting? Here’s our feedback for the first 4 days… ACCA December 2017 Exam – Day One ACCA candidates sitting the December P7 exam described it as ‘horrible’, ‘vexing’, and ‘brutal’. You can then throw in some time pressure to create a very
ACCA Mock Exams For December 2017, and solve them before appearing for the final exam. ACCA Mock Exams For December 2017 should be solved before going for the final attempt and after the complete preparation.
LSBF ACCA Exam Tips for December 2017 ACCA F5 Performance Management Sections A and B: Costing methods (ABC, throughput & lifecycle) and decision making (Relevant costing, linear programming, and uncertainty), Budgeting and performance evaluation Section C: Non – Financial Measures (Building Blocks & Balanced scorecard) and advanced variances. LSBF ACCA Exam Tips for December 2017
IFRS 2 Share Based Payments Introduction IFRS 2 Share Based Payments has become increasingly common. Share-based payment occurs when an entity buys goods or services from other parties (such as employees or suppliers) and: settles the amounts payable by issuing shares or share options, or incurs liabilities for cash payments based on its share price.
ACCA F5 Examiner Reports till June 2017 Hi everybody in this post I would like to share something with you regarding you ACCA F5 paper. During the exam days, everybody is trying to focus on the Book and kit. They missed one important thing, which they should study. If you are attempting this ACCA F5
ACCA Exam Tips By LSBF September 2017 ACCA F5 * Sections A and B: Costing methods (ABC, throughput & life cycle) and decision making (relevant costing, linear programming, and uncertainty). ACCA Exam Tips By LSBF September 2017. * Section C: Transfer pricing, budgeting, and advanced variances. ACCA F6 * Income tax: Looking at a sole trader