BÀI GIẢNG kế TOÁN QUỐC tế chapter 13 provisions and contingencies

... settle that present obligation •Restructuring A programme planned and controlled by management Materially changes scope of business and/ or the way the business is conducted IAS 37 IAS 37 • Note Restructuring ... amount cannot be measured IAS 37 Contingent Asset A possible asset that arises from past events and whose existence will be confirmed by the occurrence of one or more uncertain future events not...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 11 accruals and prepayments

... relate Accruals and prepayments Remember Remember that that the the financial financial statements statements are are prepared prepared on on an an accruals accruals basis basis and and that that accruals ... prepared prepared on on an an accruals accruals basis basis and and that that accruals accruals and and prepayments prepayments are are likely likely to to feature feature in in an an accounts accounts ... Learning Objectives Accruals Prepayments Accruals • Expenses charged against the profits of a period even though they have not...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 1 introduction to accounting

... Part A Chapter 1: Introduction to accounting Chapter 2: The regulatory framework Chapter INTRODUCTION TO ACCOUNTING Learning Objectives The purpose of financial ... entity owes this cash to the owner (capital) Something valuable which an entity owns or has use of • A factory or warehouse • Inventories for resale • Cash Liability Something owed to somebody else ... employees • Partnerships – two or more people working together to earn profits • Limited liability company – owners have liability limited to the amount they pay for their shares – a limited liability...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 2 the regulatory framework

... Objectives The regulatory system IASB The regulatory system International influences EU IFAC UN OECD • The international influence on European accounting is very important All listed companies in the ... choice of accounting treatments – the ‘benchmark’ treatment and the ‘allowed alternative’ Most of these standards have now been revised to remove this choice There is now much more standardisation ... statements must give a ‘true and fair view’ or ‘present fairly’ the entity’s financial position IASB Standard setting process The procedure can be summarised as follows ...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 3 accounting conventions

... Part B Chapter 3: Accounting conventions Chapter ACCOUNTING CONVENTIONS Learning Objectives Background IAS The IASB’s Framework Criticisms Bases of valuation IAS Background • Accounting policies ... IAS Accounting policies, changes in accounting estimates and errors You should know the definitions of the following: •Prospective application •Retrospective application •Prior period errors Accounting ... IASB’s Framework Good accounting information has the following qualities: •Relevance •Understandability •Reliability •Comparability •Objectivity •Timeliness •Completeness 13 The IASB’s Framework...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 4 sources,records and books of prime entry

... C Chapter 4: Sources, records and books of prime entry Chapter 5: Ledger accounts and double entry Chapter 6: From trial balance to financial statements Chapter SOURCES, RECORDS AND BOOKS OF PRIME ... note •Goods received note The role of source documents Books of prime entry The source documents are recorded in books of prime entry The role of source documents Journal: Journals are used to record ... other books of prime entry They record the following: •Period end adjustments •Correction of errors •Large / unusual transactions Sales and purchase day books Sales and purchase returns day books...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 5 ledger accounts and double entry

... Objectives The nominal ledger The accounting equation Double entry bookkeeping The journal and imprest system Day book analysis The receivables and payables ledgers The nominal ledger Ledger accounting: ... assets and liabilities is preserved • In a system of double entry bookkeeping every accounting event must be entered in ledger accounts both as a debit and as an equal but opposite credit Double entry ... receivables and payables ledgers • To keep track of individual customer and supplier balances it is common to maintain subsidiary ledgers called the receivables ledger and the payables ledger Each...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 6 from the trial balance to financial statements

... balance Trial balance • The balances are then collected in a trial balance If the double entry is correct, total debits = total credits The trial balance Errors A trial balance does not guarantee ... Learning Objectives The trial balance The income statement Statement of financial position Preparing financial statements The trial balance At the end of an accounting period a balance is struck ... together with the rent account to illustrate how balances are transferred to it at the end of the year The income statement • This could be re-arranged as follows to arrive at the financial statement...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 7 sales tax

... allowances Chapter 13: Provisions and contingencies Chapter SALES TAX Learning Objectives The nature of a sales tax and how it is collected Accounting for a sales tax The nature of a sales tax and ... Part D Chapter 7: Sales tax Chapter 8: Inventory Chapter 9: Tangible non-current assets Chapter 10: Intangible non-current assets Chapter 11: Accruals and prepayments Chapter 12: Irrecoverable ... sales tax separately iii Exclude recoverable sales tax from income statement iv Include irrecoverable sales tax in income statement v Debit sales tax payable with recoverable input sales tax element...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 8 inventory

... of conversion Inventory can include raw materials, work in progress, finished goods, goods purchased for resale •FIFO and average cost are allowed •LIFO is not allowed Note: Inventory excludes ... warehouse and actually counting the boxes on the shelves • Some businesses keep detailed records of inventory coming in and going out, so as not to have to count everything on the last day of the ... This is the problem of valuation Valuing inventories Prices The price used to value an item of inventory might be any of a number of possibilities, e.g selling price, replacement cost However,...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 9 tangible non current assets

... acquisition of non- current assets, or an increase in their earning capacity Revenue expenditure is incurred for the purpose of trade or to maintain the existing earning capacity of the non- current assets ... a measure of the wearing out or depletion of a non- current asset through use, time or obsolescence • It is a means of allocating the cost of a noncurrent asset over its expected useful life, so ... and is intended to provide a fairer view of the value of the business assets • A revaluation is recorded as follows Non- current asset disposals Disposal • On disposal of an asset a profit or...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 10 intangible non current assets

... Learning Objectives Intangible non- current assets Deferred development costs Intangible non- current assets • Non- current assets which have a value to the entity but no ... Examples: – Goodwill (see Chapter 19 on partnerships) – Leases – Patents and trade names – Research and development costs Deferred development costs IAS 38 Intangible assets • Pure or basic research ... costs written off as incurred Deferred development costs Five criteria stated under IAS 38 Intangible assets •Technical feasibility of completing the asset •Intention to complete the asset •Ability...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 12 irrecoverable debts and allowances

... Learning Objectives Irrecoverable debts and receivables allowances Accounting for irrecoverable debts and receivables allowances Irrecoverable debts and receivables allowances • A receivable ... Accounting for irrecoverable debts and receivables allowances If a reduction in the receivables allowance is required, then: Accounting for irrecoverable debts and receivables allowances Subsequent ... recoverable Irrecoverable debts Receivables allowances If definitely irrecoverable, the prudence concept (IAS 1) dictates that it should be written off to the income statement as an irrecoverable...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 14 control accounts

... Part E Chapter 14: Control accounts Chapter 15: Bank reconciliations Chapter 16: Correction of errors Chapter 17: Preparation of financial statements for sole traders Chapter 14 CONTROL ACCOUNTS ... ACCOUNTS Learning Objectives What are control accounts? Discounts The operation of control accounts The purpose of control accounts What are control accounts? A control account is a total account ... purpose of control accounts Reasons for maintaining control accounts It is worth bearing in mind the main reasons for maintaining both individual accounts and a control account • The individual accounts...

BÀI GIẢNG kế TOÁN QUỐC tế chapter 15 bank reconciliations

... Learning Objectives Bank statement and cash book Bank reconciliation Bank statement and cash book Bank reconciliation A comparison of a bank statement with the cash book The bank reconciliation ... cash book (e.g bank charges) • Timing differences: e.g cheques issued and entered in the cash book but not yet presented at the bank Bank reconciliation Proforma bank reconciliation Bank reconciliation ... The bank reconciliation will invariably show a difference Bank statement and cash book Differences on bank reconciliation • Errors: more likely in the cash book • Omissions: items on the bank...

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