IAS 20 ACCOUNTING FOR GOVERNMENT GRANTS AND DISCLOSURE OF GOVERNMENT ASSISTANCE
Objective of IAS 20 The objective of IAS 20 is to prescribe the accounting for, and disclosure of, government grants and other forms of government assistance.
Category «General»
IAS 19 EMPLOYEE BENEFITS
Objective of IAS 19 The objective of IAS 19 is to prescribe the accounting and disclosure for employee benefits (that is, all forms of consideration given by an entity in exchange for service rendered by employees). The principle underlying all of the detailed requirements of the Standard is that the cost of providing employee benefits …
IAS 18 REVENUE
Objective of IAS 18 The objective of IAS 18 is to prescribe the accounting treatment for revenue arising from certain types of transactions and events. Key Definition Revenue: the gross inflow of economic benefits (cash, receivables, other assets) arising from the ordinary operating activities of an entity (such as sales of goods, sales of services, …
IAS 17 LEASES
Objective of IAS 17 The objective of IAS 17 (1997) is to prescribe, for lessees and lessors, the appropriate accounting policies and disclosures to apply in relation to finance and operating leases. Scope IAS 17 applies to all leases other than lease agreements for minerals, oil, natural gas, and similar regenerative resources and licensing agreements …
IAS 12 INCOME TAXES
Objective of IAS 12 The objective of IAS 12 (1996) is to prescribe the accounting treatment for income taxes. Key Definitions Temporary difference: a difference between the carrying amount of an asset or liability and its tax base.
IAS 11 CONSTRUCTION CONTRACTS
Objective of IAS 11 The objective of IAS 11 is to prescribe the accounting treatment of revenue and costs associated with construction contracts. What Is a Construction Contract? A construction contract is a contract specifically negotiated for the construction of an asset or a group of interrelated assets. [IAS 11.3]
IAS 10 EVENTS AFTER THE REPORTING PERIOD
Key Definitions Event after the reporting period: An event, which could be favourable or unfavourable, that occurs between the end of the reporting period and the date that the financial statements are authorised for issue. [IAS 10.3]
IAS 8 ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES AND ERRORS
Key Definitions Accounting policies are the specific principles, bases, conventions, rules and practices applied by an entity in preparing and presenting financial statements. A change in accounting estimate is an adjustment of the carrying amount of an asset or liability, or related expense, resulting from reassessing the expected future benefits and obligations associated with that …
IAS 7 STATEMENT OF CASH FLOWS
Objective of IAS 7 The objective of IAS 7 is to require the presentation of information about the historical changes in cash and cash equivalents of an entity by means of a statement of cash flows, which classifies cash flows during the period according to operating, investing, and financing activities. Fundamental Principle in IAS 7 …
Login Instructions SAP R/3
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