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Preparation of Financial Statetement
Preparation of Financial Statetement
ACCOUNTING CYCLE
1. Analyzing
2. Journalize
3. Posting
4. Unadjusted Trial Balance
5. Adjusting
6. Adjusted Trial Balance
Start the preparation of FS
SC APIC RE
Beg. bal xx xx xx
Investment xx xx
NI/NL xx/(xx)
Dividends (xx)
End, bal. xx xx xx
GRADING SYSTEM:
40 Long quizzes
30 Special Activities
20 Short Quizzes
10 Recitation and others
100
Final compilation:
Written- 50
Projects- 50
Iasplus.com
IAS – PRESENTATION OF FS
PURRPOSE COMPLETE SET ELEMENTS GENERAL FEATURES of FS
Fair presentation & compliance
General purpose 1. SCI Assets
with PFRSs
financial statement
2. SCE Liabilities Going Concern
3. SFP Equity Accrual Basis of Accounting
4. SCF Income Materiality and Aggregation
Specific purpose
5. NTFS Expense Offsetting
financial statement
Contribution/Distribution
Frequency of Reporting
to Owners
Cash Flows Comparative Information
Consistency of Presentation