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1 Ifrs
1 Ifrs
1 Ifrs
2. All International Accounting Standards (IASs) and Interpretations issued by the former
IASC (International Accounting Standard Committee) and SIC (Standard Interpretation
Committee) continue to be unless and until they are amended or withdrawn.
unless
3. IFRSs á the general purpose financial statements and other financial reporting by
á
á
áá -- those engaged in commercial, industrial, financial, and similar
á
activities, regardless of their legal form.
11. IFRS will
á
á
á and other guidance in
non--bold type (the 'black
non 'black--letter'/'grey-
letter'/'grey-letter' distinction). Paragraphs of both types
have equal authority.
§ Share
Share--based Payment
§
Financial Instruments: Disclosures
o Ú
o This Framework sets out the concepts that underlie the preparation and presentation
of financial statements for external users.
o The
deals
deals with:
± The !
that determine the usefulness of information in
financial statement;
o The "
"directly
directly related to the measurement of financial position are
assets, liabilities and equity.
o An item that meets the definition of an element should be recognized if:
± it is probable that any future economic benefit associated the item will flow to or
from the entity.
± the item has a cost or value that can be measured with reliability.
o The concept of
"
is concerned with how an entity defines the
capital that it seeks to maintain. It provides the linkage between the concepts of capital
and the concepts of profit because it provides the point of reference by which profit is
measured.
§ '()§ § §
§
± it is á
á
áá for users and over all the periods presented.
?# &
An entity shall prepare and present an
%á á
á
á
at the á á
á
á %.
%. This is the starting point for its accounting under
IFRSs.
In general, the IFRS requires an entity to á % effective at the end
of its first IFRS reporting period. In particular, the IFRS requires an entity to do the
following in the opening IFRS statement of financial position that it prepares as a
starting point for its accounting under IFRSs:
not to recognize items as assets or liabilities if IFRSs do not permit such recognition;
§ '(
reclassify items that it recognized under previous GAAP as one type of asset,
liability or component of equity, but are different type of asset, liability or
component of equity under IFRSs.
The IFRS also áá á á
of IFRSs in some areas;
particularly where retrospective application would require judgments by
management about past conditions after the outcome of a particular
transaction is already known.
o The objective of this IFRS is to the financial reporting by an entity
when it undertakes a share-
share-based payment transaction.
In particular, it requires an entity to áin its profit or loss and financial
áin
position the effects of share-
share-based payment transactions, including expenses
associated with transactions in which á
are granted to employees.
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§ '*
For equity-
equity-settled share-
share-based payment transactions, the IFRS requires an entity to
the goods or services received,
á
)á directly,
directly, at the fair
value of the goods or services received, unless that fair value cannot be estimated reliably.
If the entity
áá á the fair value of the goods or services received, the
entity is required to á
á ,, and the
)á,
)á,
á,, by reference to the fair value of the equity instruments granted. Furthermore:
á
(a) for á
á
á and á providing similar services, the entity is
required to á á)á
á
á
á because it is
typically not possible to estimate reliably the fair value of employee services received.
The fair value of the equity instruments granted is measured á
á á
(b) for transactions with á áá
(and those providing similar
services), there is a rebut table presumption that the fair value of the goods or services
received can be estimated reliably. That fair value is measured at the áá
áá
á
the goods or the counterparty renders service. In rare cases, if the presumption is
rebutted, the transaction is measured by reference to the fair value of the equity
instruments granted, measured at the date the entity obtains the goods or
the counterparty renders service.
§ '*
(e) the IFRS also sets out requirements if the terms and conditions of an á
á (e.g. an option is reprised) or if a grant is
cancelled, repurchased or replaced with another grant of equity instruments.
For example, irrespective of any modification, cancellation or settlement of a
grant of equity instruments to employees, the IFRS generally requires the
(, as a minimum, the services received measured at the
ááá
(,
grant date fair value of the equity instruments granted.
For cash-
cash-settled share
share--based payment transactions, the IFRS requires an entity to
measure the goods or services acquired and the liability incurred at the fair value
of the liability. Until the liability is settled, the entity is required to
á á á á á
á and at the date of settlement,
with any changes in value recognized in profit or loss for the period.
§ '*
For share-
share-based payment transactions in which the terms of the arrangement
provide either the entity or the supplier of goods or services with a choice of
whether the entity settles the transaction in cash or by issuing equity instruments,
the entity is required to account for that transaction, or the components of that
transaction, as a cash-
cash-settled share-
share-based payment transaction if, and to the extent
that, the entity has incurred a liability to settle in cash (or other assets), or as an
equity--settled share-
equity share-based payment transaction if, and to the extent that, no such
liability has been incurred.
v how the of the goods or services received, or the fair value of the
equity instruments granted, during the period was determined; and
v áá of share-
share-based payment transactions on the entity¶s profit or loss for
the period and on its financial position.
§ '-),. § ,§ §
± (a) recognizes and measures in its financial statements the identifiable á
) á á and any non-
non-controlling interest in the
acquire;
± (b) recognizes and measures the acquired in the business combination
or a gain from a bargain purchase; and
M
|
á á
á
o Each
á á
á áá )á
á
.. Any non-
non-controlling interest in an acquiree is measured at fair value
or as the non-
non-controlling interest¶s proportionate share of the acquiree¶s
net identifiable assets.
§ '-
(e)
á
á are recognised and measured on a basis that is
consistent with the item that is subject to the indemnification, even if that
measure is not fair value.
The IFRS requires the acquirer, having recognised the identifiable assets, the
liabilities and any non-
non-controlling interests, á
á
between:
In general, an acquirer measures and accounts for assets acquired and liabilities
assumed or incurred in a business combination after the business combination has
been completed in accordance with other applicable IFRSs. However, the IFRS
provides accounting requirements for reacquired rights, contingent liabilities,
contingent consideration and indemnification assets.
o The IFRS requires the acquirer to disclose information that enables users of its
financial statements to evaluate the
á
á
á
that occurred during the current reporting period or after the
reporting date but before the financial statements are authorised for issue.
o After a business combination, the acquirer must
-á
á
in the current reporting period that
in relate to business
combinations that occurred in the current or previous reporting
periods.
§ '/)§ .
that
that identifies and explains the
á in an insurer¶s
financial statements arising from insurance contracts and helps
users of those financial statements
á
á
á á
from
á
á á from
insurance contracts.
§ '/
?# &
c. requires an insurer to
á in its statement of
financial position until they are discharged or cancelled, or expire, and
to present insurance liabilities without offsetting them against related
reinsurance assets.
§ '/
v the
áin
áin the insurer¶s financial statements that from insurance
contracts.
v the amount, timing and uncertainty of á from insurance contracts
§ '0) '. +
§ § . §
o The objective of this IFRS is to á
á
for assets held for
sale, and the
á á
of discontinued operations. In
particular, the IFRS requires:
a. assets that meet the á á as held for sale to be
measured at the of carrying amount and fair value less costs to
sell, and depreciation on such assets to cease; and
o The IFRS:
o present condition subject only to terms that are usual and customary for
sales of such assets (or disposal groups)
á á
á á
o The objective of this IFRS is to specify the
á
for the exploration for and
evaluation of mineral resources.
?# &
o Exploration for and evaluation of mineral resources is the search for mineral resources,
including minerals, oil, natural gas and similar non-
non-regenerative resources
,
, to explore in a specific area, as well as the determination of the technical
feasibility and commercial viability of extracting the mineral resource.
o An entity shall
"
,
for allocating exploration
and evaluation assets %,
,
or , of cash-
cash-generating
units for the purpose of
,
"
".
"
". Each cash-
cash-
generating unit or group of units to which an exploration and evaluation
asset is allocated ,
,,"
"
á
á'
á on further exploration for and evaluation of mineral resources
in the specific area is
áá
.
.
c. exploration for and evaluation of mineral resources in the specific area have not led to
the discovery of )
áá of mineral resources and the entity has
decided to discontinue such activities in the specific area.
á á 'á to indicate that, although a development in the specific area is likely
to proceed, á
á of the exploration and evaluation asset is
á
in full from successful development or by sale.
a) the
á
á for the entity¶s financial position and
performance; and
o M
'An entity shall disclose information to
M
'
enable users of its financial statements to evaluate the
in which it
engages and the economic environments in which it operates.
§ '5
?# &
± á á=
á
=á
áá
á
á á
á á
á
á
á
á
market; and
± that files, or is in the process of filing, the consolidated financial statements with a
securities commission or other regulatory organisation for the purpose of issuing any
class of instruments in a public market.
§ '5
o The IFRS requires an entity to á á
á
á á. It also requires an entity to report a
á
á á.
measure of
á á and particular income and expense items if
such measures are regularly provided to the chief operating decision maker.