Financial Reporting IFRS Standards and IAS Standards

Financial Reporting IFRS and IAS Accounting Standards

IFRS 3

Business Combinations

GOODWILL CALCULATIONS - Gain on bargain purchase

Adjustments for acquisition costs and contingent consideration

IFRS 10

Consolidated Financial Statements

Definition of control and rules for consolidation

Determining Parent and subsidiary relationships

NCI Non Controlling Interest measurement or proportionate share

IFRS 13

Fair Value Measurement

Valuation of assets and liabilities at fair value for consolidation purposes

IFRS 5

Non Current Assets Held for Sale

Classification and Reporting in financial statements

IFRS 9

Financial Instruments

Classification recognition and measurement of financial instruments

Expected Credit Loss Model for impairment

IFRS 15

Revenue from contracts with customers

Revenue recognition principles

Five Step Model

IFRS 16

Leases

Right of use Assets and Lease Liabilities

IAS 16

Property Plant Equipment

Revaluation Adjustments

Depreciation and carrying amounts at consolidation date

IAS 21

The Effects of changes in Foreign Exchange Rates

Translation of foreign subsidiary financials

Determination of functional and presentation currencies

IAS 27

Separate Financial Statements

Equity Accounting vs Line line consolidation

IAS 28

Investments in Associates & Joint Ventures

Equity Method calculations for investments with significant influence

IAS 36

Impairment of assets

Adjustments for impairment in goodwill & other assets

IAS 37

Provisions contingent liabilities & contingent assets

Adjustments for contingencies and provisions in the consolidated statement

IAS 38

Intangible Assets

Valuation and amortisation in consolidated statements

IAS 1

Presentation of Financial Statements

Proper format and disclosure requirements

IAS 8

Accounting Policies Changes in Accounting Estimates & Errors

Retrospective vs prospective adjustments

IAS 12

Income Taxes

Deferred tax asset liability calculations

IAS 23

Borrowing Costs

Capitalisation vs expensing of borrowing costs