Reference no: EM133103160
Question - Create a tabular summary enumerating the major provisions of accounting standards for current liabilities, non-current liabilities and shareholders' equity- capital transactions and shareholders' equity -other equity transactions, including initial recognition, subsequent measurement, impairment and derecognition provisions. You may use the questions below as guide questions.
Example for Current Liabilities.
1. What specific standard/s (PAS/PFRs) govern/s current liabilities?
2. In recognizing current liabilities, what are the items included (Consider the items under Current Financial Liabilities eg. Accounts Payable, Notes Payable etc.?
3. In recognizing current liabilities, what are the items excluded (Consider the items under Current Financial Liabilities eg. Accounts Payable, Notes Payable etc.??
4. How are liabilities initially recognized (Consider the items under Current Financial Liabilities eg. Accounts Payable, Notes Payable etc.?
5. How are liabilities subsequently measured (Consider the items under Current Financial Liabilities eg. Accounts Payable, Notes Payable etc.?
6. Discuss the impairment of current liabilities.
7. How are current liabilities derecognized?
8. What are the special considerations?
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