Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
IAS 1 rules
IAS 1 requires companies to observe the following rules in preparing published financial statements:
1) The financial statements should reflect a true and fair view of the company ‘s financial position and performance. Where transactions are reported faithfully and the financial statements comply in all aspects with IFRSs then the true and fair view objective is achieved.
2) The company should apply its accounting policies consistently form one financial period to the next and incase there is a change in the accounting policy then, adequate disclosure should be made.
3) The Financial statement should be prepared on a going concern basis incase the going concern basis isn’t suitable; adequate disclosure should be made.
4) The financial statements should be made on an annual basis (should related to a period of 12 months) and incase the period covered is more or less than 12months then, this fact should be disclosed.
5) The financial statement should be presented on a comparable basis i.e. the current years’ and previous years’ financial results unless it is the first year of trading.
6) Financial statements should disclose the date when they were approved for issue by the directors.
Concept of financial Accounting Accounting is the art of recording, classifying and summarizing the business transactions and events. Double Entry System is the base for reco
AMALGAMATIONS Two sole traders and a partnership,two or more partnerships or a sole trader and other partnerships may combine or join together to forma a single partnership. The
Evaluate 1-1/3(5/6 - 1/2) ---------------- 2/5 / 2/5(5/6-2/3)
Hart Corporation''s sailri
Preference share capital in subsidiary (irredeemable) Investment in preference shares does not lead to ownership and therefore, if the holding company owns part of the preference
Show the rectification entries for the following: (10 marks) a. The Sales account is undercast by Rs.15,000 b. Goods returned by
BREACH OF TRUST Remedies available to beneficiary: Injunction, Personal action, Criminal liability. Defence of trusts: He may be relieved from liability if, in the opini
Q. Estimate cost of equity using market values? The cost of equity as well as cost of debt should always be estimated using market values. If the approximate cash flows of a
accountability through conceptual framework in australia eassy on this topic with research
The City of Miami must replace a number of its concrete mixer trucks with new trucks. It has received two bids and has evaluated closely the performance characteristics of the seve
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd