Revenue and Contract Obligations (IAS and IFRS) Professional Exams PDF Download
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Author: Ibrahim Amoo Ganiyu
Publisher: CreateSpace
ISBN: 9781500806989
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Revenue is one of the most important item, if not the most important, in the financial statements of an entity, any mistake or incorrect treatment and recognition of revenue in the financial statements may misled the economic users of the financial statements The correct treatment of revenue is simple but yet confusing in the mind of students (by my teaching experience), especially revenue recognition in construction contracts and the presence of other sales transactions, arrangements and agreements that look like legal sales transactions but in substance they are just a window dressing attempt by entities to make the financial statement look good, hence there is always a need for a comprehensive guide on the correct treatment and recognition of revenue from sales of goods, delivering services, other sales arrangement and revenue from contract obligations, especially in our ever changing and continuous development era This book gives you a clear and concise explanation of revenue from sales of goods, delivering of services, other sales arrangement and agreement such as sales and return arrangement, sales and repurchase agreement, agency sales, joint venture and treatment of advance payment by customers, treatment of accounting error of principle of treating sales proceed on asset as sales of goods and trade by barter, using international accounting standard 18 (IAS 18). The book also discussed the revenue recognition from contract obligations based on the guidelines of International Accounting Standard 11 (IAS 11) ACCA professional questions were used throughout the book as illustrative example with step-by-step model solution provided by the author The book is suitable for those preparing for the examination of AAT, ACCA, CIMA, University and college students studying accounting and related courses.
Author: Ibrahim Amoo Ganiyu
Publisher: CreateSpace
ISBN: 9781500806989
Category : Business & Economics
Languages : en
Pages : 84
Get Book Here
Book Description
Revenue is one of the most important item, if not the most important, in the financial statements of an entity, any mistake or incorrect treatment and recognition of revenue in the financial statements may misled the economic users of the financial statements The correct treatment of revenue is simple but yet confusing in the mind of students (by my teaching experience), especially revenue recognition in construction contracts and the presence of other sales transactions, arrangements and agreements that look like legal sales transactions but in substance they are just a window dressing attempt by entities to make the financial statement look good, hence there is always a need for a comprehensive guide on the correct treatment and recognition of revenue from sales of goods, delivering services, other sales arrangement and revenue from contract obligations, especially in our ever changing and continuous development era This book gives you a clear and concise explanation of revenue from sales of goods, delivering of services, other sales arrangement and agreement such as sales and return arrangement, sales and repurchase agreement, agency sales, joint venture and treatment of advance payment by customers, treatment of accounting error of principle of treating sales proceed on asset as sales of goods and trade by barter, using international accounting standard 18 (IAS 18). The book also discussed the revenue recognition from contract obligations based on the guidelines of International Accounting Standard 11 (IAS 11) ACCA professional questions were used throughout the book as illustrative example with step-by-step model solution provided by the author The book is suitable for those preparing for the examination of AAT, ACCA, CIMA, University and college students studying accounting and related courses.
Author: Abbas A. Mirza
Publisher: John Wiley & Sons
ISBN: 1118017641
Category : Business & Economics
Languages : en
Pages : 615
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Book Description
A one-stop resource for understanding and applying current International Financial Reporting Standards As the International Accounting Standards Board (IASB) makes rapid progress towards widespread acceptance and use of IFRS® (formerly named International Accounting Standards) worldwide, the need to understand these new standards increases. Now fully revised and updated, IFRS® Practical Implementation Guide and Workbook, Third Edition is the straightforward handbook for understanding and adapting the IFRS® standards. This quick reference guide includes easy-to-understand IAS/IFRS®outlines, explanations, and practical insights that greatly facilitate understanding of the practical implementation issues involved in applying these complex standards. Clearly explaining the IASB standards so that even first-time adopters of IFRS® will understand the complicated requirements, the Third Edition presents: Ten recently issued and revised IFRS® standards including business combinations, financial instruments and newly issued IFRS® for SMEs New International Financial Reporting Interpretations Committee (IFRIC) projects Multiple-choice questions with solutions and explanations to ensure thorough understanding of the complex IFRS®/IAS standards Case studies or "problems" with solutions illustrating the practical application of IFRS®/IAS Excerpts from published financial statements around the world Designed with the needs of the user in mind, IFRS® Practical Implementation Guide and Workbook, Third Edition is an essential desktop reference for accountants and finance professionals, as well as a thorough review guide for the IFRS®/IAS certification exam.
Author: Becker Professional Education
Publisher: Becker Professional Education Ltd
ISBN: 1785665081
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
ACCA Approved and valid for exams from 01 Sept 2017 up to 30 June 2018 - Becker's P2 Corporate Reporting (INT) Revision Question Bank has been approved and quality assured by the ACCA's examining team.
Author: Becker Professional Education
Publisher: Becker Professional Education Ltd
ISBN: 1785664522
Category : Business & Economics
Languages : en
Pages : 724
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Book Description
ACCA Approved and valid for exams from 01 Sept 2017 up to 30 June 2018 - Becker's P2 Corporate Reporting (INT) Study Text has been approved and quality assured by the ACCA's examining team.
Author: Becker Professional Education
Publisher: Becker Professional Education Ltd
ISBN: 178566509X
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
Derived from content approved and quality assured by ACCA's examining team and valid for exams from 01 Sept 2017 up to 30 June 2018 - Becker's P2 Corporate Reporting (INT) Revision Essentials Handbook is an A5 size Handbook designed as a 'quick-glance' revision tool.
Author: International Accounting Standards Board
Publisher:
ISBN:
Category : Contracts
Languages : en
Pages : 130
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Book Description
And invitation to comment -- Revenue recognition based on changes in assets and liabilities -- A contract-based revenue recognition principle -- Performance obligations -- Satisfaction of performance obligations -- Measurement of performance obligations -- Potential effects on present practice.
Author: Becker Professional Education
Publisher: Becker Professional Education Ltd
ISBN: 1785664972
Category : Business & Economics
Languages : en
Pages : 96
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Book Description
Derived from content approved and quality assured by ACCA's examining team and valid for exams from 01 Sept 2017 up to 30 June 2018 - Becker's F7 Financial Reporting Revision Essentials Handbook is an A5 size Handbook designed as a 'quick-glance' revision tool.
Author: Ruth Picker
Publisher: John Wiley & Sons
ISBN: 1119159229
Category : Business & Economics
Languages : en
Pages : 754
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Book Description
Understanding the main concepts of IFRS Standards The fourth edition of Applying IFRS Standards explains the core principles of International Financial Reporting (IFRS) Standards. It also addresses the skills needed to apply the standards in business environments. The book begins with an overview of the International Accounting Standards Board (IASB) and how it establishes accounting standards. The general book topics are then covered in detail and include: income taxes, financial instruments, fair value measurement, property, inventories, employee benefits and more. Discussion questions, exercises and references are provided throughout the book.
Author: Becker Professional Education
Publisher: Becker Professional Education Ltd
ISBN: 1785665308
Category : Business & Economics
Languages : en
Pages : 732
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Book Description
ACCA Approved and valid for exams from 01 December 2017 up to 30 June 2018 - Becker's DipIFR Study Text has been approved and quality assured by the ACCA's examining team.
Author: Steven Collings
Publisher: John Wiley & Sons
ISBN: 1119960673
Category : Business & Economics
Languages : en
Pages : 229
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Book Description
A concise FAQ guide to IFRS principles and practices Co-written by Steven Collings, winner of Accounting Technician of the Year at the British Accountancy Awards 2011, this book is a comprehensive guide to International Financial Reporting Standards (IFRS) which became mandatory in the EU in 2005, and they will almost certainly be adopted by most other developed countries in the near future. Unlike US-GAAP and other sets of standards, the IFRS are principles-based rather than rules-based, putting the onus of interpretation more on users than has previously been the case. Under IFRS users must understand the economic substance of operations, and they must be able to make assumptions, hypotheses, and estimations leading to an accounting treatment consistent with the general objectives of and principles behind IFRS financial reporting. In a handy, easy-to-navigate Q&A format, Frequently Asked Questions on IFRS provides accounting and finance professionals with the answers to some of the most commonly asked questions on the new standards. Covering the often complicated areas of accounting for financial instruments, tangible and intangible assets, provisions, and revenue recognition, the book also contains a valuable overview of the standards and the thinking behind them. Includes a comprehensive section on the new IFRS for small and medium enterprises Contains real-world examples from financial reports; a glossary of commonly used terms; and a 'Test Your Knowledge' section Provides a simple way to get up to speed on these often confusing, principles-based standards
