Wiley IFRS: Practical Implementation Guide and Workbook, Third Edition | by Abbas Ali Mirza, Graham J. Holt and Liesel Knorr | 2011 | ISBN: 9780470647912. Accounting Book. Insurance Contracts. International Financial Reporting Standards

May 30th, 2011 | by kutenk |

Wiley IFRS: Practical Implementation Guide and Workbook, Third Edition
by Abbas Ali Mirza, Graham J. Holt and Liesel Knorr
2011 (600 pages)
ISBN:9780470647912
Designed with the need of the user in mind, this quick reference guide includes easy-to-understand IAS/IFRS outlines, explanations, and practical insights that greatly facilitate understanding of the implementation issues involved in applying these complex standards.
Wiley IFRS—Practical Implementation Guide and Workbook, Third Edition
Foreword to the First Edition—By the Chairman of IASB
Foreword to the First Edition—By the Secretary General of IOSCO
Preface
Chapter 1 – Introduction to International Financial Reporting Standards
INTRODUCTION
WORLDWIDE ADOPTION OF IFRS
REMAINING EXCEPTIONS
THE INTERNATIONAL ACCOUNTING STANDARDS COMMITTEE
THE INTERNATIONAL ACCOUNTING STANDARDS BOARD
STRUCTURE AND GOVERNANCE

Chapter 2 – IASB Framework
INTRODUCTION
OBJECTIVE OF FINANCIAL STATEMENTS
UNDERLYING ASSUMPTIONS
QUALITATIVE CHARACTERISTICS OF FINANCIAL STATEMENTS
ELEMENTS OF FINANCIAL STATEMENTS
CONCEPTS OF CAPITAL AND CAPITAL MAINTENANCE
FUTURE DEVELOPMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 3 – Presentation of Financial Statements (IAS 1)
INTRODUCTION
SCOPE
PURPOSE OF FINANCIAL STATEMENTS
OVERALL CONSIDERATIONS
STRUCTURE AND CONTENT
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
OTHER AMENDMENTS TO IAS 1
MULTIPLE-CHOICE QUESTIONS

Chapter 4 – Inventories (IAS 2)
BACKGROUND AND INTRODUCTION
SCOPE
MEASUREMENT OF INVENTORIES
COST OF INVENTORIES
TECHNIQUES FOR MEASUREMENT OF COSTS
COST FORMULAS
NET REALIZABLE VALUE
RECOGNITION OF EXPENSE
DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 5 – Statement of Cash Flows (IAS 7)
BACKGROUND AND INTRODUCTION
SCOPE
BENEFITS OF PRESENTING A STATEMENT OF CASH FLOWS
CASH AND CASH EQUIVALENTS
PRESENTATION OF THE STATEMENT OF CASH FLOWS
OPERATING ACTIVITIES
INVESTING ACTIVITIES
FINANCING ACTIVITIES
NONCASH TRANSACTIONS
DIRECT VERSUS INDIRECT METHOD
REPORTING CASH FLOWS ON A GROSS BASIS VERSUS A NET BASIS
FOREIGN CURRENCY CASH FLOWS
REPORTING FUTURES, FORWARD CONTRACTS, OPTIONS, AND SWAPS
RECONCILIATION OF CASH AND CASH EQUIVALENTS
ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES AND OTHER BUSINESS UNITS
OTHER DISCLOSURES REQUIRED AND RECOMMENDED BY IAS 7
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 6 – Accounting Policies, Changes in Accounting Estimates and Errors (IAS 8)
BACKGROUND AND INTRODUCTION
ACCOUNTING POLICIES
SELECTION AND APPLICATION OF ACCOUNTING POLICIES
CONSISTENCY OF ACCOUNTING POLICIES
FACTORS GOVERNING CHANGES IN ACCOUNTING POLICIES
APPLYING CHANGES IN ACCOUNTING POLICIES
LIMITATIONS OF RETROSPECTIVE APPLICATION
DISCLOSURES WITH RESPECT TO CHANGES IN ACCOUNTING POLICIES
CHANGES IN ACCOUNTING ESTIMATES
CORRECTION OF PRIOR PERIOD ERRORS
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 7 – Events after the Reporting Period (IAS 10)
BACKGROUND AND INTRODUCTION
SCOPE
AUTHORIZATION DATE
ADJUSTING AND NONADJUSTING EVENTS (AFTER THE REPORTING PERIOD)
DIVIDENDS PROPOSED OR DECLARED AFTER THE BALANCE SHEET DATE
GOING CONCERN CONSIDERATIONS
DISCLOSURE REQUIREMENTS
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS BARLOWORLD
MULTIPLE-CHOICE QUESTIONS

Chapter 8 – Construction Contracts (IAS 11)
BACKGROUND AND INTRODUCTION
COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS
CONTRACT REVENUE
CONTRACT COSTS
RECOGNITION OF CONTRACT REVENUE AND EXPENSES
FIXED-PRICE CONTRACT
COST-PLUS CONTRACT
PERCENTAGE-OF-COMPLETION METHOD
IFRIC 12
IFRIC 15
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS: HOLCIM, Annual Report, 2009
MULTIPLE-CHOICE QUESTIONS

Chapter 9 – Income Taxes (IAS 12)
BACKGROUND AND INTRODUCTION
CURRENT TAX LIABILITIES AND ASSETS
ACCOUNTING FOR DEFERRED TAX
CONSOLIDATED FINANCIAL STATEMENTS
TEMPORARY DIFFERENCES NOT RECOGNIZED FOR DEFERRED TAX
DEFERRED TAX ASSETS
TAX RATES
DISCOUNTING
CURRENT AND DEFERRED TAX RECOGNITION
DIVIDENDS
DISCLOSURE: KEY ELEMENTS
REVISION OF IAS 12
SICs
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 10 – Property, Plant, and Equipment (IAS 16)
BACKGROUND AND INTRODUCTION
SCOPE
RECOGNITION OF AN ASSET
DEPRECIATION
DERECOGNITION
IFRIC INTERPRETATION 1
DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS: HOLCIM, Annual Report, 2009
MULTIPLE-CHOICE QUESTIONS

Chapter 11 – Leases (IAS 17)
BACKGROUND AND INTRODUCTION
SCOPE
CLASSIFICATION OF LEASES
LEASES IN THE FINANCIAL STATEMENTS OF LESSEES
LEASES IN THE FINANCIAL STATEMENTS OF LESSORS
SALE AND LEASEBACK TRANSACTIONS AND OTHER TRANSACTIONS INVOLVING THE LEGAL FORM OF A LEASE
THE FUTURE OF LEASE ACCOUNTING
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS: STANDARD CHARTERED PLC-ANNUAL REPORT, 2009
J. SAINSBURY PLC FINANCIAL STATEMENTS TO MARCH 21, 2009
MULTIPLE-CHOICE QUESTIONS

Chapter 12 – Revenue (IAS 18)
BACKGROUND AND INTRODUCTION
SCOPE
MEASUREMENT OF REVENUE
IDENTIFICATION OF A TRANSACTION
SALE OF GOODS
RENDERING OF SERVICES
INTEREST, ROYALTIES, AND DIVIDENDS
DISCLOSURES
IFRIC 12, SERVICE CONCESSION ARRANGEMENTS
IFRIC 13, CUSTOMER LOYALTY PROGRAMS
AMENDMENT TO IAS 18 ANNUAL IMPROVEMENTS 2009
IFRIC 15, AGREEMENTS FOR THE CONSTRUCTION OF REAL ESTATE
DISCLOSURES
IFRIC 18, TRANSFERS OF ASSETS FROM CUSTOMERS
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 13 – Employee Benefits (IAS 19)
SCOPE
DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS—CLASSIFICATION
DEFINED BENEFIT PLANS
DEFINED CONTRIBUTION PLANS
CONTRASTING DEFINED BENEFIT AND DEFINED CONTRIBUTION
ACCOUNTING FOR DEFINED CONTRIBUTION SCHEMES
ACCOUNTING FOR DEFINED BENEFIT PLANS
KEY INFORMATION: DEFINED BENEFIT PLANS
STATEMENT OF FINANCIAL POSITION
STATEMENT OF COMPREHENSIVE INCOME
MEASURING THE DEFINED BENEFIT OBLIGATION
PLAN ASSETS
PENSION ASSETS AND LIABILITIES
CURTAILMENTS AND SETTLEMENTS
ACTUARIAL GAINS AND LOSSES—DEFINED BENEFIT PLANS
IFRIC 14, IAS 19—THE LIMIT ON A DEFINED BENEFIT ASSET, MINIMUM FUNDING REQUIREMENTS, AND THEIR INTERACTION
DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 14 – Accounting for Government Grants and Disclosure of Government Assistance (IAS 20)
INTRODUCTION
SCOPE
GOVERNMENT GRANTS
RECOGNITION OF GOVERNMENT GRANTS
NONMONETARY GRANTS
PRESENTATION OF GRANTS RELATED TO ASSETS
REPAYMENT OF GOVERNMENT GRANTS
GOVERNMENT ASSISTANCE
DISCLOSURES
MULTIPLE-CHOICE QUESTIONS

Chapter 15 – The Effects of Changes in Foreign Exchange Rates (IAS 21)
OBJECTIVES
FUNCTIONAL CURRENCY
RECORDING FOREIGN CURRENCY TRANSACTIONS USING THE FUNCTIONAL CURRENCY
RECOGNITION OF EXCHANGE DIFFERENCES
TRANSLATION TO THE PRESENTATION CURRENCY FROM THE FUNCTIONAL CURRENCY
TRANSLATION OF A FOREIGN OPERATION
DISPOSAL OF A FOREIGN ENTITY
DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 16 – Borrowing Costs (IAS 23)
BACKGROUND
SCOPE
BORROWING COSTS
QUALIFYING ASSETS
RECOGNITION
BORROWINGS ELIGIBLE FOR CAPITALIZATION
EXCESS OF CARRYING AMOUNT OF THE QUALIFYING ASSET OVER THE RECOVERABLE AMOUNT
COMMENCEMENT OF CAPITALIZATION
SUSPENSION OF CAPITALIZATION
CESSATION OF CAPITALIZATION
DISCLOSURE
EXTRACT FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 17 – Related-Party Disclosures (IAS 24)
BACKGROUND AND INTRODUCTION
SCOPE
EXPLANATION AND FURTHER ELABORATION OF THE DEFINITIONS
SCOPE EXCLUSIONS AND EXEMPTION
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 18 – Accounting and Reporting by Retirement Benefit Plans (IAS 26)
INTRODUCTION
SCOPE
DEFINED CONTRIBUTION PLANS
DEFINED BENEFIT PLANS
ADDITIONAL DISCLOSURES REQUIRED BY THE STANDARD
MULTIPLE-CHOICE QUESTIONS

Chapter 19 – Consolidated and Separate Financial Statements (IAS 27)
SCOPE
PRESENTATION OF FINANCIAL STATEMENTS
CONSOLIDATED FINANCIAL STATEMENTS
ACCOUNTING PROCEDURES
CHANGES IN THE OWNERSHIP INTERESTS
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 20 – Investments in Associates (IAS 28)
BACKGROUND AND INTRODUCTION
SIGNIFICANT INFLUENCE
EQUITY METHOD
EXCEPTIONS TO THE EQUITY METHOD
INVESTOR CEASES TO HAVE SIGNIFICANT INFLUENCE
ACQUISITION OF AN ASSOCIATE AND ACCOUNTING TREATMENT
IMPAIRMENT LOSSES
SEPARATE FINANCIAL STATEMENTS
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS: UNILEVER ANNUAL REPORT, 2009
BARLOWORLD Annual Report, 2009
MULTIPLE-CHOICE QUESTIONS

Chapter 21 – Financial Reporting in Hyperinflationary Economies (IAS 29)
SCOPE
DEFINITION OF HYPERINFLATION
CEASING TO BE HYPERINFLATIONARY
FUNCTIONAL CURRENCY AND HYPERINFLATION
RESTATEMENT OF FINANCIAL STATEMENTS: STATEMENT OF FINANCIAL POSITION
STATEMENT OF COMPREHENSIVE INCOME
SUNDRY POINTS
DISCLOSURE
MULTIPLE-CHOICE QUESTIONS

Chapter 22 – Interests in Joint Ventures (IAS 31)
SCOPE
DIFFERENT FORMS OF JOINT VENTURE
JOINTLY CONTROLLED OPERATIONS
JOINTLY CONTROLLED ASSETS
JOINTLY CONTROLLED ENTITIES
PROPORTIONATE CONSOLIDATION
EQUITY METHOD
EXCEPTION TO THE USE OF THE EQUITY METHOD AND PROPORTIONATE CONSOLIDATION
FINANCIAL STATEMENTS OF AN INVESTOR
SEPARATE FINANCIAL STATEMENTS
TRANSACTIONS BETWEEN A VENTURER AND A JOINT VENTURE
DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 23 – Financial Instruments—Presentation (IAS 32)
INTRODUCTION
SCOPE
PRESENTATION OF LIABILITIES AND EQUITY
PRESENTATION OF INTEREST, DIVIDENDS, LOSSES, AND GAINS
AMENDMENTS TO IAS 32—CLASSIFICATION OF “RIGHTS ISSUES”—EFFECTIVE 2010
EXTRACTS FROM FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 24 – Financial Instruments—Recognition and Measurement (IAS 39)
INTRODUCTION
SCOPE
CLASSIFICATION OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES INTO CATEGORIES
RECOGNITION
DERECOGNITION
MEASUREMENT
DERIVATIVES
HEDGE ACCOUNTING
RECENT AMENDMENTS TO IAS 39
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 25 – Earnings per Share (IAS 33)
BACKGROUND AND INTRODUCTION
ORDINARY SHARES
PRESENTATION OF EARNINGS PER SHARE
BASIC EARNINGS PER SHARE
RIGHTS ISSUES
DILUTED EARNINGS PER SHARE
PRESENTATION
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 26 – Interim Financial Reporting (IAS 34)
OBJECTIVE
FORM AND CONTENT OF INTERIM REPORTS
SELECTED EXPLANATORY NOTES
DISCLOSURE OF COMPLIANCE WITH IFRS
PERIODS TO BE PRESENTED BY INTERIM FINANCIAL STATEMENTS
MEASUREMENT
SUNDRY POINTS
IFRIC 10 INTERIM FINANCIAL REPORTING AND IMPAIRMENT
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS: NESTLÉ, HALF-YEARLY REPORT JANUARY/JUNE, 2009
NESTLÉ, HALF-YEARLY REPORT JANUARY/JUNE, 2009
MULTIPLE-CHOICE QUESTIONS

Chapter 27 – Impairment of Assets (IAS 36)
SCOPE
IDENTIFYING AN IMPAIRMENT LOSS
DETERMINATION OF A RECOVERABLE AMOUNT
FAIR VALUE LESS COSTS TO SELL
VALUE-IN-USE
FUTURE CASH FLOWS
DISCOUNT RATE
RECOGNITION AND MEASUREMENT OF AN IMPAIRMENT LOSS
CASH-GENERATING UNITS
GOODWILL
TIMING OF IMPAIRMENT TEST
GROUP OR DIVISIONAL ASSETS (CORPORATE ASSETS)
ALLOCATION OF IMPAIRMENT LOSS
REVERSAL OF AN IMPAIRMENT LOSS
DISCLOSURE REQUIREMENTS
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 28 – Provisions, Contingent Liabilities, and Contingent Assets (IAS 37)
BACKGROUND AND INTRODUCTION
SCOPE
PROVISIONS
CONTINGENT LIABILITIES
CONTINGENT ASSETS (Possible Assets)
INTERPRETATION OF IAS 37 (IFRIC)
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 29 – Intangible Assets (IAS 38)
INTRODUCTION AND BACKGROUND
SCOPE
ELABORATION AND INTERPRETATION OF THE DEFINITIONS
RECOGNITION AND MEASUREMENT
INTERNALLY GENERATED INTANGIBLE ASSETS
RECOGNITION OF AN EXPENSE
WEB SITE DEVELOPMENT COSTS
MEASUREMENT AFTER RECOGNITION
USEFUL LIFE
AMORTIZATION
IMPAIRMENT
RETIREMENTS AND DISPOSALS
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 30 – Investment Property (IAS 40)
BACKGROUND AND INTRODUCTION
INVESTMENT PROPERTY
RECOGNITION
MEASUREMENT
DISPOSALS
DISCLOSURES
MULTIPLE-CHOICE QUESTIONS

Chapter 31 – Agriculture (IAS 41)
BACKGROUND AND INTRODUCTION
RECOGNITION AND MEASUREMENT
GAINS AND LOSSES
FAIR VALUE RELIABILITY
GOVERNMENT GRANTS
ISSUES IN IAS 41
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 32 – First-time Adoption of International Financial Reporting Standards (IFRS 1)
BACKGROUND
SCOPE
DEEMED EXCEPTIONS TO THE “FIRST-TIME ADOPTER” RULE
OPENING IFRS STATEMENT OF FINANCIAL POSITION
ADJUSTMENTS REQUIRED IN PREPARING THE OPENING IFRS STATEMENT OF FINANCIAL POSITION (OR IN TRANSITION FROM PREVIOUS GAAP TO IFRS AT THE TIME OF FIRST-TIME ADOPTION)
ACCOUNTING POLICIES
REPORTING PERIOD
RATIONALE BEHIND USING THE “CURRENT VERSION OF IFRS”
TRANSITIONAL PROVISIONS IN OTHER IFRS
TARGETED EXEMPTIONS FROM OTHER IFRS
BUSINESS COMBINATIONS
SHARE-BASED PAYMENT TRANSACTIONS
INSURANCE CONTRACTS AND OIL AND GAS ASSETS
FAIR VALUE OR REVALUATION AS DEEMED COST
LEASES
EMPLOYEE BENEFITS
CUMULATIVE TRANSLATION DIFFERENCES
INVESTMENTS IN SUBSIDIARIES, JOINTLY CONTROLLED ENTITIES, AND ASSOCIATES
FINANCIAL INSTRUMENTS
IFRIC 1, CHANGES IN EXISTING DECOMMISSIONING, RESTORATION, AND SIMILAR LIABILITIES
BORROWING COSTS
IFRIC 18, TRANSFERS OF ASSETS FROM CUSTOMERS
ASSETS AND LIABILITIES OF SUBSIDIARIES, ASSOCIATES, AND JOINT VENTURES
EXCEPTIONS TO RETROSPECTIVE APPLICATION OF OTHER IFRS
PRESENTATION AND DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 33 – Share-Based Payments (IFRS 2)
BACKGROUND AND INTRODUCTION
RECOGNITION OF SHARE-BASED PAYMENT
EQUITY-SETTLED TRANSACTIONS
CASH-SETTLED TRANSACTIONS
TRANSACTIONS THAT CAN BE SETTLED FOR SHARES OR CASH
IFRIC 11, IFRS 2—GROUP AND TREASURY SHARE TRANSACTIONS
DEFERRED TAX IMPLICATIONS
DISCLOSURE
AMENDMENTS TO IFRS 2
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 34 – Business Combinations (IFRS 3)
BACKGROUND AND INTRODUCTION
IDENTIFYING AN ACQUIRER
COST OF ACQUISITION
NET ASSETS ACQUIRED
GOODWILL
STEP ACQUISITION
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
BARLOWORLD
MULTIPLE-CHOICE QUESTIONS

Chapter 35 – Insurance Contracts (IFRS 4)
BACKGROUND AND INTRODUCTION
FIRST PHASE
CHANGES IN ACCOUNTING POLICIES
CONCESSIONS IN IFRS 4
ACCOUNTING UNDER IFRS 4
RECENT PRONOUNCEMENTS
DISCLOSURES
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
FUTURE DEVELOPMENTS—AN INSIGHT
MULTIPLE-CHOICE QUESTIONS

Chapter 36 – Noncurrent Assets Held for Sale and Discontinued Operations (IFRS 5)
BACKGROUND AND SCOPE
EXTENSION OF PERIOD BEYOND ONE YEAR
SUNDRY POINTS
MEASUREMENT OF NONCURRENT ASSETS THAT ARE HELD FOR SALE
CHANGE OF PLANS
DISCLOSURE: NONCURRENT ASSETS
DISCONTINUED OPERATIONS: PRESENTATION AND DISCLOSURE
FUTURE DEVELOPMENTS
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 37 – Exploration for and Evaluation of Mineral Resources (IFRS 6)
INTRODUCTION
SCOPE
RECOGNITION
MEASUREMENT
IMPAIRMENT
DISCLOSURE
EXTRACTS FROM PUBLISHED FINANCIAL STATEMENTS
MULTIPLE-CHOICE QUESTIONS

Chapter 38 – Financial Instruments—Disclosures (IFRS 7)
INTRODUCTION
SCOPE
SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR FINANCIAL POSITION AND PERFORMANCE
NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS
AMENDMENT TO IFRS 7, IMPROVING DISCLOSURES ABOUT FINANCIAL INSTRUMENTS, ISSUED MARCH 2009, EFFECTIVE FOR ANNUAL PERIODS BEGINNING ON OR AFTER JANUARY 1, 2009
EXTRACTS FROM FINANCIAL STATEMENTS: LPKF, Annual Report, 2009
MULTIPLE-CHOICE QUESTIONS

Chapter 39 – Operating Segments (IFRS 8)
INTRODUCTION
SCOPE
CORE PRINCIPLE
CHIEF OPERATING DECISION MAKER
OPERATING SEGMENTS
REPORTABLE SEGMENTS
DISCLOSURE REQUIREMENTS OF IFRS 8
MULTIPLE CHOICE QUESTIONS

Chapter 40 – Financial Instruments (IFRS 9)
INTRODUCTION AND PURPOSE
CLASSIFICATION
THE BUSINESS MODEL TEST
CONTRACTUAL TERMS OF FINANCIAL ASSET TEST
MEASUREMENT
RECLASSIFICATION
EMBEDDED DERIVATIVES
LOANS AND RECEIVABLES, AND HELD TO MATURITY
IMPAIRMENT AND AVAILABLE FOR SALE
OTHER ISSUES
EQUITY INVESTMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME
EFFECTIVE DATE AND TRANSITION
MULTIPLE-CHOICE QUESTIONS

Chapter 41 – IFRS for SMEs
INTRODUCTION
DEFINITION OF SME
RATIONALE
TOPICS OMITTED FROM IFRS FOR SMEs
KEY PRINCIPLES
TYPES OF SIMPLIFICATIONS
ACCOUNTING TREATMENTS DISALLOWED UNDER IFRS FOR SMEs
SPECIFIC RECOGNITION AND MEASUREMENT SIMPLIFICATIONS
SUMMARY OF THE IFRS FOR SMEs
PRACTICAL EXAMPLES OF DISCLOSURE
MULTIPLE-CHOICE QUESTIONS

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  34. The Manager’s Pocket Calculator: A Quick Guide to Essential Business Formulas and Ratios | by Michael C. Thomsett | 2010 | ISBN: 9780814416358. Business Finance Book. Loan Amortization Tables. Financial Reporting Formulas
  35. A Beginner’s Guide to Charting Financial Markets: A Practical Introduction to Technical Analysis for Investors | by Michael Kahn | ISBN: 9781905641215. Investment Books. Investor Guide to Financial Analysis. How to Read A Financial Chart. Styles of Market Analysis
  36. The 30 Day MBA in Business Finance: Your Fast Track Guide to Business Success | by Colin Barrow | 2011 | ISBN: 9780749462154. Financial Business Reports. Debt Finance. Business Tax and Reporting Procedures. Mergers and Acquisitions
  37. A Guide to Financial Reporting: Business Combinations with SFAS 141 R, 157, and 160 | by Michael J. Mard, Steven D. Hyden and Edward W. Trott | 2009 | ISBN: 9780470497555. Finance Books. Valuation of Intangible Assets
  38. Merritt Commercial Insurance Risks: Property | by Silver Lake Publishing | ISBN: 9781563438981. Boiler and Machinery Insurance. Building and Personal Property Insurance Coverage. Earthquake Coverage. Flood Insurance. Farm Insurance. Inland Marine Insurance.
  39. Wiley CPA Examination Review: Problems and Solutions 2010-2011, 37th Edition, Volume 2 | by O. Ray Whittington and Patrick R. Delaney | ISBN: 9780470554289. Accounting Professional Responsibilities and Business Law. Federal Taxation. Not-for- Profit Accounting. Transactions in Property.
  40. Wiley GAAP 2011: Interpretation and Application of Generally Accepted Accounting Principles | by Steven M. Bragg | ISBN: 9780470554395. Business Accounting Ebook. Disclosure Checklist for Commercial Businesses

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