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Section 1 Practical Examples (292 downloads )
Section 2 Practical Examples (140 downloads )
Section 3 Practical Examples (134 downloads )
Section 4 Practical Examples (103 downloads )
Section 5 Practical Examples (139 downloads )
Section 6 Practical Examples (107 downloads )
Section 7 Practical Examples (120 downloads )
Section 8 Practical Examples (109 downloads )
Section 9 Practical Examples (155 downloads )
Section 10 Practical Examples (137 downloads )
Section 11 Practical Examples (379 downloads )
Section 12 Practical Examples (213 downloads )
Section 13 Practical Examples (109 downloads )
Section 14 Practical Examples (125 downloads )
Section 15 Practical Examples (103 downloads )
Section 16 Practical Examples (213 downloads )
Section 17 Practical Examples (239 downloads )
Section 18 Practical Examples (114 downloads )
Section 19 Practical Examples (133 downloads )
Section 20 Practical Examples (115 downloads )
Section 21 Practical Examples (92 downloads )
Section 22 Practical Examples (132 downloads )
Section 23 Practical Examples (100 downloads )
Section 24 Practical Examples (128 downloads )
Section 25 Practical Examples (68 downloads )
Section 26 Practical Examples (101 downloads )
Section 27 Practical Examples (83 downloads )
Section 28 Practical Examples (100 downloads )
Section 29 Practical Examples (146 downloads )
Section 30 Practical Examples (80 downloads )
Section 31 Practical Examples (65 downloads )
Section 32 Practical Examples (74 downloads )
Section 33 Practical Examples (116 downloads )
Section 34 Practical Examples (89 downloads )
Section 35 Practical Examples (196 downloads )
Example 1: Disclosure example for a qualifying entity applying reduced disclosure exemptions.
Example 2: Disclosure detailing application of July 2015 amendments.
Example 3: Disclosure detailing application of July 2015 amendments.
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Example 1: Turnover/revenue versus other income.
Example 2: Turnover/revenue versus other income.
Example 3: Turnover/revenue versus other income.
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Example 1: Statement of compliance with FRS 102.
Example 2: Statement of compliance with FRS 102 on adoption of FRS 102.
Example 3: Going concern disclosure.
Example 4: Basis of preparation – material uncertainty over going concern.
Example 5: Other than going concern disclosure.
Example 6: Frequency of reporting disclosure.
Example 8: Basis of Preparation Policy.
Example 9: Basis of Preparation Policy.
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Example 1: Extract from the Consolidated Balance Sheet – S.4 FRS 102.
Example 2: Extract from the notes to the financial statements – Ordinary share capital
Example 3: Extract from the notes to the financial statements – Reserves note.
Example 4: Alternative Statement of Financial Position S4.2.A – S4.2D Alternative IFRS Version.
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Section 5 Practical Examples (139 downloads )
Example 1: Consolidated Statement of Change in Equity
Example 2: Statement of Change in Equity – Non-Group Company.
Example 3: Prior year adjustments or change in policy reflected in Statement of Changes in Equity.
Example 4: Statement of income and retained earnings.
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Example 1: Cash and cash equivalents.
Example 2: Cash and cash equivalents.
Example 3: Cash flows from operating activities – Indirect Method.
Example 4: Cash flows from operating activities – Direct Method.
Example 5: Need to show only cash paid in the cash flow – fixed assets on finance lease.
Example 6: Fixed asset not paid at year end.
Example 7: Fixed asset not paid at year end.
Example 8: Cash received as part of the acquisition.
Example 9: Cash received as part of the acquisition.
Example 10: Subsidiary acquired partly by way of cash and partly by issuance of shares.
Example 11: Loans assured as part of the acquisition.
Example 12: Settled foreign exchange gain/loss.
Example 13: Unrealised gain-non-operating.
Example 14: Unrealised foreign exchange on cash and cash equivalents.
Example 15: Foreign subsidiaries.
Example 16: Analysis of cash and cash equivalent and net debt.
Example 17: Effective interest rate adjustments.
Example 18: Non-cash items example disclosure.
Example 19: Cash flow statement – see below.
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Example 1: Extract of examples of accounting policies note.
Example 2: Critical Accounting Judgements and Estimates
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Example 1: Exercise of dominant influence
Example 2: Potential voting rights
Example 3: Ability to control composition of the board
Example 5: Process of consolidation
Example 6: Eliminating intra group transactions 100% owned – not in inventory at year end
Example 7: Eliminating intra group transactions 100% owned – in inventory at year end
Example 8: Eliminating intra group transactions not 100% owned – not in inventory at year end
Example 9: Eliminating intra group transactions not 100% owned – some in inventory at year end
Example 10: Year-end intra-group balances
Example 11A: elimination of notional amounts on inter-company loans not at market rates
Example 11B: elimination of intergroup dividends
Example 11C: Restatement of investment property to property, plant and equipment
Example 13: Uniform accounting policies
Example 14: Business combination achieved in stages
Example 15: Acquiring a further controlling interest
Example 16A: Acquiring a further controlling interest but 100% interest still not attained
Example 17: Disposing of controlling interest but controlling interest retained
Example 18: Disposal of a subsidiary where control is lost
Example 21 – Extract from notes to the financial statements – contingent consideration note..
Example 28 – Extract from the notes in the consolidated financial statements – negative goodwill
Example 29: Profit and loss account
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Example 1: Change in accounting policy
Example 2: Revising a residual value of an asset
Example 3: Revising a useful life of an asset
Example 4: Change in accounting estimate disclosure
Example 5: Change in functional currency – extract from notes to the financial statements
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Example 1: Investment in shares.
Example 2: Investment in shares – 15%.
Example 3: variable and fixed interest payments.
Example 5: Fixed and variable interest payments.
Example 6: Fixed rate loan for a set period and then a reversion to the banks variable rate.
Example 8: Loan/bond which is convertible into the borrower’s equity.
Example 9: Loan issued which is linked to a general inflation index.
Example 10: Variation in return.
Example 11: Prepayment options.
Example 12: Loan extension option.
Example 12a: Unguaranteed Capital
Example 12b: Collective investment funds.
Example 13: loan at market rates with transaction costs.
Example 13a: Change in estimate.
Example 14: Intercompany loan from a parent company.
Example 15: Loan provided to the company by a director
Example 16a: Intercompany loan from a related party or a fellow subsidiary.
Example 16b Loan from subsidiary to the parent company.
Example 16c: Sale with unusual credit terms.
Example 16d: Purchase with unusual credit terms.
Example 17a: Loans repayable on demand..
Example 17b: Loan repayable on demand but with notice of 1 year and 1 day.
Example 18: Bonds – discount/premium.
Example 20: Impairment of debt instruments.
Example 20a: Bonds with an impairment
Example 21: Asset recognised due to settlement
Example 22: Sale of debtors with recourse.
Example 23: Sale of debtors without recourse.
Example 24: Transfer of assets at fair value subject to a call option.
Example 25: Substantial modification of a loan.
Example 26: Sample disclosure requirements
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Section 12 Practical Examples (213 downloads )
Example 2: Inventories held for distribution.
Example 3: Cost of inventory – rebates.
Example 3A: Purchase with unusual credit terms.
Example 3B: Non-exchange transaction.
Example 4: Allocation of overheads to production with overheads higher than normal:
Example 6: Raw material less than cost but finished good not
Example 7: Post balance sheet events and requirement for impairment
Example 8: Post balance sheet events and requirement for impairment
Example 9: Derecognition of inventory.
Example 10 – Extract from an accounting policy note and required inventory disclosures.
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Example 1: Potential voting rights.
Example 2: Potential voting rights.
Example 4: Dividend paid out of pre-acquisition reserves.
Example 5: Equity method accounting.
Example 6: Elimination of profit where investor sells goods to investee.
Example 7: loss in excess of investment
Example 8: Deferred tax on enremitted earnings
Example 9: Full derecognition of associate due to sale.
Example 10: Partial derecognition of associate due to sale but significant influence still retained.
Example 11: Transfer of associate as a result of loss of significant influence due to sale.
Example 12: Loss of significant influence not due to sale.
Example 14: Step increase in an existing associate.
Example 15: Step increase from investment /financial asset to associate.
Example 16: Adoption of fair value through other comprehensive income.
Example 17: Adoption of fair value through profit and loss.
Example 18: Extract from the accounting policy notes to the consolidated financial statements.
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Section 15 Practical Examples (103 downloads )
Example 1: Fair value movements and deferred tax impact
Example 2: Investment Property Fair value movements and deferred tax impact
Example 3: Deferred tax asset recognition
Example 4: Purchasing on deferred credit terms
Example 5: Transfer to/from investment property
Example 6: Property leased to other group companies classified as investment property
Example 7: Extract from the notes to the financial statements – note on investment property
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Example 2: Replacement of a major component which was previously not separated
Example 3: Periodic replacement
Example 4: Separation of land and buildings
Example 5: Employee costs during construction
Example 6: purchasing on deferred credit terms
Example 7: Exchange of assets- assets that lack commercial substance
Example 8: Revaluation of assets of the same class
Example 9: Accounting for revaluations and subsequent movements – depreciable assets
Example 11: Transfer of depreciation on revalued amount from profit and loss reserves
Example 12: Revising a residual value of an asset
Example 13: Change in accounting policy disclosure
Example 14: Commencement of depreciation
Example 15: Depreciation on basis of units of production
Example 17: Extract from notes to the financial statements (assuming revaluation upwards)
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Examples
Example 1: Commencement of capitalisation.
Example 2: Allowable costs for capitalisation.
Example 3: Revising residual value of an asset.
Example 4: Change in accounting estimate.
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Example 1: Determining a Business.
Example 2: Determining a Business.
Example 3: Identifying the Acquiring Company.
Example 4: Identifying the acquirer
Example 5: Determining cost where control achieved in stages.
Example 6: Changes in contingent consideration – change in estimate.
Example 7: Contingent consideration – No provision booked in year 1.
Example 8: Valuing work in progress.
Example 10: Favorable/unfavorable contract
Example 11: Deferred tax on business combinations
Example 13: Journals to reflect the business combination.
Example 14: Revising the useful life of goodwill
Example 15: Business combination achieved in stages.
Example 16: Acquiring a further controlling interest
Example 17: Acquiring a further controlling interest
Example 18: Disposing of controlling interest but controlling interest retained.
Example 20: Group reorganisations.
Example 23: Extract from notes to the financial statements – contingent consideration note.
Example 27: Extract from the profit and loss account for an entity which is not a parent that holds an investment in a subsidiary, associate/joint venture or an entity that is a parent but consolidated financial statements are not required to be prepared where income is received from an associate/joint venture/subsidiary.
Example 29: Extract from the consolidated Balance Sheet for negative goodwill
Example 30: Extract from the accounting policy notes – Group reconstruction and merger accounting.
Example 31: Extract from notes to the financial statements – Merger Method.
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Example 1: Residual value guarantee.
Example 2: Changes in lease classification.
Example 3: Accounting for finance leases – initial recognition and subsequent measurement– Lessee
Example 4: Operating lease with inflationary increases.
Example 4A: Leases linked to general inflation indexes.
Example 6: Finance lease accounting for the lessor
Example 7: Finance lease accounting for the lessor – change in residual value.
Example 8: Operating lease with inflationary increases.
Example 10: Sale and Leaseback
Example 10A: Extract from an accounting policy note and the related disclosures – Operating Lease.
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Example 3: Staff retraining as a result of changes in the income tax system..
Example 4: Provision required for a future date.
Example 5: Court case where difficulty assessing whether present obligation exists.
Example 6: reimbursement by a third party.
Example 7: determining most likely outcome where a single obligation
Example 8: Estimating a provision.
Example 9: Present valuing a provision, change in estimate/cash flow and change in discount rate.
Example 12: Onerous supply contract
Example 13: Future operating losses.
Example 14: Closure of a division: no implementation before end of reporting period.
Example 15: Closure of a division: communication and implementation before end of reporting period.
Example 16: Restructuring provision – no formal plan.
Example 17: Contingent liability – remote.
Example 18: Contingent liability – possible.
Example 20: Contingent assets.
Example 21: Financial guarantees.
Example 22: Decommissioning reinstatement costs
Example 23: Reinstatement provision on property which is held on operating lease.
Example 24: Dilapidation requirement
Example 27 – Extract from accounting policy and notes to the financial statements.
Example 28 – Extract from accounting policy and notes to the financial statements.
Example 29 – Extract from notes to the financial statements showing prejudicial disclosure.
Example 30 – Extract from notes to the financial statements.
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Example 1: Redeemable preference shares at option of the holder with mandatory coupon.
Example 2: Non-redeemable preference shares with mandatory coupon at market rate.
Example 4: Shares redeemable at the option of the holder
Example 5: Non-redeemable preference shares with discretionary dividend.
Example 6: Redeemable preference shares at option of issuer with discretionary dividend.
Example 7: Redeemable preference shares at option of issuer with mandatory dividend.
Example 13: Fixed for fixed arrangement
Example 13A: Application of Section 22.3(b)(ii) of FRS 102.
Example 13B: Future contingency amount
Example 13C: Future contingency.
Example 14: Accounting treatment on original issue of shares.
Example 15: Accounting treatment on original issue of shares – left as unpaid.
Example 16: Capitalisation/bonus issue.
Example 17: Accounting treatment for a compound financial instrument
Example 18: compound instrument where conversion is chosen.
Example 19: compound instrument where conversion is chosen.
Example 20: Accounting for transaction costs in acquiring a compound financial instrument
Example 21: Acquiring a further controlling interest
Example 22: Acquiring a further controlling interest
Example 23: Disposing of controlling interest but controlling interest retained.
Example 24: Extract of Statement of Changes in Equity from financial statements.
Example 25: Extract from accounting policies note.
Example 27: Extract from notes to the financial statements – share capital
Example 28: Extract from notes to the financial statements – dividends on equity shares.
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Examples
Example 1: Probable or possible criteria on sale.
Example 2: Sales incentives/rebates.
Example 6: Deferred payment example.
Example 7: Deferred payment example.
Example 8: Identifying separable components and allocating relative fair value.
Example 9: Identifying separable components and allocating relative fair value – goods.
Example 10: Relative fair value results in a loss.
Example 11: Cost plus a reasonable margin.
Example 12: Customer loyalty awards
Example 13: Right of return in exchange for cash/vouchers.
Example 15: Discount coupons – buy one get one free.
Example 17: Sale of extended guarantee.
Example 18: Interest free credit
Example 19: Construction real estate – buyer has the right to specify structural design.
Example 20: Construction real estate – buyer has no right to specify structural design.
Example 20A: Reliable measurement
Example 20B: Reliable measurement
Example 21: Stage of completion – detailed in the contract
Example 22: Stage of completion. Example 23: Proportion of costs method.
Example 24: Insurance agency commissions.
Example 25: – Proportion of cost basis.
Example 26: Inability to reliably measure the contract
Example 28: Application of change in estimate.
Example 29 – Extract from the Accounting policy notes.
Example 32: Extract from notes to the financial statements for revenue derived by brokers.
Example 33: Extract from notes to the financial statements for construction contracts
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Downloads
Section 24 Practical Examples (128 downloads )
Practical Examples – Government Grants
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Example 1: Borrowing costs net of investment income.
Example 2: Calculation of capitalisation rate.
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Downloads
Section 26 Practical Examples (101 downloads )
Practical Examples – Share Based Payment
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Example 1: Lowest available CGU.
Example 2: Lowest available CGU.
Example 3: A decline in the asset’s market value.
Example 4: Significant adverse changes that have taken/will take place in the market
Example 5: Change in assets use.
Example 6: Introduction of new competitor
Example 7: Impairment indicators – decision to close.
Example 8: Performance of an asset is worse than expected.
Example 9: Investment in subsidiary.
Example 10: Value in use differs from fair value less costs to sell
Example 11: Fair value less costs to sell
Example 12: Determining cash flow to include.
Example 14: Impairment loss for a CGU with goodwill
Example 15: Restriction of reduction of assets as a result of an impairment
Example 16: Impairment loss on a CGU with goodwill and non-controlling interests
Example 17: Reversal of impairment on an individual asset
Example 18: Reversal of cash generating unit
Example 19 – extract from an accounting policy note and disclosure requirements.
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Example 1: Holiday pay accrual – carry forward of holiday leave including payment on leaving.
Example 2: Holiday pay accrual.
Example 3: Holiday pay accrual – no cash payment for untaken holidays on leaving.
Example 4: Holiday year differs to accounting year.
Example 5: Holiday year differs to accounting year.
Example 8: Defined contribution scheme.
Example 9: Defined benefit plan.
Example 10: Calculating the net defined benefit asset/liability.
Example 11: Calculating the net defined benefit asset/liability.
Example 12: Non-vesting conditions.
Example 13: Projected unit credit method.
Example 18: Other long term employee benefits.
Example 19: Termination benefits – Forced and voluntary redundancy.
Example 20: Recognising deferred tax.
Example 22: Extract from notes to the financial statements.
Example 23: Extract from the accounting policy notes and notes to the financial statements.
Example 24: Extract from the notes to the financial statements.
Example 26: Extract from notes to the financial statements.
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Example 1: Impact of change in tax rate – substantively enacted just after year end.
Example 2: Change in rate during the year.
Example 3: Carry back of losses.
Example 4: Close company surcharge.
Example 5: Close company surcharge – no distributable reserves.
Example 6: Losses forward – recognition of deferred tax.
Example 7: Deferred tax liabilities available to utilise deferred tax assets.
Example 8: Conditions for retaining tax allowances have been met.
Example 9: Dual use manner of recovery.
Example 10: Indexation of base cost – non depreciable asset.
Example 11: Allowable for tax and depreciable.
Example 12: Asset allowable for tax, depreciable and revalued.
Example 14: Transfer of depreciation on revalued amount from profit and loss reserves.
Example 16: Fair value movements and deferred tax impact.
Example 18: Pensions/royalties.
Example 19: Pensions/royalties.
Example 21: Non-puttable ordinary shares and deffered tax.
Example 22: Interest rate swaps – derivatives and deffered tax.
Example 23: Forward foreign currency contract and deffered tax.
Example 27: Defined benefit obligations.
Example 29: Deferred tax on net defined benefit asset/liability.
Example 30: Recognising deferred tax.
Example 31 – Deferred tax on consolidated adjustments – elimination of profit from inventory.
Example 32: Undistributed profits of a subsidiary.
Example 33: Assets partly allowable for tax purposes.
Example 34: Deferred tax on business combinations.
Example 36: Dividend received.
Example 37: Offset of current tax assets and liabilities.
Example 38: Offset of current tax assets and liabilities.
Example 39: Offset of current tax assets and liabilities.
Example 40: Offset of deferred tax assets and liabilities.
Example 41: Extract from the accounting policy note and notes to the financial statements.
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Example 1: Intermediary holding company.
Example 2: Intermediate holding Company.
Example 3: Intermediate holding Company.
Example 4: Functional currency.
Example 5: Functional currency.
Example 6: Retranslation of monetary asset – purchase.
Example 7: Retranslation of monetary asset – sale.
Example 8: Retranslation of non-monetary asset
Example 9: Retranslation of non-monetary asset – impairment of asset
Example 10: Net investment in a foreign operation.
Example 11: Change in functional currency due to a change in circumstances.
Example 12: Presentational currency.
Example 13: Consolidation of a foreign operations results.
Example 14 – Extract from notes to the accounting policies.
Example 16: Example of a Prior year adjustment due to a change in functional currency.
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Section 31 Practical Examples (65 downloads )
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Example 2: Recoverability of trade debtor balances.
Example 3: Indicators of impairment of PPE/land etc.
Example 4: Profit on sale of plant after year end following decision to close.
Example 5: Closing office and relocating.
Example 6: Other than Going concern disclosure.
Example 7: Extract for the approval of the financial statements.
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Example 1: Wholly owned group exemption.
Example 3: Close family members.
Example 4: Close family members.
Example 5: entities are members of a group (Section 33.2(b)(I of FRS 102))
Example 7: Both entities are joint venture of the same third party (Section 33.2(b)(iii))
Example 10: Transactions with a subsidiary of a joint venture or associate.
Example 11: Pension funds (Section 33.2(b)(v)of FRS102)
Example 13: Extract from notes to the financial statements.
Example 14: Extract from notes to the financial statements.
Example 15: Extract from the notes to the financial statements.
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Example 2: Application of the fair value model com.
Example 3: Application of the fair value model – livestock.
Example 4: Biological Assets held at fair value.
Example 5: Extract from notes to the financial statements for biological assets held at fair value.
Example 6: Extract from accounting policies notes for livestock/biological assets carried at cost.
Example 14: Donated goods or services – fixed assets.
Example 15: Donated goods or services – donated goods held for resale – impractical to measure.
Example 16: Donated goods or services – donated goods held for resale – practical to measure.
Example 18: Donated goods or services – donated services.
Example 19: Business Combinations: Gifts of business etc.
Example 20: Business Combinations: Mergers.
Example 21: Concessionary loans – option not to discount.
Example 22: Concessionary loans – option to discount.
Example 24: Accruals model (applicable for FRS 102 only and not Charities SORP) – capital grant.
Example 25: Accruals model (applicable for FRS 102 only and not Charities SORP) – revenue grant.
Example 26: Accruals model (applicable for FRS 102 only and not Charities SORP) – revenue grant.
Example 27: Performance model (applicable for FRS 102 and Charities SORP) – revenue grant.
Example 28: Performance model – Revenue Grant.
Example 29: Capital grants (FRS 102 and FRS 102 SORP – performance model).
Example 30: Grants and performance conditions.
Example 31: Grants and performance conditions.
Example 32: Grants and performance conditions.
Example 33: Grants and performance conditions.
Example 34: Grants and performance conditions.
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Section 35 Practical Examples (196 downloads )
Practical Examples – Transition to this FRS
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