Scope and Structure of Financial Statements

Statement of profit and loss and other comprehensive income

Statement of Changes in Equity

Statement of financial position

Definition

Recognition and Initial Measurement

Subsequent Measurement

Treatment of Revaluation Reserve

Depreciation

Subsequent Expenditure

Derecognition

Comprehensive Question

Definition

Recognition and Initial Measurement

Subsequent Measurement

Classification

Transfer

Derecognition

IAS 40 Comprehensive Question & Solution

Introduction of IFRS 15 and Revenue

Five step modelprocess

Different types of arrangements/Special Cases

IFRS 15 Contract Costs

Practice OTs

Intoduction of IFRS 16

Initial & Subsequent Measurement

Exceptions

Sale and Leaseback

Identification of Lease Contract

Presentation Requirements

IFRS 16 Comprehensive Question and debrief

Definition

Temporary Differences

Balance Sheet and Income Statement Approach

Under/Over Provision

Impact of Revaluation Gains

Deferred Tax Practice Question

Introduction of Intangible Assets

Initial and Subsequent Measurement

Impairment and Derecognition

Practice Question and Solution

Introduction to provision, criteria and types of obligation

Double Entry and Measurement

Examples

Contingent Asset and Liability

Practice Questions

Definition

Timing and Indications of Impairment

Cash Generating Units

Reversal of Impairment

IAS 36 Questions Debrief

Definition

Classification

Accounting for Financial Assets

Practice Question

Classification as Equity or Liability

Puttable Instruments

Treatment of Issue Costs, interest paid, dividend paid

Compound Financial Instruments

Treasury Shares

Other Definitions

Practice Questions

Introduction and Accounting Policies

Accounting Estimates

Errors and Accounting Treatment

Practice Question

Introduction and Types of events

Examples

Going Concern Exception

Practice Question

Introduction and Functional Currency

Initial measurement of Foreign currency transactions

Subsequent Measurement and Presentation Currency

Summary table of foreign currency transactions

Example Question and Solution

Consolidation Introduction and Overview

W1 - Goodwill and It's Calculation

W2A,W2B - Consolidated RE & Subsidiary Post-acq RE

W3 - Non Controlling Interest (NCI)

Consolidation - Short Example Question

IFRS 3 - Full and Proportionate Goodwill

Intra-group transactions

Unrealized Profit Adjustments (URP)

Fair value adjustments

Forms of consideration

Forms of Consideration - Short Example Question

Introduction of Investment in Associate

Equity Method of Accounting treatment of Investment in Associate

Adjustments required for Investment in Associate

Short Example Question Investment in Associate

Introduction of Consolidated SOCI

Complete adjustments and workings for preparation of CSOCI

Definition and Presentation

Classification Criteria

Initial and Subsequent Measurement

Discontinued Operations

Short Example Question

Introduction and Basic EPS

Bonus Issue of shares

Example Question Bonus Issue

Right Issue of shares

Example Question Rights Issue

Diluted EPS and Example

Definition and Recognition

Initial and Subseuqent Measurement

Presentation

Short Example Question

Structure of Statement of Cashflows

Workings and T Accounts for SOCF

Short Example Question

Introduction and Accounting treatment of borrowing costs

Example Questions

Introduction and Recognition of Govt grants

Classification and Categories of Govt grants

Presentation of Govt. grants and Example Question

Introduction and Objectives of Financial Statements

Qualitative characteristics of financial statements

Recognition criteria for elements of Financial statements

Definitions, Measurement and Derecognition

Profitability Ratios

Liquidity and Solvency Ratios

Investor's ratios

Drawbacks

Financial Reporting (F7) Study Notes by Sir Huzaifa Jamil