IFRS X Financial Statement Presentation – a boon or bane for the world of international financial reporting?

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GRIN Verlag, Aug 23, 2011 - Business & Economics - 113 pages
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Master's Thesis from the year 2011 in the subject Business economics - Accounting and Taxes, grade: 1,0, Berlin School of Economics and Law, language: English, abstract: This master thesis deals with Staff Draft of Exposure Draft IFRS X Financial Statement Presentation (IFRS X)and analysis whether it is a boon or bane for the world of international financial reporting. IFRS X is going to replace IAS 1 Presentation of Financial Statements and IAS 7 Statement of Cash Flows. The analysis is based on a four step approach: 1) identification of the deficiencies of IAS 1/IAS 7, 2) detection of the changes in the financial statement presentation due to IFRS X, 3) analysis of the criticisms on IFRS X and judgment thereon and 4) answer to the key question. Within this master thesis, sample financial statements are prepared according to IAS 1/IAS7, IFRS X and IFRS X as adjusted as a result of the conclusions drawn in step 3.
 

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Contents

Introduction
viii
What are the deficiencies of IAS 1 and IAS 7?
2
What are IFRS Xs major changes to the financial statement presentation?
7
What are the major criticisms on IFRS X and the consequences thereof?
18
Overall conclusion and summary
56
Appendices
59

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