Ifrs X Financial Statement Presentation - a Boon Or Bane for the World of International Financial Reporting?
GRIN Verlag, 2011 - 120 pages
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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accrual adjusted due analysis of changes AoCiAaL April 24 assets and liabilities cash and cash cash equivalents CFA Institute Christian Franz Georg classification closing balance cohesiveness principle comprehensive income conclusions drawn continued operation costs debt category deferred tax disaggregation principle discontinued operation dividends DMOCF drawn in chapter entity equity securities FASB & IASB figure financial lease liabilities Financial Statement Presentation financing activities financing section Franz Georg Zube function disaggregation GAAP gains/losses IASB/FASB Meeting IASCF IFRS Foundation IFRS X IMOCF income and expenses income tax income tax allocation intangible assets investment properties KPMG liabilities and equity line items multi nature disaggregation operating activities operating cash flow operating category operating finance subcategory pursuant to IFRS reclassified subsequently retained earnings revaluation surplus segment short term investments statement of cash statement of comprehensive statement of financial tion total short term users