Accounting StandardsThis 13th edition introduces learners to general accounting principles and the disclosure requirements of company financial statements. In this comprehensive and up-to-date publication, principles are illustrated through questions and solutions. The learner's understanding of principles is gradually broadened by an increase in the degree of difficulty of the questions that are asked. Self-study is actively encouraged by the inclusion of questions for which the solutions are available to prescribing institutions only. Changes brought about by new accounting standards, issued as a consequence of the South African Institute of Chartered Accountants' Improvement of Accounting Standards Project, have once again been incorporated in this latest edition. "Accounting Standards" is intended to satisfy the specific requirements of learners and to reduce the workload of educators. |
Contents
AC 108 | 7 |
IAS | 8 |
AC 107 | 15 |
AC 101 | 19 |
AC 118 | 69 |
IAS 11 | 86 |
AC 107 | 107 |
AC 123 | 123 |
AC 126 | 451 |
AC 132 | 457 |
IAS 38 | 461 |
AC 110 | 467 |
AC 124 | 489 |
IAS 31 | 505 |
AC 125 | 533 |
AC 127 | 575 |
AC 125 | 125 |
AC 144 | 144 |
IAS 2 | 167 |
AC 109 | 181 |
Income taxes | 205 |
AC 123 | 255 |
AC 105 | 291 |
AC 116 | 355 |
AC 134 | 385 |
AC 112 | 401 |
AC 114 | 429 |
IAS 36 | 440 |
IAS 36 | 585 |
IAS 37 | 609 |
AC 129 | 625 |
IAS 38 | 633 |
AC 133 | 649 |
IAS 39 | 660 |
AC 135 | 679 |
IAS 40 | 680 |
AC 138 | 697 |
AC 142 | 699 |
AC 144 | 735 |
Common terms and phrases
28 February Accepted Accounting Practice accounting policy Accumulated depreciation African Revenue Service amortised calc Calculate capitalised Carrying amount cash flows Changes in equity CONSOLIDATED STATEMENT contract Cost of sales Current liabilities Current tax Deferred tax disclosed disclosure disposal group dividend earnings per share ended 30 June ended 31 December entity EQUITY AND LIABILITIES fair value finance lease financial position financial statements financial year ended IFRS impairment loss Income tax expense January journal entries LTD GROUP LTD NOTES Ltd Rand LTD STATEMENT machinery Non-current assets ordinary shares paid payable plant and equipment production Profit before tax profit or loss purchased QUESTION Rand 20.4 Rand Rand Dr/(Cr Rand Rand Rand recognised reporting date requirements of Statements Retained earnings Share capital South African Revenue statement of changes statement of comprehensive statement of financial Suggested solution tax rate tear allowance temporary differences Total comprehensive income Total equity Trade transactions xx xxx