Int Accounting Standards: 11, 19, 28, 32, 36, 38, 40
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Kartei Details
| Zusammenfassung | This flashcard set covers advanced accounting standards at the university level, focusing on key concepts like contracts, assets, and investments. It delves into topics such as investment property, intangible assets, financial instruments, employee benefits, and construction contracts. The flashcards explore various accounting models, methods, and standards, including IAS 11, 19, 28, 32, 36, and 38. This set is ideal for accounting students and professionals who need to understand and apply these international accounting standards in practice. |
|---|---|
| Karten | 63 |
| Lernende | 6 |
| Sprache | English |
| Kategorie | BWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 07.01.2020 / 08.01.2020 |
| Weblink |
https://card2brain.ch/box/20200107_int_accounting_standards_11_19_28_32_36_38_40
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Obsolescence is external source of information
When there is a sign that an asset is depreciated, it is important to review and adjust
The impairment test can be done at different times each year
IAS 38 provides instructions for how to treat all intangible assets
One of the goals of International Accounting Standards is to :
IAS 38 enables us to classify intangible assets
"An intangible asset is an identifiable monetary asset without physical substance"
Identificability is one of the 3 main features in defining an intangible asset
Which one is not an intangible asset?
Which one is not an indicator of control?
If recognition criteria are not met, expenditure on asset is recognized as an expense
Under IAS 40, which model is impossible to use to measure investment property?
Under IAS 40, investment property includes
Under IAS 40, investment property does NOT include
If an entity supplies security services to lessees of their property, it can be treated as investment property
Investment property is initially measured at cost, NOT including transaction costs
Under the cost model, investment property is remeasured at the end of each reporting period
When commencement of owner-occupation takes place, it is possible to transfer from investment property
Fair value model discloses
What is NOT discloded under BOTH fair value and cost models?
Constraction contracts include the destruction of an asset
Under IAS 11, two or more contracts should be accounted for separately, even if they were negotiated together
What isn't obligatory to determine if the construction of a series of assets should be treated as separate contracts?
A fixed price contract is a contract in which the contractor agrees to a
Which of the following costs cannot be allocated to a construction contract cost?
Architects fees for the construction of a building should not be accounted for under IAS 11
A contract in which the contractor agrees to a pre-determined contract price
A contract in which the contractor is reimbursed for pre-defined costs, plus a percentage
Contract revenue is measured at ____ of received or receivable revenue
IAS19 is an accounting rule concerning ________ under the IFRS rules set by the International Accounting Standards Board
IAS 19 categories employee benefits into 4 categories; which one is not one of them?
Matching principle means to recognize an expense in the period when matching revenue is recognized.
Which one is not a short-term employee benefit?
Can be used as an alternative to make payments, e.g. to employees
Holiday Entitlement is usually a good example for _________ employee benefits.
What is the usual amount (or closest) for profit-sharing that firms give to employees?
Which one is NOT a post-employment benefit?
Termination benefits are provided in exchange for the service of the employee
Objective of IAS 28 is to prescribe the accounting for investments in
IAS 28 applies to investments in associates held by
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