...Assets The Expected Loss Model DECEMBER 2009 This paper has been prepared jointly by FEE and EFRAG as part of their pro-active work to provide European constituents with a perspective on the IASB’s proposals for the impairment of financial assets. It is intended to promote discussion and debate on these proposals. The paper describes the proposals but does not represent the views of either EFRAG or FEE. The paper has been written to be read in conjunction with the IASB's recently issued Exposure Draft: Financial Instruments: Amortised Cost and Impairment. Each organisation will consider and formulate a response to the IASB’s Exposure Draft under their due process and governance requirements. Copies of the paper are available from the EFRAG and FEE websites (www.efrag.org; www.fee.be). Copies of the Exposure Draft are available from the IASB’s website (www.iasb.org). Federation of European Accountants Fédération des Experts comptables Européens Impairment of Financial Assets: The Expected Loss Model SUMMARY INTRODUCTION 1 In response to the recent financial crisis, aspects of financial reporting have come under the spotlight and calls for change have been raised. The financial reporting of losses on financial assets held at amortised cost is one such principal area and the International Accounting Standards Board (‗IASB‘) has reacted by proposing a new impairment model. Given the complexity involved in accounting for the impairment of financial assets, both FEE and EFRAG...
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...international financial reporting standards CERTIFICATE Learning materiaLs Contents FINANCIAL REPORTING CONTEXT..............................................................3 THE IFRS FRAMEWORK ..............................................................................17 PRESENTATION OF FINANCIAL STATEMENTS ........................................35 ACCOUNTING POLICIES .............................................................................49 REVENUE......................................................................................................61 INVENTORIES...............................................................................................75 PROPERTY, PLANT, AND EQUIPMENT......................................................87 BORROWING COSTS.................................................................................105 GOVERNMENT GRANTS ...........................................................................113 NON-CURRENT ASSETS HELD FOR SALE ..............................................123 INVESTMENT PROPERTY .........................................................................133 INTANGIBLES .............................................................................................145 IMPAIRMENT ..............................................................................................159 PROVISIONS AND CONTINGENCIES .......................................................171 TAXATION...........................................
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...international financial reporting standards CERTIFICATE Learning materiaLs Contents FINANCIAL REPORTING CONTEXT..............................................................3 THE IFRS FRAMEWORK ..............................................................................17 PRESENTATION OF FINANCIAL STATEMENTS ........................................35 ACCOUNTING POLICIES .............................................................................49 REVENUE......................................................................................................61 INVENTORIES...............................................................................................75 PROPERTY, PLANT, AND EQUIPMENT......................................................87 BORROWING COSTS.................................................................................105 GOVERNMENT GRANTS ...........................................................................113 NON-CURRENT ASSETS HELD FOR SALE ..............................................123 INVESTMENT PROPERTY .........................................................................133 INTANGIBLES .............................................................................................145 IMPAIRMENT ..............................................................................................159 PROVISIONS AND CONTINGENCIES .......................................................171 TAXATION...........................................
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...Companion Website at www.pearsoned.co.uk/atrillmclaney to find valuable student learning material including: G G G G G Self assessment questions to test your learning A study guide to aid self-learning Revision questions and exercises to help you check your understanding Extensive links to valuable resources on the web Comments on case studies to aid interpretative and analytical skills We work with leading authors to develop the strongest educational materials in accounting, bringing cutting-edge thinking and best learning practice to a global market. Under a range of well-known imprints, including Financial Times Prentice Hall, we craft high-quality print and electronic publications which help readers to understand and apply their content, whether studying or at work. To find out more about the complete range of our publishing, please visit us on the World Wide Web at: www.pearsoned.co.uk 6th Edition Financial Accounting for Decision Makers Peter Atrill and Eddie McLaney Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk Second edition published 1999 by Prentice Hall Europe Third edition published 2002 by Pearson Education Limited Fourth edition 2005 Fifth edition 2008 Sixth edition 2011 © Prentice Hall Europe 1996, 1999 © Pearson Education Limited 2002, 2011 The rights of Peter Atrill and Eddie McLaney to be identified...
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