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include and where- use to
help eg with format of notes
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pg
• Some accounting firms offer model reports these on web site
• Make sure considering ‘new’ AASB’s- very few companies will have
used Sept 2007 of AASB 101 (Telstra is one company that has
early adopted the revised AASB 101)
• DO not simply repeat all disclosures in these examples etc as we
are applying a limited number of standards
– If you do this you will fail
Statements: Requirements
• Statement of Financial Position
– Only those required on face to be shown
on face
• EXCEPT for ‘Retained earnings’ & ‘other
reserves’ MUST be shown separately on face
• With all others IF choice to show detail on face
or notes must show in notes
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or notes must show in notes
• Look at AASB 101 carefully
– E.g. But consider if need all of minimum sub-
headings
– Comparative column required but no
amounts6
Statements: Requirements
Statement of Comprehensive Income p
– Only those required on face to be shown
on face
• So IF choice to show detail on face or notes
must show in notes
• Eg. AASB 101 allows Analysis of expenses to
be shown on face or in notes – in assignment
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be shown on face or in notes in assignment
MUST put in notes
• Look at AASB 101
– But consider if need all sub-headings
– Consider if need additional (eg. other income if have
this as well as revenue) – look at advice re help for
determining if revenue vs other income
Statements: Requirements
Statement of Comprehensive Income
– You must use 1 statement format
– There will be NO items of ‘other
comprehensive income’
12Assignment代写
• So include line item but with zero balance
– Have a look at topic review question
– Comparative column required but no
amounts7
Statements: Requirements
• Statement of changes in equity
– Only include on face those required to be
included on the face
– All other disclosures must be in notes if
choice allowed
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– What format should I use?
• Options here – refer to text, FAQ and topic
review answers
Requirements: Notes
• Look at requirements in AASB 101 • Look at requirements in AASB 101
– paras 112-116 re basic format of notes etc
• When justifying notes do not use these paragraphs as
these are general content and format of notes and do not
relate to specific information
– E.g. If relevant must link by cross reference to
statements
– Other note disclosures in AASB 101
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• Will also be affected by other standards in topics
1 to 5
– Eg. AASB 137, AASB 110, AASB 1088
Notes – UIB
Iltit ht • In relation to each note:
• Where the accounting standards indicate that a note is required but all of
the information required to be disclosed is not available from the case
study information, students need to either ‘make up’ the information, or
indicate the specific information that needs to be included if the information
were available.
• students are required to identify which standard/s has been applied in
including the specific note, and record both the standard and relevant
paragraph against the information provided in each note to justify the
inclusion of the information (see example below)
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