http://909084807.qzone.qq.com Thu, 26 Nov 2009 13:46:37 GMT Qzone zh-cn Copyright (C), 2005-2008, Tencent Tech. Co., Ltd. Thu, 18 Jun 2009 10:23:33 GMT http://909084807.qzone.qq.com/blog/1245320613 In respect of its interests in jointly controlled operations, a venturer shall recognise in its financial statements:
(a) the assets that it controls and the liabilities that it incurs; and
(b) the expenses that it incurs and its share of the income that it earns from
the sale of goods or services by the joint venture.

Different reporting formats may be used to give effect to proportionate consolidation.
1) The venturer may combine its share of each of the assets, liabilities, income and expenses of the jointly controlled entity with the similar items, line by line, in its financial statements. For example, it may combine its share of the jointly controlled entity’s inventory with its inventory and its share of the jointly controlled entity’s property, plant and equipment with its property, plant and equipment.
2) Alternatively, the venturer may include separate line items for its share of the assets, liabilities, income and expenses of the jointly controlled entity in its financial statements. For example, it may show its share of a current asset of the jointly controlled entity separately as part of its current assets; it may show its share of the property, plant and equipment of the jointly controlled entity separately as part of its property, plant and equipment. Both these reporting formats result in the reporting of identical amounts of profit or loss and of each major classification of assets, liabilities, income and expenses; both formats are acceptable for the purposes of this Standard.

A venturer shall discontinue the use of proportionate consolidation from the date on which it ceases to have joint control over a
jointly controlled entity.

As an alternative to proportionate consolidation described in paragraph 30, a venturer shall recognise its interest in a jointly controlled entity using the equity method.

Some venturers recognise their interests in jointly controlled entities using the equity method, as described in IAS 28. The use of the equity
method is supported by those who argue that it is inappropriate to combine controlled items with jointly controlled items and by
those who believe that venturers have significant influence, rather than joint control, in a jointly controlled entity. This Standard does not recommend the use of the equity method because proportionate consolidation better reflects the substance and economic reality of a venturer’s interest in a jointly controlled entity, that is to say, control over the venturer’s share of the future economic benefits. Nevertheless, this Standard permits the use of the equity method, as an alternative treatment, when recognising interests in jointly controlled entities.

A venturer shall discontinue the use of the equity method from the date on which it ceases to have joint control over, or have significant influence in, a jointly controlled entity.

When an interest in a jointly controlled entity previously classified as held for sale no longer meets the criteria to be so classified, it shall be accounted for using proportionate consolidation or the equity method as from the date of its classification as held for sale. Financial statements for the periods since classification as held for sale shall be amended accordingly.

When an investor ceases to have joint control over an entity, it shall account for
any remaining investment in accordance with IAS 39 from that date, provided that
the former jointly controlled entity does not become a subsidiary or associate.
From the date when a jointly controlled entity becomes a subsidiary of an
investor, the investor shall account for its interest in accordance with IAS 27 and
IFRS 3 Business Combinations (as revised in 2008). From the date when a jointly
controlled entity becomes an associate of an investor, the investor shall account
for its interest in accordance with IAS 28. On the loss of joint control, the investor
shall measure at fair value any investment the investor retains in the former
jointly controlled entity. The investor shall recognise in profit or loss any difference
between:
(a) the fair value of any retained investment and any proceeds from disposing
of the part interest in the jointly controlled entity; and
(b) the carrying amount of the investment at the date when joint control is
lost.


]]> http://909084807.qzone.qq.com/blog/1245320613#comment 134218240 Thu, 18 Jun 2009 10:23:33 GMT http://909084807.qzone.qq.com/blog/1245320613 http://909084807.qzone.qq.com/blog/1244628889 the amount of the write-down can be reversed ;
A new assessment is made of net realisable value in each subsequent period. When the circumstances that previously caused inventories to be written down below cost no longer exist or when there is clear evidence of an increase in net realisable value because of changed economic circumstances, the amount of the
write-down is reversed (ie the reversal is limited to the amount of the original
write-down) so that the new carrying amount is the lower of the cost and the
revised net realisable value. This occurs, for example, when an item of inventory
that is carried at net realisable value, because its selling price has declined, is still
on hand in a subsequent period and its selling price has increased.

An impairment loss recognised in prior periods for an asset other than goodwill shall be reversed if, and only if, there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognised. If this is the case, the carrying amount of the asset shall, except as described in paragraph 117, be increased to its recoverable amount. That increase is a reversal of an impairment loss.
]]> http://909084807.qzone.qq.com/blog/1244628889#comment 134218240 Wed, 10 Jun 2009 10:14:49 GMT http://909084807.qzone.qq.com/blog/1244628889 http://909084807.qzone.qq.com/blog/1244601932 Definition：

The equity method is a method of accounting whereby an interest in a jointly controlled entity is initially recorded at cost and adjusted thereafter for the post-acquisition change in the venturer’s share of net assets of the jointly
controlled entity. The profit or loss of the venturer includes the venturer’s share of the profit or loss of the jointly controlled entity.

Adjustment of initial measurement ？？



]]> http://909084807.qzone.qq.com/blog/1244601932#comment 134218240 Wed, 10 Jun 2009 02:45:32 GMT http://909084807.qzone.qq.com/blog/1244601932 http://909084807.qzone.qq.com/blog/1244450385 This Standard shall also be applied in accounting for investments in subsidiaries,jointly controlled entities and associates when an entity elects,
or is required by local regulations, to present separate financial statements.


When separate financial statements are prepared, investments in subsidiaries,
jointly controlled entities and associates that are not classified as held for sale
(or included in a disposal group that is classified as held for sale) in accordance
with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations shall be
accounted for either:
(a) at cost, or
(b) in accordance with IAS 39.


The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of net assets of the investee. The profit or loss of the investor includes the investor’s share of the profit or loss of the investee.



This Standard shall be applied in the preparation and presentation of consolidated financial statements for a group of entities under the control of a parent.
Consolidated financial statements shall include all subsidiaries of the parent.


Investment
under common control I non-common control
Subsidary -------------企业合并--------------母公司的separate financial statement: ______________ I _______________
------------------企业合并-----------合并会计报表 ___________________ I ________________


Assoaciate - -------------------------------------- investor的separate financial statement:


Joint venture-----------------------------------------investor的separate financial statement:



Consideration：
1）
Although the equity method would provide users with some profit and loss
information similar to that obtained from consolidation, the Board noted that
such information is reflected in the investor’s economic entity financial
statements and does not need to be provided to the users of its separate financial
statements. For separate statements, the focus is upon the performance of the
assets as investments. The Board concluded that separate financial statements
prepared using either the fair value method in accordance with IAS 39 or the cost
method would be relevant. Using the fair value method in accordance with IAS 39
would provide a measure of the economic value of the investments. Using the
cost method can result in relevant information, depending on the purpose of
preparing the separate financial statements. For example, they may be needed
only by particular parties to determine the dividend income from subsidiaries.


2）






]]> http://909084807.qzone.qq.com/blog/1244450385#comment 134218240 Mon, 08 Jun 2009 08:39:45 GMT http://909084807.qzone.qq.com/blog/1244450385 http://909084807.qzone.qq.com/blog/1244447885 1）cost method ----
2）available for sale --
3）equity method ----

子母公司有合并财务报表，因此，在合并财务报表中
在parent的seperate FS 中可以采取 cost method ]]> http://909084807.qzone.qq.com/blog/1244447885#comment 134218240 Mon, 08 Jun 2009 07:58:05 GMT http://909084807.qzone.qq.com/blog/1244447885 http://909084807.qzone.qq.com/blog/1244445997 判断标准：同时符合下列条件：

1 持有目的 - 为“控制、共同控制、重大影响”

从证券市场购入的准备长期持有的股票，如果没有重大影响，而在新准则中，不作为长期股权投资，而是作为可供出售的金融资产。

2 持有期限 -- 为长期持有。。
Exemption from applying the equity method
The Standard does not require the equity method to be applied when an associate is acquired and held with a view to its disposal within twelve
months of acquisition. There must be evidence that the investment is acquired with the intention to dispose of it and that management is
actively seeking a buyer. （还是持有的目的--- 是held for sale）



要考虑持有的目的和意图，只要持有的目的是为了控制、共同控制或重大影响，不管有没有报价，就要作为长期股权投资来计量，而不是作为金融工具。
]]> http://909084807.qzone.qq.com/blog/1244445997#comment 134218240 Mon, 08 Jun 2009 07:26:37 GMT http://909084807.qzone.qq.com/blog/1244445997 http://909084807.qzone.qq.com/blog/1244427734
Formations of a joint venture or the acquisition of an asset or a group of assets that does not constitute a business are not business
combinations.


IFRS defines a business combination as a transaction or other event in which an acquirer obtains control of one or more businesses. An acquirer might obtain control of an acquiree in a variety of ways.

Acquirer
Acquiree
A ----------------------------------------------------→ B ( Business)

判断business combination
1) acquiree 为 business
2）control

]]> http://909084807.qzone.qq.com/blog/1244427734#comment 134218240 Mon, 08 Jun 2009 02:22:14 GMT http://909084807.qzone.qq.com/blog/1244427734 http://909084807.qzone.qq.com/blog/1244187743 1. Assertion-Based Assurance Engagements
Financial Statement Audit Engagements
* the members of the assurance team, the firm and network firms are required to be independent of the financial statement audit client

Other Assertion-Based Assurance Engagements
* the members of the assurance team and the firm are required to be independent of the assurance client (the responsible party, which is responsiblefor the subject matter information and may be responsible for the subject matter).
* where the responsible party is responsible for the subject matter information but not the subject matter , the members of the assurance team and the firm are required to be independent of the party responsible for the subject matter information (the assurance client). In addition, consideration should be given to any threats the firm has reason to believe may be created by interests and relationships between a member of the assurance team, the firm, a network firm and the party responsible for the subject matter.

A ____________B ---------------C
I________________________I

2 .Direct Reporting Assurance Engagements
* the members of the assurance team and the firm are required to be independent of the assurance client (the party responsible for the subject matter)


Definition
1.the subject matter (eg.the financial position, financial performance and cash flows;
2.the subject matter information (eg.the financial statements);

]]> http://909084807.qzone.qq.com/blog/1244187743#comment 142606848 Fri, 05 Jun 2009 07:42:23 GMT http://909084807.qzone.qq.com/blog/1244187743 http://909084807.qzone.qq.com/blog/1244174696 a professional account act in the public interest,

Professional accountant in business
* A professional accountant employed or engaged in...edution, non-profitorgization, commerce, industry,.............

Professional accountant in public practice
* A professional accountant, irrespective of functional classification (e.g., audit, tax or consulting) in a firm that provides professional services. This term is also used to refer to a firm of professional accountants in public practice.

Assurance Engagement:
*An engagement in which a professional accountant in public practice expresses a conclusion designed to enhance the degree of confidence of the intended users (other than the responsible party) about the outcome of the evaluation or measurement of a subject matter against criteria.

Assurance engagements may be assertion-based (对measurement 或evaluation发表判定意见）or direct reporting（从事measurement 或evaluation）. In either case they involve three separate parties: a public accountant in public practice,a responsible party and intended users.
1)In an assertion-based assurance engagement, which includes a financial statement audit engagement,the evaluation or measurement of the subject matter is performed by the responsible party, and the subject matter information is in the form of an assertion by the responsible party that is made available to the intended users.
eg. auditing
2)In a direct reporting assurance engagement the professional accountant in public practice either directly performs the evaluation or measurement of the subject matter, or obtains a representation from the responsible party that has performed the evaluation or measurement that is not available to the intended users. The subject matter information is provided to the intended users in the assurance report.
eg. advisory.taxation




]]> http://909084807.qzone.qq.com/blog/1244174696#comment 142606848 Fri, 05 Jun 2009 04:04:56 GMT http://909084807.qzone.qq.com/blog/1244174696 http://909084807.qzone.qq.com/blog/1244087421 After initial recognition, inventories are measured
--> at the lower of cost or net realisable value (NRV).

After initial recognition,
--> property, plant and equipment are measured using one of the following methods:
--> cost model or revaluation model. U.S. GAAP:
After initial recognition, property, plant and equipment are measured
--> using cost model.
Impairment test should be applied:
(a) on acquisition to goodwill and intangible assets acquired (in business combinations);
(b) to all other assets, for annual periods


]]> http://909084807.qzone.qq.com/blog/1244087421#comment 134218241 Thu, 04 Jun 2009 03:50:21 GMT http://909084807.qzone.qq.com/blog/1244087421