HD EDU

HD EDU

ACCT 90002

常⻅ accounting standards

TUTOR: Quincy

HD EDU

AASB 137 Provisions, Contingent Liabilities and Contingent Assets

内容: provision, contingent liability 和 contingent asset 的处理⽅式相关内容: T/R & T/P 的

recognition

Provision

Recognition criteria

1. Present obligation

a) Legal

b) Constructive (formal written plan & create valid expectation)

2. Probable future economic benefit outflows

3. Measured reliably

a) Single event: best estimate

b) Large population: expected value (estimation of probability & amount)

FEB Asset Liability

Virtually certain T/R T/P

Probable Disclose (Contingent asset) Provision (对应科⽬⼀般是 expense)

Possible No action Disclose (Contingent liability)

Remote No action No action

*虽然⾦额可能⼀样, 但是不能直接在同⼀张报表上直接抵掉

常⻅问题:

(1) 对于 T/R ⽽⾔, 不是 virtually certain 但是还是记成了 T/R

w 处理⽅式: 计提 Credit loss expense

w Dr: Credit loss expense, Cr: Reserve for losses on credit sales

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Stage Impairment Interest revenue

One:

Credit risk has not increased

significantly since initial

recognition

Recognise 12 month expected credit losses (ECL)

(i.e. portion of ‘lifetime expected credit losses’ resulting from

default events that are possible within 12 months of reporting

date)

Calculated based on the gross amount of the asset

(i.e. before credit losses have been taken into

account)

Two:

Credit risk has increased

significantly since initial

recognition

Recognise lifetime expected credit losses (ECL)

(i.e. expected credit losses resulting from all possible default

events over the life of the instrument)

Calculated based on the gross amount of the asset

(i.e. before credit losses have been taken into

account)

Three:

There is objective evidence of

impairment as at the reporting

date (using the criteria currently

included in IAS 39)

Recognise lifetime expected credit losses (ECL)

(i.e. expected credit losses resulting from all possible default

events over the life of the instrument)

Based on the net amount of the asset (i.e. after credit

losses have been taken into account)

HD EDU

(2) 其 future economic benefit outflow/inflow 的 uncertainty 和对应计提的科⽬不⼀致

w 如果即使改完了还应该!现在报表上→Reverse & Restate

w 如果改完了变成了 disclose/no action→Reverse

AASB 138 Intangible asset

General concept

Research

Initial investigation of technical knowledge

Chance of success→Low

全部费⽤化

Development

Application of existing knowledge

Chance of success→High

资本化的条件: PIRATE (海盗条件)

PIRATE

w Probable future economic benefit inflows

ü Market research, sales forecast, actual sales after year end…

w Intention to complete or sell

ü Mgt meeting record, mgt representation

w Resource to complete or sell

ü Financial: cash balance? Gearing ratio (ability to borrow)? Letter from government

(grant)?

ü Technical: R&D staff, equipment

w Ability to use/sell

ü Licence from government, Sales forecast, actual sales after year end

w Technical feasibility

ü Licence from government

ü Test result

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w Expenditure can be measured reliably

ü Initial (DL, DM, MOH, test fee)

ü Subsequent (Useful life: finite? Indefinite?)

常⻅问题: 不满⾜条件但还是资本化了→Overstate asset, overstate expense

AASB 102 Inventory

主要 issue: Valuation

General: Lower of NRV and cost

Cost

Trading inventory: supplier quote

Manufactured inventory

DM

DL

MOH

WIP: percentage of completion

NRV: net realized value → sell price – cost of sales

Subsequent measurement

FIFO, LIFO, Weighted average

*Inventory 也可能会存在 impairment,

即需要 write-off ⽆法再进⾏售卖的存货

w ⼀般记法: DR-loss on inventory write-off, CR-inventory

AASB 2 Share-based payment

(a) Equity-settled share-based payment transactions

w The entity receives goods or services as consideration for equity instruments of the

entity (including shares or share options

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