Куницына СТАНДАРТЫ ФИНАНСОВОЙ ОТЧЕТНОСТИ В КОРПОРАТИВНОМ БИЗНЕСЕ УЧЕБНОЕ ПОСОБИЕ (на английском языке) Направление подготовки 38.04.08 – Финансы и кредит Магистерская программа «Корпоративные финансы» Магистратура N. N. Kunitsyna STANDARDS OF FINANCIAL REPORTING IN CORPORATE BUSINESS EDUCATION GUIDANCE (Course lectures) Direction 38.04.08 – Finance and credit Master programme «Corporate finance» Qualification – Master Ставрополь 2017 УДК 336.6(075.8) ББК 65.290–93 я73 К 91 Печатается по решению редакционно-издательского совета Северо-Кавказского федерального университета Рецензенты: д-р экон. наук, доцент А. <...> TECHNIQUE OF THE FINANCIAL STATEMENT CREATION 2.1. <...> INTERNATIONAL FINANCIAL REPORTING STANDARDS AND DISCLOSURE OF INFORMATION 3.1. <...> Tasks of teaching discipline are: a statement of the basic principles of IFRS, determination of their content; studying of the standards of IFRS applicable to the financial organizations; studying of techniques of creation of the financial reporting on IFRS; acquisition of skills of creation of the financial reporting on IFRS; carrying out the analysis of the financial reporting on IFRS; identification of problems and determination of prospects of application by the financial system. <...> This is because nearly all users are making economic decisions, for example: (a) to decide when to buy, hold or sell an equity investment; (b) to assess the accountability of management; (c) to assess the ability of the entity to pay and provide other benefits to its employees; 6 (d) to assess the security for amounts lent to the entity; (e) to determine taxation policies; (f) to determine distributable profits and dividends; (g) to prepare and use national income statistics; (h) to regulate the activities of entities. <...> For example, a complete depiction of a group of assets would include, at a minimum, a description of the nature of the assets in the group, a numerical depiction of all of the assets in the group, and a description of what the numerical depiction represents (for example, original cost, adjusted cost or fair value). <...> The elements directly related to the measurement of financial position in the balance sheet are assets, liabilities and equity. <...> The elements directly related to the measurement of performance in the income statement are income and expenses. <...> The statement of changes in financial position usually reflects income statement elements and changes in balance sheet elements. <...> The presentation of these elements in the balance sheet and the income statement involves <...>
Стандарты_финансовой_отчетности_в_корпоративном_бизнесеSTANDARDS_OF_FINANCIAL_REPORTING_IN_CORPORATE_BUSINESS.pdf
УДК 336.6(075.8)
ББК 65.290–93 я73
К 91
Печатается по решению
редакционно-издательского совета
Северо-Кавказского федерального
университета
Рецензенты:
д-р экон. наук, доцент А. В. Савцова,
д-р экон. наук, профессор Е. И. Костюкова
(Ставропольский государственный аграрный университет),
канд. пед. наук, доцент Н. А. Симонова
Куницына Н. Н.
К 91 Стандарты финансовой отчетности в корпоративном бизнесе:
учебное пособие на англ. яз. – Ставрополь: Изд-во СКФУ, 2017. –
218 c.
Пособие представляет курс лекций, в котором изложены основные
теоретические аспекты дисциплины «Стандарты финансовой отчетности
в корпоративном бизнесе», а также приведен перечень контрольных вопросов.
Предлагаемый материал может быть дополнен выдержками из
законодательных и нормативных документов, инструкций и официальных
писем и носит рекомендательный характер.
Предназначено для использования в учебном процессе при подготовке
магистрантов направления 38.04.08 – Финансы и кредит, а также в
системе переподготовки кадров высшей квалификации.
УДК 336.6(075.8)
ББК 65.290–93 я73
© ФГАОУ ВО «Северо-Кавказский
федеральный университет», 2017
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CONTENT
Introduction……………………………………………………….............. 5
1. THEORETICAL BASES OF IFRS
1.1. Essence of IFRS……………………………………………………...
1.2. The organizations developing IFRS………………………………….
1.3. Elements and structure of IFRS……………………………………...
Control questions for self-examination…………………………………...
2. TECHNIQUE OF THE FINANCIAL STATEMENT CREATION
2.1. Qualitative characteristics of useful financial information…………..
2.1.1. Fundamental qualitative characteristics…………………………...
2.1.2. Enhancing qualitative characteristics……………………………...
2.2. The cost constraint on useful financial reporting…………………….
2.3. The elements of financial statements………………………………...
Control questions for self-examination…………………………………...
3. INTERNATIONAL FINANCIAL REPORTING STANDARDS
AND DISCLOSURE OF INFORMATION
3.1. Recognition of financial statement elements………………………...
3.2. IAS 1 "Presentation of financial statements"………………………...
3.3. IAS 7 "Statement of cash flow"……………………………………...
3.4. IAS 8 "Accounting policies, changes in accounting estimates
and errors"………………………………………………………………...
3.5. IAS 24 "Related party disclosure"…………………………………...
3.6. IAS 10 "Events after the reporting date"…………………………….
Control questions for self-examination…………………………………..
4. INTERNATIONAL FUNDAMENTAL AND PRIVATE
STANDARDS, SPECIAL STANDARDS
4.1. Fundamental standards: IAS 18 "Revenue". IAS 2 "Inventories"…...
4.2. Fundamental standards: IAS 12 "Income taxes".
IAS 19 "Employee benefit". IAS 37 "Provisions, contingent obligations
and contingent assets"…………………………………………………….
4.3. Private standards: IAS 21 "The effects of changes in foreign
exchange rates". IAS 29 "Financial reporting in hyperinflationary
economies"………………………………………………………………..
4.4. Special standards: IFRS 8 "Operating segments". IAS 33 "Earning
per share"………………………………………………………………….
Control questions for self-examination…………………………………...
5. IFRS ON NON-CURRENT ASSETS AND LIABILITIES
5.1. IAS 16 "Property, plant and equipment"……………………………..
5.2. IAS 38 "Intangible assets"…………………………………………...
5.3. IAS 36 "Impairment of asset ". IAS 40 "Investment property"……...
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6
7
8
9
9
9
11
13
13
18
18
23
39
45
50
54
57
59
68
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105
111
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5.4. IAS 17 "Leases". IAS 11 "Construction contracts".
IAS 20 "Accounting for government grants and disclosure
of government assistance"………………………………………………..
5.5. IFRS 5 "Non-current assets held for sale and discontinued
operation"…………………………………………………………………
Control questions for self-examination…………………………………...
6. IFRS ON CONSOLIDATION
6.1. IFRS 3 "Business combination"……………………………………...
6.2. IAS 27 "Separate financial statements"……………………………...
6.3. IAS 28 "Investment in associates and joint ventures"……………….
6.4. IFRS 10 "Consolidated financial statement". IFRS 11 "Joint
arrangement". FRS 12 "Disclosure of interests in other entities"………...
Control questions for self-examination…………………………………...
7. IFRS FOR FINANCIAL INSTRUMENTS
7.1. IAS 32 "Financial instruments: presentation"………………………..
7.2. IAS 39 "Financial instruments: recognition and measurement"……..
7.3. IFRS 7 "Financial instruments: disclosure"………………………….
7.4. IFRS 9 "Financial instruments"……………………………………...
Control questions for self-examination…………………………………...
8. ANALYSIS OF THE ORGANIZATION’S FINANCIAL
REPORTING
8.1. Analysis technique of the financial reporting. Analysis of financial
instruments. Analysis of the equity. Income-expenditure analysis.
Analysis of the cash flow statement………………………………………
8.2. Benefits of using the IFRS…………………………………………...
Control questions for self-examination…………………………………...
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141
144
145
152
154
157
168
170
174
178
180
186
188
197
198
Glossary…………………………………………………………………... 199
Rreferences……………………………………………………………….. 215
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Introduction
The purpose of teaching discipline is forming of a set of common cultural
(CCC-3), general-professional (GPC-1) and professional (PC-1) competences
of master in the 38.04.08 "Finance and credit".
Tasks of teaching discipline are: a statement of the basic principles of
IFRS, determination of their content; studying of the standards of IFRS applicable
to the financial organizations; studying of techniques of creation of the
financial reporting on IFRS; acquisition of skills of creation of the financial
reporting on IFRS; carrying out the analysis of the financial reporting on IFRS;
identification of problems and determination of prospects of application by the
financial system.
Studying of discipline provides implementation of requirements of the
Federal state educational standard in questions: reasons for the main directions
of creation and analysis of the financial reporting, sequence and interrelation
of their carrying out; possess acceptances of accounting and creation of the
reporting according to the Russian rules and international standards; analysis
of results of activities of the commercial organization; estimates of its financial
condition.
The discipline "Standards of financial reporting in corporate business"
belongs to disciplines at the basis part, obligatory disciplines. Its development
happens in the 3rd term.
Successful studying of discipline "Standards of financial reporting in corporate
business" is provided with disciplines, including their main sections on
which the statement and studying of discipline will rely disciplines: "Financial
controlling", "Financial analysis", "Business value assessment", "Financial designing
and innovations in financial management", "Budgeting methodology".
Successful studying of discipline "Standards of financial reporting in corporate
business" provides timely and high-quality preparation for Final state
interdisciplinary exam and writing of master's thesis.
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