2008304
Mind Map by Liz Barraclough, updated more than 1 year ago
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Created by Liz Barraclough
about 5 years ago
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Description
Resource summary
Conceptual Framework
1 Statements
1.1 Statement of profit or loss and other comprehensive
income
1.2 Statement of Financial
Position
1.3 Statement of Cash
Flows
1.4 Statement of Changes in
Equity
2 Concepts
2.1 Accruals
2.2 Materiality
2.3 Going Concern
2.4 Entity
2.4.1 Single entity
2.4.2 Group
2.4.2.1 IFRS 3 Business
Combinations
2.4.2.2 IFRS 10 Consolidated Financial
Statements
3 Qualitative Characterstics
3.1 Relevance
3.2 Faithful representation
3.3 Comparability
3.4 verifiability
3.5 timeliness
3.6 understandability
4 External
Users
4.1 Investors
4.2 Potential Investors
4.3 Lenders
4.4 Suppliers and other trade payables
4.5 Customers
4.6 Government
4.7 Government
Agency
4.8 The general
public
5 Objective
5.1 Elements
5.1.1 Assets
5.1.1.1 Current
5.1.1.1.1 IAS 7 cash
flows
5.1.1.1.2 IAS 2 Inventories
5.1.1.2 Non-current
5.1.1.2.1 IAS 38 Intangible
Assets
5.1.1.2.2 IAS 16 P,P,E
5.1.1.2.3 IAS 36 Impairment of Assets
5.1.1.2.4 IAS 17
Leases
5.1.1.2.4.1 Finance Lease
5.1.1.2.4.1.1 In SFP
5.1.1.2.4.1.1.1 Asset
5.1.1.2.4.1.1.2 and Liability
5.1.1.2.4.2 Operating Lease
5.1.1.2.4.2.1 In SOCI
5.1.2 Liabilities
5.1.2.1 IAS 10 Events after the reporting period
5.1.2.1.1 Adjusting
5.1.2.1.2 Non adjusting
5.1.2.2 IAS 37 Provisions, contingent liabilities, contingent assets
5.1.2.2.1 Probable
5.1.2.2.2 Possible
5.1.2.2.3 Remote
5.1.2.3 IAS 12 Income Taxes
5.1.3 Equity
5.1.4 Income
5.1.4.1 IAS 18 Revenue
5.1.5 Expenses
5.2 Accounting Equation
5.2.1 Assets minus liabilities = equity