Conceptual Framework

Liz Barraclough
Mind Map by Liz Barraclough, updated more than 1 year ago
Liz Barraclough
Created by Liz Barraclough about 5 years ago
109
5

Description

A mind map designed for AAT4 Financial Statements unit showing all the International Accounting Standards required by the syllabus

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
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