By Abbas A. Mirza
Wiley foreign monetary Reporting Trends presents copious examples of footnote disclosures and fiscal assertion codecs, rigorously culled from the world's prime foreign businesses ("Global 500") which are already compliant with IFRS and file less than IFRS criteria promulgated through the overseas Accounting criteria Board, the IASB. prepared topically, this publication is a short resource of connection with locate solutions to problems with curiosity to financial plan preparers. It offers enormous quantities of illustrations taken from monetary statements ready lower than IFRS by way of international conglomerates thereby supporting preparers and clients of economic statements to expeditiously receive examples of footnote disclosures and monetary statements awarded lower than those criteria that are popularly often called "principles-based" criteria (as against "rules-based" standards). also, Wiley International monetary Reporting Trends comprises comparisons of IFRS to US GAAP, Indian GAAP, and chinese language GAAP, making it a very worldwide reference resource.
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Additional resources for Wiley International Trends in Financial Reporting under IFRS: Including Comparisons with US GAAP, Chinese GAAP, and Indian GAAP
Sample text
The company adopted the revised standard as of 1 January 2010 with no material effect on its financial result or financial position. Amendments to IFRIC 14 IAS 19 The limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction Amendments to IFRIC14 IAS 19 The limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction removes unintended consequences arising from the treatment of prepayments where there is a minimum funding requirement. These amendments result in prepayments of contributions in certain circumstances being recognized as an asset rather than an expense.
Liabilities Total - - - - - 35 - 35 321 307 2 15 3 13 - 89 - 11 - 228 - - 228 334 422 5 - 702 2 - - - 1,145 - - 1,147 702 - 60 - - - - - 60 630 193 973 15 89 11 1,408 - 193 3,126 - - - - - - 318 318 475 - - 3 - - - - 861 478 861 - 555 - - - - - 555 - 67 - - - - - 67 - 238 - 5 4 - - - 445 73 238 450 77 - - - - - - 4 4 475 860 12 - - - 1,701 3,048 Liabilities under insurance contracts are recognised at the present value of expected insurance benefits. The interest rate risk on fixed-rate financial assets and liabilities is hedged by derivatives (fair value hedging).
Amended IAS 27 Consolidated and Separate Financial Statements (2008) Amended IAS 27 Consolidated and Separate Financial Statements (2008) requires accounting for changes in ownership interests by AB InBev in a subsidiary, while maintaining control, to be recognized as an equity transaction. When Presentation of Financial Statements (IAS 1) 23 AB InBev loses control of a subsidiary, any interest retained in the former subsidiary will be measured at fair value with the gain or loss recognized in profit or loss.
