Changes for periods after 1 Jan 13
IAS 19 employee benefits including holiday payIFRS13 Increased disclosure where fair value accounting used
IAS 27 separate financial statements
IAS 28 investments in assocs and jvs
IFRS 10 consol fin statements. Vodafone is good example of explaining valuation methods
IFRS 11 joint arrangements - looks at control to define ownership
IAS 8 para 28 about new standards adopted this period and effect
Para 30 where has not applied yet but adoption in future will affect accounts
Highlight areas requiring significant estimate or judgement
Capitalise if have right to control use of the asset.
Capitalise fair value at acquisition then depreciate
Note that leased asset are to be shown separately from owned assets
Options to renew only taken account of if there is significant financial incentive to extend (but this could be just the moving costs?)
IFRS 15 Revenue from contacts with customers. Examples Vodafone and Arm Holdings
To do:
Read up on FRS 102 uk gaap revised in Aug 14 effective for SMEs from 2016; info on FRC website. Staff eduction notes SEN prefix.
New std on lease accounting
Where it says early adoption permitted - remember needs to be ratified by EU first.


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