BÀI GIẢNG kế TOÁN QUỐC tế chapter 20 preparation of financial statements for companies

Chapter 20
PREPARATION OF FINANCIAL
STATEMENTS FOR COMPANIES


Learning Objectives
1. IAS 1
2. IAS 18

2


IAS 1

3


IAS 1

4


IAS 1

5


IAS 1

6

IAS 1

7


IAS 18
IAS18 Revenue
Recognition
Recognition

Recognition
Recognitionoccurs
occurs
when
whenititis
isprobable
probable
that
thatfuture
future
economic
economicbenefits
benefits
will
willflow
flowto
tothe
theentity
entity

and
andwhen
whenthese
these
benefits
benefitscan
canbe
be
measured
measuredreliably.
reliably.

IAS18 covers revenue
from
• Sale of goods
• Rendering of services
• Use by others of
entity assets yielding
interest, royalties and
dividends

Measurement
Measurement

The
Theamount
amountof
ofrevenue
revenue
is

isusually
usuallydecided
decidedby
bythe
the
agreement
agreementof
ofbuyer
buyerand
and
seller.
seller.However,
However,the
the
revenue
revenueis
ismeasured
measuredas
as
the
thefair
fairvalue
valueof
ofthe
the
consideration
considerationreceived,
received,
i.e
i.eafter

aftertrade
tradeand
andbulk
bulk
discounts.
discounts.

8