资源描述：
《Understanding Australian Accounting Standards 3E - Loftus - SMch19_sm_loftus》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、Chapter19FinancialStatementPresentationSolutionsManualtoaccompanyUnderstandingAustralianAccountingStandardsByJaniceLoftus,KenLeo,RuthPicker,VictoriaWiseandKerryClarkPreparedbyJaniceLoftusJohnWiley&SonsAustralia,Ltd201319.35©JohnWileyandSonsAustralia,Ltd2
2、013Chapter19FinancialStatementPresentationDiscussionQuestions1.Discusstheeightoverallconsiderationstobeappliedinthepresentationoffinancialstatements.Ofthese,whicharemoresubjective?Explainyouranswer.Theeightoverallconsiderationsare:1.Fairpresentationandco
3、mpliancewithIFRSs–thatfinancialstatementsshouldbefaithfullyrepresentthetransactions,eventsandconditionsoftheentityinaccordancewiththedefinitionsandrecognitioncriteriaspecifiedintheFramework,andthatcompliancewithIFRSsispresumedtoresultinfairpresentation(A
4、ASB101para.15).2.Goingconcern–thatfinancialstatementsshouldbepreparedonagoingconcernbasis,unlessmanagementintendstoliquidateorceasetrading,orhasnorealisticalternativebuttodoso.3.Accrualbasisofaccounting–appliedtofinancialstatementsotherthanthestatementof
5、cashflows,whichispreparedonacashbasis.4.Consistencyofpresentation–thatthepresentationandclassificationoffinancialstatementsitemsshouldbeconsistentfromoneperiodtothenext,unlesschangesarerequiredbyAccountingStandardsorintheinterestsofmorereliableandrelevan
6、tpresentationoffinancialinformationasmayarisewhenthereisasignificantchangeinthenatureoftheentity’soperations.5.Materialityandaggregation–thateachmaterialclassofsimilaritemsshouldbepresentedseparatelyinthefinancialstatements,withmaterialitemsbeingdefineda
7、sthoseitemsforwhichomissionormisstatementcouldindividuallyorcollectivelyinfluencetheeconomicdecisionsofusers.6.Offsetting–ofassetsandliabilities,andincomeandexpenses,shallnotbeoffsetunlessrequiredorpermittedbyanAustralianAccountingStandard,butincomeandex
8、pensesarepresentedonanetbasis,whenthispresentationreflectsthesubstancesofthetransactionsorevents.7.Frequencyofreporting–thatfinancialstatementsshouldbepresentedatleastannually,withdisclosurewherethelengthofthereportingperi
