Test Bank for Applying IFRS Standards 4th Edition By Ruth Picker Kerry Clark John Dunn David Kolitz Gilad Livne Janice Loftus Leo van der Tas (All Chapters, 100 Original Verified, A+ Grade) 3

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John Wiley & Sons, Ltd 2016
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, Chapterv1v ThevIASBvandvitsvConceptualvFramework


CHAPTERv1

ThevIASBvandvitsvConceptualvFramework


LearningvObjectives

1.1 DescribevthevorganisationalvstructurevofvthevkeyvplayersvinvsettingvInternationalvFinancialv
ReportingvStandardsv(IFRSs)

1.2 Describevthevpurposevofvavconceptualvframeworkv–vwhovusesvitv andvwhy

1.3 Explainvthevqualitativevcharacteristicsvthatvmakevinformationvinvfinancialvstatementsv
useful

1.4 Discussvthevgoingvconcernvassumptionvunderlyingvthevpreparationvofvfinancialvstatements

1.5 Definevthevbasicvelementsvinvfinancialvstatementsv–
vassets,vliabilities,v equity,v incomevandv
expenses

1.6 Explainvthevprinciplesvforvrecognisingvthevelementsvofvfinancialvstatements

1.7 Distinguishvbetweenvalternativevbasesvforvmeasuringvthevelementsvofvfinancialv
statements

1.8 Outlinevconceptsvofvcapital.




©vJohnvWileyv&vSons,vLtdv2016 1.2