aconceptualframeworkforfinancialreporting-資料下載頁(yè)
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【導(dǎo)讀】由互相關(guān)聯(lián)的目標(biāo)和基本概念所組成的邏輯一致。和局限性做出規(guī)定。
【正文】 inflation) – Ignore the effect of rising prices on moary items – profits are overstated (match historical cost with current revenue, inflation). If profits were distributed in full, the level of operations would have to be curtailed. – ROCE is overstated – Less parability Example 5, p184 Constant purchasing power accounting ? Moary items – already stated at current purchasing power, and no adjustment is required. – Gain or loss on purchasing power ? Nonmoary items – uplift to reflect price level at the reporting date (CPP units). ? Residual figure – neither a moary or a nonmoary item 34 ? Advantage – simple and objective – a true system of inflation accounting – measure the impact on the pany in terms of shareholders’ purchasing power ? Disadvantage – fail to capture specific and general price divergences – CPP currency units can be unfamiliar – does not show current value of assets and liabilities – physical capital is not maintained 35 Current cost accounting ? Moary items – no adjustment is required. ? Nonmoary items – Based on deprival value or value to business ? Cost of sales adjustment – takes the realised holding gain element out of profit ? Depreciation adjustment ? charges the CC depreciation on the yearend (or average) CC to ine statement in order to enable the replacement of the asset. 36 ? Advantage – relevant to real world business decisions – able to assess the current state or recent performance of the business – better parison between entities. – PCM ? assets are shown at their current value to the business ? Realised holding gains are eliminated from profit 37 ? Disadvantage – increased subjectivity is involved in valuations – unfamiliarity – plexity – only adjust values for nonmoary assets – practical problems 38 Fair presentation (true and fair view) ? Need the financial statements to conform with – Accounting standards – Any relevant legal requirements – Qualitative characteristics from the Framework ? It constitutes more than pliance with accounting standards. – If the management conclude that pliance with accounting standards would be misleading, an entity should depart from accounting standards provided the relevant regulatory framework permits such departure. 39 ? When standards are departed, disclose – Financial statements do give a fair presentation – Other standards are plied except those departed – Standards departed and an explanation of the circumstances – Financial impact of the departure 40
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