FR Study Flashcards
Basic EPS calculation
Only IFRS - IAS 33
Basic: Income avail to SH / WACSO
Income avail: Income less dividends declared/paid
WACSO: Weighted avg common share o/s, # of share weighted by the days o/s
Diluted EPS calculation
Diluted: Income avail to SH / PCS
Income avail: Income less dividends declared/paid
PCS: potential common shares, # of shares when options exercised
ASPE - Rev Rec process
ASPE 3400
1) Define issue
2) ID components
3) Recog: collection assured, performance achieved, assurance of revenue
4) Conclude
IFRS - Rev Rec Process
IFRS 15
5 steps
1) ID contract
2) ID perf obligations
3) Determine trxn price
4) Allocate trxn price
5) Determine when perf obligations satisfied.
ASPE - Government Grant process
ASPE 3800 / IAS 20.7
Conclude if requirements satisfied
Cap or non-cap?
Cap: deduct from asset or deferred and amortize
Non-cap: Expense or defer on basis of expenses
ASPE/IFRS - General procedure for accounting for an investment
Type of investment (look at control, influence)
Methods to record (use handbook)
Explain method and impact
Conclude on if a financial instrument or an investment
ASNPO - Rev Rec
ASPE 4410
Method: Restricted fund or deferral
Type of contribution: restricted, endowment, or unrestricted
Fair value measurement.