FSs Flashcards
What happens with PPE?
Non-current asset in SOFP
What happens with Revaluation reserve?
Equity in SOFP
What happens with depreciation?
In SOPLOCI under operating expenses
What happens with carrying value on FSs (Historic cost - revaluation)?
Gain in OCI
What happens with impairment
In SOPLOCI under operating expenses
What happens with capitalised Interest?
Put in SOFP
What happens with expensed Interest?
Put in SOPL
What happens with finance cost?
Listed as finance cost or interest expense in SOPL under operating expenses
What happens with investement income?
In SOPL under non-operating expenses
What happens with investement property?
In SOFP under non-current assets
What happens with research expenditure?
Charged as an expense in SOPL
What happens with development expenditure non-PIRATE?
Expense in SOPL
What happens with development expenditure PIRATE?
An intangible asset
What happens with deferred income?
Liability in SOFP
What happens with grant income?
SOPL in operating revenues
