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By using this Excel workbook, you are agreeing to the following terms. If you do not agree to the following terms, then you are no immediately terminate such usage.
This workbook summarises the recognition, measurement, presentation and disclosure requirements set out in International Finan June 2012. IFRSs include Standards as issued by the International Accounting Standards Board (IASB) and the former Internation Interpretations as issued by the IFRS Interpretations Committee and the former Standing Interpretations Committee. It may be u the requirements of the IFRSs. It is not a substitute for understanding such pronouncements and seeking the advice of a qualified
You are presumed to have a thorough understanding of the IFRSs and should refer to their text, as necessary, in considering parti workbook are referenced to the applicable sections of the actual IFRSs.
10 action. A "Yes" response does not necessarily result in compliance with IFRSs. 11 IFRSs are constantly changing and this checklist may not be current. 12 13 14
The detailed recognition, measurement, presentation and disclosure points generally require a "Yes", "No" or "N/A" response. Dep
Disclaimer
This website contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related means of this website, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. T advice or services, nor should it be used as a basis for any decision or action that may affect, among other things, your finances, making any decision or taking any action that may affect your finances, your business or your compliance obligations, you should rely upon this website and any use of this website is at the your sole risk. You assume full responsibility and risk of loss resulting Network shall be responsible for any loss whatsoever sustained by any person who relies on this website. By using this website yo Network.
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They may used for informational purposes only. They may be used only for non-commercial purposes. They must include the this notice as well as the Copyright and Disclaimer notices in their entirety.
16 17 Important Excel Macro Programming Warnings 18 entered in the detailed compliance questions associated with the TQ or sub TQ. 19 File Structure 20 The workbook includes several types of worksheets : 21 - READ ME FIRST 22 The "READ ME FIRST" worksheet contains terms of use and important instructions for using this workbook.
Please do not add or delete any rows or columns in the worksheets. Changing or deleting the response to a Tailoring Question (TQ
The "Summary" worksheet contains questions that may be used to summarise the results of this checklist as to whether the recog
26
The "Index" worksheet provides an overview of all IFRS in this checklist. In this index, the user should indicate which IFRSs are a answer has been set to yes and should be changed if the IFRS is not applicable. For all applicable IFRSs, the "Index" worksheet c questionnaires and Presentation and disclosure checklists by standard. If the Accounting compliance questionnaires and Presentat 1 tailoring question, the default answer in the Accounting compliance questionnaire and Presentation and disclosure checklist will b
The "AccountingTQSummary" and "PresentationTQSummary" provide an overview of the answers to the main tailoring questions p
- Accounting compliance questionnaires (IAS/IFRS [standard number]A) and Presentation and disclosure checklists (IAS/IFRS [sta
The "Accounting compliance questionnaires" and the "Presentation and disclosure checklists" by standard contain tailoring and det
30 the recognition, measurement, presentation and disclosure requirements of applicable IFRSs have been met. 31 32 33 34 Colour Coding 35 All worksheets in this workbook follow a standard colour coding.
36 37 38 39 40 41 42 43 44 45
Certain Standards, Amendments and Interpretations are not effective for periods beginning on 1 January 2012. These are indicate application of these requirements is generally permitted (see Standards/Amendments/Interpretations for specific requirements). W Interpretations are applied for periods beginning before their effective dates, that fact is generally required to be disclosed (see sp details).
Dark blue : Main Tailoring Questions Light violet : Sub-Tailoring questions Light green : Guidance Violet : Answer cell
46 Overall Questionnaire Structure 47 Every questionnaire includes five columns 48 - TQ : internal reference for a main tailoring question. 49
- Reference : where the reference to the related paragraph in the Standard, Amendment or Interpretation is indicated.
51 - Yes/No/N/A : Answers. Exclusively Yes, No or N/A. In some cases, an option to select guidance is available. 52 - Comments : To be filled where a discrepancy with the Standard, Amendment or Interpretation is noted. 53 Process
A 54 55
Applicability
Starting from the Index page, the preparer selects by standard the applicability of the standard to the engagement by selecting "Ye
In case of a positive answer (by selecting "Yes" to the standard that is applicable), the questionnaire (Accounting and Presentation
56 workbook. The user will automatically be transferred, by clicking on the link, to the selected questionnaire. 57 Guidance 58
The user can decide whether he/she wants to show or hide the guidance in the questionnaire by selecting one of the options on th questions will not automatically disappear if you answer "yes" or "no" to the question. The guidance on individual questions can the sheet.
59 Compliance 60 The questionnaire is to be filled in the suggested order, that corresponds to the logical flow of the standard. 61 An answer to a tailoring question may lead to sub-tailoring question(s) or to some detailed compliance questions. 62 disclosed just below the question. The preparer then needs to go back to the initial question to answer Yes, No or N/A. 63 The response in an answer cell can be deleted. 64 questions will be cleared automatically. 65 column. 66 AccountingTQSummary and PresentationTQSummary 67
By clicking on the answer cell, the user will be proposed a selection of options (Yes/No/N/A) and sometimes guidance. By selectin
If the response to a tailoring question or sub-tailoring question is cleared, all the associated compliance questions will not be displ
A negative answer to a detailed compliance question indicates, in the majority of the cases, non-compliance with the standard. A
The answers (or the lack of an answer) to the main tailoring questions are automatically copied into the AccountingTQSummary /o the right top of the worksheet). The AccountingTQSummary and PresentationTQSummary worksheets give an overview of the ans provide an overview of non-compliance.
68 Deleted content of cell(s) 69 from a known good file and paste them in the worksheet where the content loss occurred and save the file. 70 71 72
In case the user works with an unprotected version and content is lost, the problem can be corrected as follows: (1) Unhide the ro
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of mem
73
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. W more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they ne Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.
74
A 1 2 3 4 5
Areas of noncompliance The following areas of noncompliance were noted: General
This worksheet may be used to summarise the results of this checklist as to whether the recognition, measurement, presentation and disclosure re
6 7 8 9
Areas requiring further attention The following areas were identified that need further attention:
10 11 12 Areas of change in accounting and presentation and disclosure requirements as compared to prior year:
The following areas were identified that changed as compared to prior year:
13
14 15
nition, measurement, presentation and disclosure requirements of IFRS have been met:
6 7 8
Follow-up:
10 11
13
14 15
A 1
This checklist addresses the measurement and recognition as well as the presentation and disclosur June 2012. Those Standards, Amendments and Interpretations indicated in the checklist by red colo effective but can be early adopted.
Please note that this checklist does not explicitly address the Conceptual Framework for Financial R 3 4 5
Standard
IFRS 1 -First-time Adoption of International Financial Reporting Standards
7 8 9
IFRS 3 -Business Combinations IFRS 4 -Insurance Contracts IFRS 5 -Non-current Assets Held for Sale and Discontinued Operations IFRS 6 -Exploration for and Evaluation of Mineral Resources IFRS 7 -Financial Instruments: Disclosures (entity has not yet adopted IFRS 9) IFRS 7 -Financial Instruments: Disclosures (entity has adopted IFRS 9) [effective 1 January 2015] IFRS 8 -Operating Segments IFRS 9(2009) -Financial Instruments [effective 1 January 2015]
10 11 12 13
14
Note: If you select 'Yes', you must also select 'Yes' to IAS 39 Financial Instruments: Recognition and Measurement below
15
IFRS 9(2010) -Financial Instruments [effective 1 January 2015] IFRS 10 -Consolidated Financial Statements [effective 1 January 2013, in conjunction with adoption of IFRS 11 and IFRS 12 as well as amendments to IAS 27 and IAS 28]
16
A 17
C IFRS 11 -Joint Arrangements [effective 1 January 2013, in conjunction with adoption of IFRS 10 and IFRS 12 as well as amendments to IAS 27 and IAS 28] IFRS 12 -Disclosure of Interests in Other Entities [effective 1 January 2013] IFRS 13 -Fair Value Measurement [effective 1 January 2013]: Consequential amendments must be early adopted when early adopting IFRS 13 IAS 1 -Presentation of Financial Statements IAS 2 -Inventories IAS 7 -Statement of Cash Flows IAS 8 -Accounting Policies, Changes in Accounting Estimates and Errors IAS 10 -Events after the Reporting Period IAS 11 -Construction Contracts IAS 12 -Income Taxes IAS 16 -Property, Plant and Equipment IAS 17 -Leases IAS 18 -Revenue IAS 19 -Employee Benefits IAS 19 -Employee Benefits [effective 1 January 2013] IAS 20 -Accounting for Government Grants and Disclosure of Government Assistance IAS 21 -The Effects of Changes in Foreign Exchange Rates IAS 23 -Borrowing Costs IAS 24 -Related Party Disclosures
18
19 20 21 22 23 24 25 26 27 28 29 30 31 32
33 34 35
A 36
C IAS 26 -Accounting and Reporting by Retirement Benefit Plans IAS 27 -Consolidated and Separate Financial Statements IAS 27 -Separate Financial Statements [effective 1 January 2013, in conjunction with adoption of IFRS 10, IFRS 11 and IFRS 12, as well as amendments to IAS 28] IAS 28 -Investments in Associates IAS 28 -Investments in Associates and Joint Ventures [effective 1 January 2013, in conjunction with adoption of IFRS 10, IFRS 11 and IFRS 12, as well as amendments to IAS 27] IAS 29 -Financial Reporting in Hyperinflationary Economies IAS 31 -Interests in Joint Ventures IAS 32 -Financial Instruments: Presentation IAS 33 -Earnings per Share IAS 34 -Interim Financial Reporting IAS 36 -Impairment of Assets IAS 37 -Provisions, Contingent Liabilities and Contingent Assets IAS 38 -Intangible Assets IAS 39 -Financial Instruments: Recognition and Measurement IAS 40 -Investment Property IAS 41 -Agriculture IFRIC 5 -Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds IFRIC 12 /SIC 29 -Service Concession Arrangements
37
38
39
40
41 42 43 44 45 46 47 48 49 50 51
52
53
A 54
C IFRIC 17 -Distributions of Non-cash Assets to Owners IFRIC 18 -Transfers of Assets from Customers IFRIC 19 -Extinguishing Financial Liabilities with Equity Instruments IFRIC 20 -Stripping Costs in the Production Phase of a Surface Mine [effective 1 January 2013]
55
56
57 58
G 1
n as well as the presentation and disclosure requirements of IFRSs in issue at 30 tions indicated in the checklist by red colour coding are not yet mandatorily 2
Applicable
Yes
Accounting
IFRS1A
Presentation
IFRS1P
Yes
IFRS2A
IFRS2P
7 8 9
10 11 12 13
14
Yes
IFRS9(2009)A
IFRS9(2009)P
15
Yes
IFRS9(2010)A
IFRS9(2010)P
16
Yes
IFRS10A
IFRS10P
G 17 Yes
H IFRS11A
J IFRS11P
18
Yes
N/A
IFRS12P
19 20 21 22 23 24 25 26 27 28 29 30 31 32
Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
IFRS13A N/A IAS2A N/A IAS8A IAS10A IAS11A IAS12A IAS16A IAS17A IAS18A IAS19A IAS19(2011)A IAS20A IAS21A IAS23A N/A
IFRS13P IAS1P IAS2P IAS7P IAS8P IAS10P IAS11P IAS12P IAS16P IAS17P IAS18P IAS19P IAS19(2011)P IAS20P IAS21P IAS23P IAS24P
33 34 35
G 36 Yes Yes
H N/A IAS27(2008)A
J IAS26P IAS27(2008)P
37
38
Yes
IAS27(2011)A
IAS27(2011)P
39
Yes
IAS28(2008)A
IAS28(2008)P
40
Yes
IAS28(2011)A
IAS28(2011)P
41 42 43 44 45 46 47 48 49 50 51
Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
IAS29A IAS31A N/A IAS33A N/A IAS36A IAS37A IAS38A IAS39A IAS40A IAS41A
IAS29P IAS31P IAS32P IAS33P IAS34P IAS36P IAS37P IAS38P IAS39P IAS40P IAS41P
52
Yes
N/A
IFRIC5P
53
Yes
IFRIC12A
SIC29P
55
56
57 58
IFRS 1
15
16
17
18
19
20
21
22
23
Page 14 Of 493
25
26
27
28
29 30 31 32 33
34
35
36
37
38
Page 15 Of 493
40
IFRS 2
41
Share-based Payment
Does the entity enter into transactions with employees or other parties providing similar services which are settled through the issue of the entitys equity or equity of an entity in the same group? Does the entity enter into transactions with parties other than employees which are settled through the issue of the entitys equity or equity of an entity in the same group? Does the entity enter into transactions which are settled at an amount determined by reference to the entitys equity or equity of an entity in the same group? Does the entity enter into transactions in which the entity has the choice to settle the transaction either through the issue of the entitys equity or equity of an entity in the same group or in cash, the amount of which is determined by reference to the entitys equity or equity of an entity in the same group?
42
43
44
45
Does the entity enter into transactions in which the counterparty has the choice to receive payment either in the form of the entitys equity or equity of an entity in the same group or in cash, the amount of which is determined by reference to the entitys equity or equity of an entity in the same group?
46
Where the entity has entered into a share-based payment transaction, has the entity modified any terms of its share-based payment arrangement? Does the entity receive goods or services from its suppliers as consideration from share-based payment transactions in which another group entity has the obligation to settle the share-based payment?
47
69
IFRS 3
70
Business Combinations
Has the entity entered into a business combination during the period?
Page 16 Of 493
72
73
74
75
76
77
Has the entity entered into a business combination that is classified as a 'reverse acquisition' during the period?
78
IFRS 4
79
Insurance Contracts
Has the entity issued any insurance contracts (including reinsurance contracts) or does it hold any reinsurance contracts? Are there any embedded derivatives in insurance contracts which the entity has issued, apart from an embedded derivative which is itself an insurance contract? Do any of the insurance contracts which the entity has issued contain both an insurance component and a deposit component? Has the insurer changed its accounting policies for insurance contracts? Did the entity assume any insurance liabilities or acquire any insurance assets in a business combination (as defined in IFRS 3)? OR Did the entity acquire a portfolio of insurance contracts?
80
81
82
83
Page 17 Of 493
85
86
IFRS 5
87
88
Has the entity acquired any non-current assets (or disposal groups) exclusively with a view to their subsequent disposal (see note to 5A above)? Has the entity previously classified assets (or disposal groups) as held for sale which no longer meet the classification criteria (see 5A above)?
89
90
IFRS 6
91
92
93
IFRS 9(2009)
94 95
Financial Instruments
Does the entity have financial assets that are within the scope of IAS 39? Has the entity designated financial assets at fair value through profit or loss? Has the entity got a hybrid contract that includes a non-derivative host with the effect that some of the cash flows of the combined instrument vary in a way similar to a standalone derivative? Has the entity reclassified financial assets?
96
97
Page 18 Of 493
Has the entity got financial assets which are equity instruments?
100
IFRS 9(2010)
101 102 103 104 105
Financial Instruments
Does the entity have financial assets and / or financial liabilities that are within the scope of IAS 39? Has the entity derecognised any financial assets? Has the entity transferred any financial assets? Has the entity derecognised any financial liabilities? Has the entity designated financial assets at fair value through profit or loss? Has the entity designated financial liabilities at fair value through profit or loss? Does the entity have a hybrid contract with the effect that some of the cash flows of the combined instrument vary in a way similar to a standalone derivative? Has the entity applied hedge accounting? Has the entity reclassified financial instruments? Has the entity got financial assets which are equity instruments? Has the entity got financial liabilities which are designated as at fair value through profit or loss? Do one or more of the scope exceptions result in the contract, or a portion of the contract falling outside IAS 39?
106
107
112
Page 19 Of 493
113
114
Has the entity designated a hedging relationship for accounting purposes between one or more hedging instruments and one or more hedged items?
115
IFRS 10
116
B) Does the reporting entity have exposure or rights to variable returns from its involvement with the investee? C) Does the reporting entity have ability to use its power over the investee to affect the amount of the reporting entity's returns?
117
Have changes in reporting entity's ownership interest in a subsidiary resulted in a loss of control?
118
IFRS 11
119
Joint Arrangements
Does the entity participate in a contractual arrangement with one or more parties to undertake an economic activity, which is subject to joint control? Is the entity applying IFRS 11 for the first time?
120 121
IFRS 13
122
Page 20 Of 493
IAS 2
124 125 126 127
Inventories
Does the entity purchase goods for resale (for example merchandise, land)? Does the entity produce or manufacture inventories? Does the entity purchase any materials or supplies to be used in the rendering of services? Does the entity hold any agricultural produce measured in accordance with IAS 2?
128
IAS 8
129
130
131
132
133
134
IAS 10
135
136
137
Page 21 Of 493
IAS 11
Construction Contracts
Has the entity negotiated a contract for the construction of a single asset, or the construction of a number of assets which are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use (i.e. a construction contract as defined in IAS 11)?
139
140
IAS 12
Income Taxes
Is the entity subject to income tax legislation imposed either domestically and/or by foreign legislators, including withholding taxes, which are payable by a subsidiary, associate or joint venture on distributions to the reporting entity? Do taxable temporary differences exist? Was the entity involved in a business combination or acquisition in a past reporting period, for which a deferred tax liability in relation to goodwill has not been recognised? Has the entity been involved in a business combination in the current reporting period? Does the entity carry assets at fair value or at a revalued amount (e.g. under the revaluation models of IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets; at fair value under IAS 40 Investment Property or IAS 39 Financial Instruments: Recognition and Measurement)?
141
142
143
144
145
146
Does the entity carry assets at fair value or at a revalued amount (e.g. under the revaluation models of IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets; at fair value under IAS 40 Investment Property or IFRS 9 Financial Instruments)?
147
Do deductible temporary differences exist? Did the entity have any unused tax losses or unused tax credits during or at the end of the current reporting period?
148
Page 22 Of 493
150
151
152
153
IAS 16
154
155
156
157
158
159
160
170
IAS 17
Leases
Page 23 Of 493
171
172
173
Has the entity entered into a lease agreement, rental agreement, hire purchase agreement or any other agreement that gives the entity the right to use an asset or part of an asset for a period of time? (Is the entity a lessee?) Has the entity financed the purchase of an asset by another entity, sold an asset with finance, transferred the right to use an asset, or rented an asset to another entity? (Is the entity a lessor?) Has the entity entered into any sale and leaseback or lease and leaseback transactions in respect of the same asset? During the period, have there been amendments to the terms of an existing lease agreement? Has the entity entered into a lease agreement that includes both land and building(s) elements?
174
175
176 177
180
IAS 18
181
Revenue
Does the entity sell goods to its customers (this may include both goods that were manufactured or produced by the entity for the purpose of sale, or goods that were specifically purchased for resale)? Does the entity render a service to its customers (the rendering of a service normally involves the performance of a contractually agreed task over a period of time)? Does the entity generate income by allowing customers the use of its assets? Does the entity provide finance in conjunction with the sale of goods?
182
183 184
Page 24 Of 493
186
187
188
189
190
IAS 19
Employee Benefits
Does the entity have expenses arising from short term employee benefits (other than those to which IFRS 2 Share-based Payment applies) such as: a) wages, salaries and social security contributions; b) short-term compensated absences (e.g. absences due to vacation, sickness and short-term disability, maternity or paternity, jury service and military service); c) profit-sharing and bonuses payable within twelve months after the end of the period in which the employees render the related service; and d) non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services) for current employees?
191
192
Does the entity provide post-employment benefits such as: a) retirement benefits, such as pensions; and b) other post-employment benefits, such as post-employment life insurance and post-employment medical care?
193
Has the entity been involved in a business combination or acquisition in the current reporting period, which has brought together separate entities into one economic entity as a result of obtaining control over the net assets and operations of another entity? Has a curtailment or settlement occurred in the current financial year?
194
Page 25 Of 493
196
197 198
199
200
Is the entity due to pay any employee benefits as a result of either: a) its decision to terminate an employee's employment before the normal retirement date; or b) an employee's decision to accept voluntary redundancy in exchange for those benefits?
201
IAS 19(2011)
Employee Benefits
Does the entity have expenses arising from short term employee benefits (other than those to which IFRS 2 applies), such as the following, that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service: a) wages, salaries and social security contributions; b) paid annual leave and paid sick leave; c) profit-sharing and bonuses; and d) non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services) for current employees.
202
Page 26 Of 493
203
204
205
206
207
208
209
Is the entity due to pay any employee benefits as a result of either: a) its decision to terminate an employee's employment before the normal retirement date; or b) an employee's decision to accept an offer of benefits in exchange for the termination of employment?
210
IAS 20
211
212
Page 27 Of 493
IAS 21
214 215
216
223
224
226
IAS 23
227
Borrowing Costs
Has the entity incurred borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset? Has the entity incurred borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset?
228
235
IAS 27(2008)
Page 28 Of 493
237
238
239
240 241
IAS 27(2011)
242 243
244
IAS 28(2008)
245
Investments in Associates
Does the reporting entity exercise significant influence over one or more entities? Has the reporting entity ceased to exercise significant influence during the reporting period (e.g. as a result of the disposal of a portion of the ownership interest)? Does the reporting entity have investments in associates and prepare separate financial statements?
246
247
248
IAS 28(2011)
249
Page 29 Of 493
251
252
253
IAS29
254
255
256
257
258
IAS 31
259
260
Page 30 Of 493
261
262
Does the entity have joint control over a joint venture established as a separate corporation, partnership or other entity in which each venturer has an interest? (Is the entity a venturer in a jointly controlled entity?) Is the entitys accounting policy to account for jointly controlled entities in which it is a venturer using proportionate consolidation? Is the entitys accounting policy to account for jointly controlled entities in which it is a venturer using the equity method? Does the reporting entity have interests in jointly controlled entities and prepare separate financial statements? Has the reporting entity contributed or sold non-monetary assets to a joint venture in which it is a venturer? Has the reporting entity purchased assets from a joint venture in which it is a venturer?
263
264
265
266 267
274
IAS 33
275
276 277
Has the entity entered into a business combination during the year? Does the entity (or its subsidiary, associates and joint ventures) have potential ordinary shares? Does the entity have agreements whereby the issuance of ordinary shares is contingent upon the occurrence or non-occurrence of certain events?
278
Page 31 Of 493
280
281 282
283
284
IAS 36
285
Impairment of Assets
Does the entity recognise assets such as property, plant and equipment and investment properties that are measured on a cost basis, or intangible assets? Has the entity recognised any intangible assets with an indefinite useful life or any intangible assets not yet available for use? Has the entity recognised goodwill acquired in a business combination in its financial statements? Does the entity recognise assets, for which there is an indication that the assets may be impaired? (Refer to compliance questions for 36A) Does the entity have different divisions, business units, branches or outlets that generate cash flows independently from the other businesses within the entity? OR Does the entity have investments in subsidiaries, associates or joint ventures? Does the entity have any corporate assets that exist for the benefit of different divisions or business units within the larger entity, but do not generate cash-flows independently from the other divisions/business units, for example the building of a headquarters or a research centre?
286
287
288
289
290
291
Page 32 Of 493
IAS 37
293
294
295
Does the entity have any possible assets that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity? (Does the entity have any contingent assets?)
296
Is the entity a party to any contract where the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it, for example the long-term lease of a building that the entity is no longer using? (Is the entity party to any onerous contracts?)
297
Has the entity planned or embarked on a restructuring of the business, i.e. a programme that is planned and controlled by management that materially changes the scope of the business undertaken by the entity; or the manner in which business is conducted? Did the entity have an interest in, or have an obligation to make potential additional contributions to, a fund or a trust in order to segregate assets to fund some or all of the costs of decommissioning, restoration and environmental rehabilitation? Does the entity have any obligations related to decommissioning of waste electrical and electronic equipment pursuant to the European Unions Directive on Waste Electrical and Electronic Equipment (WE&EE)?
298
299
Page 33 Of 493
IAS 38
301
Intangible Assets
Did the entity hold or acquire any intangible assets (for example intellectual property, trademarks, brands, patents, copyrights or customer lists) during the year? Does the entity recognise any intangible assets that have been generated internally (for example designs, processes, goodwill, customer lists or web sites) on its statement of financial position? Did the entity incur additional expenditure, relating to an existing item of intangible assets during the year? Did the entity incur expenditure on starting up an operation or business, training or advertising & promotion? Did the entity incur expenditure related to research and/or development?
302
303
304
305 Does the entity hold/own intangible assets accounted for using the cost model? Does the entity revalue any class of its intangible assets under the revaluation model? Does the entity hold any intangible assets with an indefinite useful life? Did the entity sell, scrap or otherwise dispose of any intangible assets during the year, or are there intangible assets from which no further economic benefits are anticipated? Has the entity incurred costs related to the development of an internet web site or intranet?
306
307 308
309
310
323
IAS 39
324 325 326 327
Page 34 Of 493
329
Has the entity removed (i.e. derecognised) a previously recognised financial asset (or a portion of the financial asset) from its statement of financial position? Has the entity removed (i.e. derecognised) a previously recognised financial liability (or a portion of the financial liability) from its statement of financial position? Has the entity designated a hedging relationship for accounting purposes between one or more hedging instruments and one or more hedged items?
330
331
332
IAS 40
333 334
Investment Property
During the year, did the entity hold, lease under a finance lease, or acquire any land, buildings or properties? Did the entity hold a property interest under an operating lease that is accounted for as an investment property? During the year, did the entity hold, lease under a finance lease, or acquire any property meeting IAS 40s definition of investment property? During the year, did the entity incur additional expenditure relating to an existing investment property? Has the entity acquired investment property in exchange for a non-monetary asset(s), or a combination of monetary and non-monetary asset(s)? Has the entity chosen the fair value model to account for all its investment property? Has the entity chosen the cost model to account for all its investment property? Has any item of investment property been transferred during the year? During the period, did the entity dispose of any investment property (whether by sale or entering a finance lease or otherwise) or permanently withdraw any investment property from use? During the period, has the entity received compensation from third parties for investment property that was impaired, lost or given up?
335
336
337
341
342
Page 35 Of 493
IAS 41
344
Agriculture
Is the entity involved in agricultural or farming activities with respect to living plants or animals or does it own or control any biological assets? Is the entity unable to measure at initial recognition the fair value of any of its biological assets reliably? Has the entity received government grants, subsidies or subventions related to biological assets, agricultural activity or farming (including grants that require an entity not to engage in agricultural activity)?
345
346
347
IFRIC 12
348
349
350
353
IFRIC 17
354
355
356
IFRIC 18
357
358
Page 36 Of 493
IFRIC 19
360
363
IFRIC 20
364
367
Page 37 Of 493
n terms of IFRS 1? 11
ontracts?
IFRS1F
IFRS1G
IFRSs, party to an arrangement, ed transactions, that did not take a right to use an asset (e.g. an 18 urn for a payment or series of
IFRS1H
IFRS1I IFRS1J
sult in any cumulative exchange IFRS statement 20 of financial subsidiaries, jointly controlled 21
IFRS1K IFRS1L
IFRS1M
Page 38 Of 493
IFRS1O IFRS1P
IFRS1Q
IFRS1R
IFRS1W
IFRS1U
IFRS1Z IFRS1ZA
Page 39 Of 493
40 IFRS2A
IFRS2B
IFRS2C
hich the entity has the choice to ue of the entitys equity or equity he amount of which is determined of an entity 44 in the same group?
IFRS2D
hich the counterparty has the m of the entitys equity or equity he amount of which is determined of an entity 45 in the same group?
IFRS2E
IFRS2F
IFRS2G
69 IFRS3A
Page 40 Of 493
t consideration recognised after mation obtained after that date at the acquisition date? 76
IFRS3D
IFRS3H
78 IFRS4A
IFRS4D
IFRS4E
IFRS4F IFRS4G
Page 41 Of 493
IFRS4B
86 IFRS5A
iscontinued Operations
groups of assets for which it ncipally through a sale transaction et held for sale) or is committed to owners acting 87 in their capacity ?
IFRS5B
IFRS5C
90 IFRS6A
al Resources
nd evaluation expenditure as an 92
IFRS6B
97
IFRS9D
Page 42 Of 493
e equity instruments? 99
ssets?
ets?
abilities?
IFRS9G
the effect that some of the cash way similar 107 to a standalone
IFRS9H
108 109
ents?
Page 43 Of 493
E ment provisions to a financial asset y when there is OBJECTIVE or more events that occurred nd that loss event has an impact 113 nancial asset or group of financial
nship for accounting purposes and one or more 114 hedged items?
IAS39C
115 IFRS10A
IFRS10B
118 IFRS11A
ime?
IFRS11C
s for which another IFRS requires losures about fair value 122
IFRS13A
Page 44 Of 493
ventories?
IAS2D
128 IAS8E
th IFRSs, accounting policies that ventions, rules and practices to 129 nancial statements?
IAS8C IAS8D
IAS8A IAS8B
134 IAS10A
affecting the reporting entity, ore the date when the financial 135
IAS10B IAS10C
orting period that it intends to ave there been indicators that the 137 oncern?
Page 45 Of 493
construction of a single asset, or ch are closely interrelated or hnology and function or their 139 n contract as defined in IAS 11)?
140 IAS12A
on imposed either domestically holding taxes, which are payable on distributions 141to the reporting
142
IAS12B IAS12J
IAS12F
at a revalued amount (e.g. perty, Plant and Equipment and er IAS 40 Investment Property or 145 and Measurement)?
IAS12G
at a revalued amount (e.g. perty, Plant and Equipment and er IAS 40 Investment Property or 146
IAS12G
147
IAS12C IAS12D
Page 46 Of 493
IAS12H IAS12K
ination or acquisition in a past as not recognised for the r other deferred tax assets 151 usiness Combinations were not
IAS12I
IAS16G
IAS16F IAS16C
IAS16D IAS16E
170
Page 47 Of 493
a series of structured elated party or parties (an ease where the substance of the 171 meet the definition of a lease
mprising a transaction or a series he legal form of a lease but that m of property, plant or 172 es of payments?
IAS17H
ent, rental agreement, hire nt that gives the entity the right riod of time?173 (Is the entity a
IAS17A
IAS17B
IAS17C
IAS17D IAS17E
180 IAS18A
(this may include both goods that ty for the purpose of sale, or 181 esale)?
IAS18B
IAS18C IAS18D
Page 48 Of 493
IAS18E
IAS18F IAS18H
IAS18I
190 IAS19A
short term employee benefits ased Payment applies) such as: ntributions; e.g. absences due to vacation, y or paternity, jury service and
within twelve months after the 191 ender the related service; and ical care, housing, cars and free employees?
IAS19B
combination or acquisition in the t together separate entities into g control over the net assets and 193
IAS19I
IAS19F
Page 49 Of 493
mployee benefit liabilities (other yment applies) such as: g. long-service or sabbatical
welve months or more after the 199 ender the related service; and months or more after the end of
IAS19H
201 IAS19A
short term employee benefits such as the following, that are months after the end of the yees render the related service: ontributions; e;
Page 50 Of 493
IAS19J IAS19D
t-employment benefit plans, r defined benefit 206 plan? fund a post employment benefit 207
IAS19E IAS19G
mployee benefits including items d to be settled wholly before reporting period in which the
IAS19H
210
IAS20B
Page 51 Of 493
ange Rates
n currencies?214 215
s?
IAS21H
IAS21D
IAS21F
226 IAS23A
IAS23B
235
atements
Page 52 Of 493
ng entity created, sponsored or was established to accomplish a porting entity (so-called Special 237
IAS27D
IAS27C
statements?
240 241
IAS27E
statements?
242
IAS27A IAS27B
significant influence during the posal of a portion 246 of the in associates and prepare 247
IAS28C
248 IAS28A
ntures
nt influence over one or more a joint venture that has joint 249
Page 53 Of 493
E significant influence or joint period (e.g., as a result of the 250 est)? in associates or joint ventures 251
IAS28C
IAS28D
253
Economies
IAS29A
IAS29B
e economy of the entity or any of dentified as hyperinflationary, 256 ary in the prior period?
IAS29D
IAS29C
258 IAS31A
nt venture that involves the use nturers rather than the or other entity, or a financial 260(Is the entity a rs themselves?
IAS31B
Page 54 Of 493
E nt venture that involves joint he venturers of one or more urpose of, the joint venture and ure, with the objective that each e economic benefits through its 261 e entity a venturer in a jointly
nt venture established as a entity in which each venturer has 262 entity?) ointly controlled
IAS31D
IAS31E
IAS31F
IAS31I
IAS31G IAS31H
274 IAS33A
tential ordinary shares that are of issuing ordinary shares or s markets, or has it voluntarily 275 33? dance with IAS
Page 55 Of 493
struments that are not r two-classes of ordinary shares? 280 settled in ordinary shares or 281
IAS33I
284 IAS36A
sets with an indefinite useful life r use? 286 in a business combination in its 287
IAS36G
IAS36D
IAS36C
IAS36B
that exist for the benefit of he larger entity, but do not e other divisions/business units, 290 or a research centre?
IAS36E
IAS36F
Page 56 Of 493
ontingent Assets
ns at the end of the reporting iming or amount that are 293 embodying economic benefits?
ns arising from past events that uncertain future events that are OR ns arising from past events that cause it is not probable that an benefits will be required to settle 294 ion cannot be measured with any contingent liabilities?)
IAS37B
at arise from past events and he occurrence or non-occurrence wholly within the control of the nt assets?) 295
IAS37C
the unavoidable costs of meeting he economic benefits expected to term lease of a building that the 296 contracts?) ty to any onerous
IAS37D
estructuring of the business, i.e. a by management that materially ken by the entity; 297 or the manner
IAS37E
an obligation to make potential t in order to segregate assets to oning, restoration and 298
IAS37F
IAS37G
Page 57 Of 493
sets that have been generated goodwill, customer lists or web 302
IAS38B
IAS38E IAS38D
IAS38C
IAS38F IAS38G
IAS38J IAS38H
se of any intangible assets during m which no further economic 309 development of an internet web 310
IAS38I
323
Measurement
IAS39H 324 325 326 IAS39A IAS39B IAS39D
Page 58 Of 493
IAS39F
nship for accounting purposes and one or more 331 hedged items?
IAS39G
IAS40C IAS40I
IAS40J
Page 59 Of 493
IAS41B IAS41C
subsidies or subventions related arming (including grants that 346 ral activity)?
347 IFRIC12A
IFRIC12B
IFRIC12C
ners
carrying amount of the assets dividend payable when the entity 355
om a customer? 358
Page 60 Of 493
quity Instruments
363
of a Surface Mine
IFRIC20A 364 IFRIC20B 365
ised?
y asset?
367
Page 61 Of 493
IFRS 1
IFRS 2
Share-based Payment
Did the entity have any share-based payment arrangements in the scope of IFRS 2?
IFRS 3
Business Combinations
Has the entity entered into a business combination during the current or prior reporting period? Is the acquisition date of a business combination after the end of the reporting period but before the financial statements are authorised for issue?
IFRS 4
Insurance Contracts
Did the entity issue any insurance contracts (including reinsurance contracts) or hold any reinsurance contracts?
IFRS 5
IFRS 6
Page 62 of 493
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Has the entity incurred expenditure related to exploration and evaluation of mineral resources?
IFRS 7
IFRS 7
(amended)
IFRS 8
Operating Segments
Does the entity : (a) have a debt or equity instruments that are traded in a public market (for example, a domestic or foreign stock exchange or an over-the counter market); or (b) file or is in the process of filing, its (consolidated) financial statements with a securities commission or other regulatory organisation for the purpose of issuing any class of instruments in a public market; or (c) choose to disclose voluntary information about segments that is described as segment information.
IFRS 9(2009)
Financial Instruments
Has the entity applied IFRS 9 (and the amendments to other IFRSs listed in Appendix C of IFRS 9) for a period beginning before 1 January 2015?
IFRS 9(2010)
Financial Instruments
Has the entity applied IFRS 9 (and the amendments to other IFRSs listed in Appendix C of IFRS 9) for a period beginning before 1 January 2015? Did the entity implement any fair value hedges of the interest rate exposure of a portion of a portfolio of financial assets or financial liabilities?
IFRS 10
Page 63 of 493
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Is the entity applying IFRS 10 for an annual period beginning before 1 January 2013? Is the entity applying IFRS 10 for the first time?
IFRS 11
Joint Arrangements
Has the entity transitioned from proportionate consolidation method to equity method, while accounting for joint ventures? Has the entity transitioned from the equity method to accounting for assets and liabilities? Was the entity previously accounting in separate financial statements? Is the entity applying IFRS 11 for the first time?
IFRS 12
IFRS 13
Does the entity have assets or liabilities not measured at fair value in the statement of financial position but for which the fair value is disclosed?
IAS 1
Page 64 of 493
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Does management, in extremely rare circumstances, conclude that compliance with a requirement in an IFRS would be so misleading that it would conflict with the objective of financial statements set out in the Conceptual Framework for Financial Reporting? Has the entity departed from a requirement of an IFRS in a prior period, and does that departure affect the amounts recognised in the financial statements for the current period? Is management aware, in making its assessment of the entity's ability to continue as a going concern, of material uncertainties related to events or conditions that may cast significant doubt upon the entitys ability to continue as a going concern? Did the entity change the end of its reporting period and are the financial statements presented for a period longer or shorter than one year? Has the entity applied an accounting policy retrospectively, made a retrospective restatement of items in its financial statements, reclassified items in its financial statements or otherwise changed the presentation of items in its financial statements? Does a presentation based on liquidity provide information that is reliable and more relevant than presentation on a current/non-current basis? Did the entity breach a provision of a long-term loan agreement on or before the end of the reporting period with the effect that the liability becomes payable on demand? Did the entity hold a puttable financial instrument or an instrument that imposes on the entity some obligations arising on liquidation?
IAS 2
Inventories
Did the entity have inventories?
IAS 7
Page 65 of 493
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Did the entity have any cash flows arising from an investment in a jointly controlled entity accounted for by the use of the proportionate consolidation or equity method ? Did the entity have any cash flows arising from changes in ownership interests in subsidiaries and other businesses?
IAS 8
IAS 10
IAS 11
Construction Contracts
Did the entity have any construction contracts, for which it is the contractor?
Page 66 of 493
04/26/2013 13:17:02
IAS 12
Income Taxes
Did the entity have any deferred tax assets? Is the entity subject to income tax in a jurisdiction whereby income taxes are payable at a higher or lower rate, or may be refundable or payable, if part or all of the net profit or retained earnings is paid out as a dividend? Are changes in tax rates or tax laws enacted or announced after the reporting period?
IAS 16
IAS 17
Leases
Did the entity hold any assets under finance leases (i.e. the entity is a lessee under a finance lease)? Is the entity a lessee under any operating lease? Is the entity a lessor under any finance lease? Did the entity hold any assets which are leased out under operating leases (i.e. the entity is a lessor under an operating lease)? Are any of the arrangements where the entity is acting as a lessor or a lessee (either under any operating lease or under a financing lease) sale and leaseback arrangements? Did the entity enter into an arrangement, comprising a transaction or a series of related transactions, that does not take the legal form of a lease but that conveys a right to use an asset (e.g. an item of property, plant or equipment) in return for a payment or series of payments?
Page 67 of 493
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Did the entity have any arrangements that have a legal form of a lease but that do not, in substance, involve a lease under IAS 17?
IAS 18
Revenue
Did the entity recognise any revenue? Does the entity enter into agreements for the construction of real estate?
IAS 19
Employee Benefits
Did the entity provide any short-term employee benefits? Did the entity participate in any defined benefit plans for post-employment benefits? Did the entity participate in any defined contributions plans for postemployment benefits? Did the entity provide any other long-term employee benefits? Did the entity offer or grant any termination benefits?
IAS 19(2011)
Employee Benefits
Did the entity provide any short-term employee benefits? Did the entity participate in any defined benefit plans for post-employment benefits? Did the entity participate in any defined contributions plans for postemployment benefits? Did the entity provide any other long-term employee benefits? Did the entity offer or grant any termination benefits?
IAS 20
Page 68 of 493
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Did the entity receive any government assistance (including government grants)?
IAS 21
IAS 23
Borrowing Costs
Did the entity incur any borrowing costs?
IAS 24
IAS 26
IAS 27(2008)
Page 69 of 493
04/26/2013 13:17:03
IAS 27(2011)
Is the entity applying IAS 27(2011) for an annual period beginning before 1 January 2013?
IAS 28(2008)
Investments in Associates
Did the entity have any investments in associates?
IAS 28(2011)
IAS 29
IAS 31
Page 70 of 493
04/26/2013 13:17:03
IAS 32
IAS 33
IAS 34
IAS 36
Impairment of Assets
Did the entity recognise any impairment losses, or reversals of impairment losses, during the period on assets within the scope of IAS 36? Did the entity have any goodwill or intangible assets with indefinite useful lives?
IAS 37
Page 71 of 493
04/26/2013 13:17:03
IAS 38
Intangible Assets
Did the entity recognise any intangible assets on its balance sheet?
IAS 39
IAS 40
Investment Property
Does the entity have any investment property?
IAS 41
Agriculture
Did the entity: - operate in agricultural or farming activities with respect to living plants or animals; or - own or control any biological assets?
IFRIC 5
SIC 29
IFRIC 17
Page 72 of 493
04/26/2013 13:17:03
IFRIC 19
IFRIC 20
Page 73 of 493
04/26/2013 13:17:03
ons
l Reporting Standards
Yes IFRS1A
Yes
IFRS2A
IFRS3A IFRS3B
Yes
IFRS4
tinued Operations
Yes IFRS5
IFRS5A IFRS5B
IFRS5C
IFRS5D
sources
Page 74 of 493
04/26/2013 13:17:03
Yes
IFRS6A
as adopted IFRS 9)
IFRS7A IFRS7B
IFRS8A
IFRS8A
ut segments that is
IFRS8A
Yes
IFRS9A
IFRS9A
IFRS39A
Page 75 of 493
04/26/2013 13:17:03
od beginning before 1
IFRS10A
IFRS10B
IFRS11A
IFRS12B IFRS12A
IFRS13A
IFRS13A
IAS1A
Page 76 of 493
04/26/2013 13:17:03
IAS1B
IAS1C
IAS1D
IAS1E
IAS1F
IAS1G
IAS1H
IAS1I
Yes
IAS2A
IAS7A
Page 77 of 493
04/26/2013 13:17:03
IAS7B
hanges in ownership
IAS7C
IAS10A
IAS10B
IAS10C
Yes
IAS11A
Page 78 of 493
04/26/2013 13:17:03
IAS12A IAS12B
IAS12C
or equipment?
IAS16A IAS16B
IAS17E
sing a transaction or a the legal form of a lease item of property, plant or payments?
IAS17F
Page 79 of 493
04/26/2013 13:17:03
IAS17G
IAS18A IAS18C
benefits?
oyee benefits?
efits?
benefits?
oyee benefits?
efits?
Page 80 of 493
04/26/2013 13:17:03
e (including government
IAS20B
Rates
IAS21A IAS21A IAS21A
cies;
rency?
Yes
IAS23A
dividual?
IAS24A IAS24B
IAS24C
nefit Plans
IAS26A
IAS26B
ents
Yes IAS27
Page 81 of 493
04/26/2013 13:17:04
IAS27A
paragraph 16) or an investor an investee prepares investor identified the IFRS 10, IFRS 11 or IAS 28
IAS27B
IAS27C
s?
Yes
IAS28A
s
IAS28A
IAS28B
nomies
Yes IAS29
controlled entities?
Yes
IAS31A
Page 82 of 493
04/26/2013 13:17:04
IAS32A IAS32B
as member's share in coequity but give the holder her financial asset?
IAS32C
s; or
s?
Yes
IAS34A
IAS36A
IAS36B
gent Assets
IAS37A IAS37B IAS37C
mbursements?
Page 83 of 493
04/26/2013 13:17:04
Yes
IAS38A
surement
IAS39A IAS39B
s statement of financial
Yes
IAS40A
IAS41A IAS41A
es
Yes SIC29
rvice concession
Page 84 of 493
04/26/2013 13:17:04
Yes
IFRIC17A
Instruments
Yes IFRIC19A
Surface Mine
period beginning on or IFRIC20A
IFRIC20B
Page 85 of 493
04/26/2013 13:17:04
B 1 2 3
TQ
C
Index
IFRS 1
Reference
11 75 76 77 143 144 442 443 538 539 1D 581 582 626 662 735
1H 1E 1F 1G 1C 1B 1A TQ Reference
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Opening IFRS statement of financial position Is the entity a first time adopter of IFRSs in terms of IFRS 1? Exemptions from other IFRSs Did the entity enter into any business combinations before the date of transition to IFRSs? Share-based payment transactions Has the entity granted any equity instruments prior to the date of transition that fall within the scope of IFRS 2? Insurance contracts Has the entity entered into any insurance contracts? Fair value or revaluation as deemed cost Has the entity recognised items of property, plant and equipment in the opening IFRS statement of financial position? Has the entity recognised items of investment property in the opening IFRS statement of financial position? Has the entity recognised intangible assets (other than goodwill) in the opening IFRS statement of financial position? IFRIC 4 Determining whether an arrangement contains a lease Was the entity, at the date of transition to IFRSs, party to an arrangement, comprising a transaction or a series of related transactions, that did not take the legal form of a lease but that conveyed a right to use an asset (e.g. an item of property, plant or equipment) in return for a payment or series of payments?
736 772 773 812 813 853 854 897 898 941 975 1009
1L 1M 1N 1K 1J 1I
Employee benefits Has the entity recognised defined benefit obligations in the opening IFRS statement of financial position? Cumulative translation differences Does retrospective application of IAS 21 result in any cumulative exchange differences to be recognised in the opening IFRS statement of financial position? Investments in subsidiaries, joint controlled entities and associates Did the entity recognise any investments in subsidiaries, jointly controlled entities and associates? Assets and liabilities of subsidiaries, associates and joint ventures Did the entity become a first-time adopter later than its parent or an entity that has significant influence or joint control over it? Did the entity become a first-time adopter later than its subsidiary, associate or joint venture? Did the entity become a first-time adopter for its separate financial statements earlier or later than for its consolidated financial statements? Compound financial instruments
Page 86 of 493
D
Did the entity recognise any compound financial instruments under previous GAAP? Designation of previously recognised financial instruments Has the entity recognised financial instruments, as defined under IAS 32 and IAS 39, in the opening IFRS statement of financial position? Decommissioning liabilities included in the cost of property, plant and equipment Did the entity have obligations to dismantle, remove and restore items of property, plant and equipment at the date of transition to IFRSs? Financial assets or intangible assets accounted for in accordance with IFRIC 12 Was the entity, at the date of transition to IFRSs, a party to a Service Concession Arrangement within the scope of IFRIC 12 Service Concession Arrangements? Borrowing costs
1135 1167 1168 1179 1180 1X 1185 1186 1191 1192 1208 1221 1222 1252 1253 1300 1301 1341
1U 1W 1T 1S 1YA IFRS 1:D26 1Y IFRS 1:D25 1V
Has the entity considered applying the transitional provisions in IAS 23? IFRIC 18 - Transfer of assets from customers Has the entity considered applying the transitional provisions in IFRIC 18? IFRIC 19 - Extinguishing financial liabilities with equity instruments Has the entity considered applying the transitional provisions in IFRIC 19? Severe hyperinflation Does the entity have a functional currency that was, or is, the currency of a hyperinflationary economy? Exceptions to retrospective application of other IFRSs Derecognition of financial assets and financial liabilities Did the entity derecognise financial assets or financial liabilities under previous GAAP? Hedge accounting Does the entity apply hedge accounting or has the entity recognised any derivatives in the opening IFRS statement of financial position? Non-controlling interests Has the entity applied the transitional provisions relating to non-controlling interests set out in paragraph B7 of IFRS 1? Estimates Has the entity used estimates to measure assets and liabilities recognised in its opening IFRS statement of financial position? Classification and measurement of financial assets
1342 1366
1Z
Has the entity recognised any financial assets in the opening IFRS statement of financial position?
1426 1437
Page 87 of 493
E 1 2 3
F
AcctTQSummary
11 75 Yes / No / N/A 76 77 143 144 442 443 538 539 581 582 626 662 735 736 772 773 812 813 853 854 897 898 941 975 1009
Comments
Page 88 of 493
E 1010 1051 1052 1092 1093 1134 1135 1167 1168 1179 1180 1185 1186 1191 1192 1208 1221 1222 1252 1253 1300 1301 1341 1342 1366 1367 1398 1399 1425 1426 1437
Page 89 of 493
B 1 2 3
TQ
C
Index
IFRS 1
Reference
4 12 46 47 1A
IFRS 1:4A TQ Reference
48
49
51 60 61 62
IFRS 1:D11 IFRS 1:6
121
149
150
Page90 of 493
C
IFRS 1:24(a)
IFRS 1:24(b)
188
227 245
IFRS 1:28
IFRS 1:29
246
IFRS 1:29
251
IFRS 1:29A
257
263 264
271
272
IFRS1:31A IFRS1:31B
IFRS1:31C
291 301
Page91 of 493
B 302
C
IFRS 1:32(a)
360 363
IFRS 1:39F
364 365
Page92 of 493
D 1 2 3
4 12 46 47
For additional guidance, select Show in the next column Presentation/disclosure requirement Is the entity a first-time adopter in terms of IFRS 1 in the current period? An entity that has applied IFRSs in a previous reporting period, but whose most recent previous annual financial statements did not contain an explicit and unreserved statement of compliance with IFRSs, can be considered a first-time adopter in terms of IFRS 1. Note: Annual Improvements to IFRSs: 2009-2011 Cycle (IFRS 1: Repeated application of IFRS 1), issued in May 2012, added paragraph 4A to IFRS 1. An entity shall apply the amendment when it applies this annual improvement. Has the entity applied IFRSs in a previous reporting period but did not, in its most recent previous annual Yes / No / N/A Yes
48
49
51 financial statements, provide an explicit unreserved statement of compliance with IFRSs? 60 Opening IFRS statement of financial position 61 IFRSs.
An entity shall prepare and present an opening IFRS statement of financial position at the date of transition to
62 Employee benefits 63 amounts are determined for each accounting period prospectively from the date of transition to IFRSs. 79 Share-based payment transactions 80
Did the entity have any share-based arrangements in the scope of IFRS 2? An entity may disclose the amounts required by paragraph 120A(p) of IAS 19 Employee Benefits as the
180 Explanation of transition to IFRSs 181 Reconciliations 182 financial performance and cash flows.
The entity shall explain how the transition from previous GAAP to IFRSs affected its reported financial position,
Page93 of 493
D
The entitys first IFRS financial statements shall include reconciliations of its equity reported under previous 184 GAAP to its equity under IFRSs for both of the following dates:
185 186
a)
b) the end of the latest period presented in the entitys most recent annual financial statements in accordance with previous GAAP.
The entitys first IFRS financial statements shall include reconciliation to its total comprehensive income under IFRSs for the latest period in the entitys most recent annual financial statements. The starting point for that reconciliation shall be total comprehensive income under previous GAAP for the same period or, if an entity did 188 not report such a total, profit or loss under previous GAAP.
Did the entity recognise or reverse any impairment losses for the first time in preparing its opening IFRS
215 Has the entity presented a statement of cash flows under its previous GAAP? 218
Has the entity become aware of errors made under previous GAAP? Has the entity changed its accounting policies or its use of the exemptions contained in IFRS 1 during the
245 Designation of financial assets or financial liabilities 246 through profit or loss or as available-for-sale (as permitted by paragraph D19 of IFRS 1)?
Has the entity designated any previously recognised financial assets or financial liabilities as at fair value
251 through profit or loss (as permitted by paragraph D19A of IFRS 1)?
Has the entity designated any previously recognised financial asset as a financial asset measured at fair value
Has the entity designated any previously recognised financial liability as a financial liability at fair value through profit or loss (as permitted by paragraph D19 of IFRS 1)?
271
Does the entity use a deemed cost in its opening IFRS statement of financial position for an investment in a subsidiary, jointly controlled entity (joint venture, for those applying IFRS 11) or associate in its separate 272 financial statements (see paragraph D15 of IFRS 1)? Does the entity use the exemption in paragraph D8A(b) for oil and gas assets? Does the entity use the exemption in paragraph D8B for operations subject to rate regulation?
278 282
Page94 of 493
D
Does the entity present an interim financial report under IAS 34 for part of the period covered by its first IFRS financial statements, and did it present an interim financial report for the comparable interim period of the 302 immediately preceding financial year? Exemption from the requirement to restate comparative information for Does the entity choose to present comparative information that does not comply with IFRS 9 and IFRS 7 in its
332 IFRS 9
351 Disclosures about financial instruments 352 357 360 363 Adoption of amendments to Standard in advance of effective date
If the entity has applied paragraph E4 of IFRS 1 arising from Disclosures-Transfers of Financial Assets (Amendments to IFRS 7), issued in October 2010 for a annual period beginning before 1 July 2011, it shall 364 disclose that fact. Did the entity choose to apply the transition provisions in paragraph 44G of IFRS 7?
Does the entity choose to apply the transitional provisions in paragraph 44M of IFRS 7? Does the entity choose to apply the transitional provisions in paragraph 173(b) of IAS 19?
365
Page95 of 493
F 1 2 3
PresentTQSummary
4 12 46 47
Comments
48
49
121
149
150
Page96 of 493
188
251
257
263 264
271
272
Page97 of 493
F 302
Page98 of 493
B 1 2 3
TQ
C
Index
IFRS 2
Reference
5 33 34 36
2A TQ Reference
38
2B
39
2C
40
2D
41
2E
42
410
Page 99 of 493
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D 1 2 3
Share-based Payment
Recognition/measurement requirement This section of the questionnaire addresses IFRS 2, which prescribes the accounting for the situation where an entity enters into a transaction in which the consideration paid for goods or services is linked, either directly or indirectly to the entities' equity securities or equity instruments of another entity in the same group. The principal issues relate to the measurement of the share-based payment transaction and the subsequent expensing thereof.
5 33
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
38 settled through the issue of the entitys equity or equity of an entity in the same group?
Does the entity enter into transactions with parties other than employees which are settled through the issue of
Does the entity enter into transactions which are settled at an amount determined by reference to the entitys
41
Does the entity enter into transactions in which the entity has the choice to settle the transaction either through the issue of the entitys equity or equity of an entity in the same group or in cash, the amount of which is determined by reference to the entitys equity or equity of an entity in the same group? Does the entity enter into transactions in which the counterparty has the choice to receive payment either in the form of the entitys equity or equity of an entity in the same group or in cash, the amount of which is determined by reference to the entitys equity or equity of an entity in the same group? Modification to the terms and conditions on which equity instruments were granted, including Where the entity has entered into a share-based payment transaction, has the entity modified any terms of its
42
04/26/2013 13:17:05
F 1 2 3
AcctTQSummary N o
5 33 34 36 38
Comments
39
40
41
42
04/26/2013 13:17:05
B 1 2 3
TQ
C
Index
IFRS 2
Reference
5 12 13 14 16
IFRS 2:44 2A TQ Reference
17 19
IFRS 2:45(a)
20 28 47
IFRS 2:46
48
IFRS 2:47(a)
50
IFRS 2:48
77
IFRS 2:49
80
89
IFRS 2:50
90 92
04/26/2013 13:17:05
B 93
C
IFRS 2:51(a)
IFRS 2:51(a)
94
IFRS 2:51(b) IFRS 2:51(b)
95
96
97
IFRS 2:52
98
99
IFRS 2:56
100
04/26/2013 13:17:05
D 1 2 3
Share-based Payment
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IFRS 2, which prescribes the accounting for transactions in which the consideration paid by the entity for goods or services is linked, either directly or indirectly, to the entitys equity securities or to equity instruments of another entity in the same group. The principal issues relate to the measurement of the share-based payment transaction and the subsequent expensing thereof.
5 12
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity have any share-based payment arrangements in the scope of IFRS 2? The nature and extent of share-based payment arrangements that existed in the period The entity shall disclose information that enables users of the financial statements to understand the nature and Yes / No / N/A Yes
17 extent of share-based payment arrangements that existed during the period. 19 The entity shall disclose the following (at a minimum): 20 28
a) a description of each type of share-based payment arrangement that existed at any time during the period, including the general terms and conditions of each arrangement; Did the entity have any share options granted under a share-based payment transaction? The basis for determination of the fair value of the goods or services received, or the fair value of
48
The entity shall disclose information that enables users of the financial statements to understand how the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period was determined. Has the entity measured the fair value of goods or services received as consideration for equity instruments of the entity indirectly, by reference to the fair value of the equity instruments granted?
50
77
Has the entity measured directly the fair value of goods or services received during the period?
80
Has the entity rebutted the presumption in paragraph 13 of IFRS 2 that the fair value of the goods or services received from parties other than employees can be measured reliably (and, consequently, has the entity measured the fair value of goods and services received from such parties by reference to the equity instruments granted)? The effect of share-based payment transactions on the entitys profit or loss for the period and on The entity shall disclose information that enables users of the financial statements to understand the effect of share-based payment transactions on the entitys profit or loss for the period and on its financial position.
90
04/26/2013 13:17:05
D 93
a) the total expense recognised for the period arising from share-based payment transactions in which the goods or services received did not qualify for recognition as assets (and hence were recognised as an expense); b) the portion of the total expense recognised for the period that arises from transactions accounted for as equity-settled share-based payment transactions; c) the total carrying amount at the end of the period for liabilities arising from share-based payment transactions; and d) the total intrinsic value at the end of the period of liabilities arising from share-based payment transactions for which the counterpartys right to cash or other assets had vested by the end of the period (e.g. vested share appreciation rights).
94
95
96
97 Additional information
If the detailed information specified for disclosure by IFRS 2 (as set out above) does not satisfy the principles in paragraphs 44, 46 and 50 of IFRS 2, the entity shall disclose such additional information as is necessary to satisfy those principles.
98
99 Transitional provisions
For all grants of equity instruments to which IFRS 2 has not been applied (e.g. equity instruments granted on or before 7 November 2002), the entity shall nevertheless disclose the information required by paragraphs 44 and 100 45 of IFRS 2 (see above).
04/26/2013 13:17:05
F 1 2 3
PresentTQSummary
5 12 13 14 16 17 19 20 28 47
Comments
48
50
77
80
89
90 92
04/26/2013 13:17:05
F 93
94
95
96
97
98
99
100
04/26/2013 13:17:05
B 1 2 3
TQ
C
Index
IFRS 3
Reference
04/26/2013 13:17:06
D 1 2 3
Business Combinations
Recognition/measurement requirement This section of the questionnaire addresses IFRS 3, which was issued in January 2008. IFRS 3 prescribes the accounting treatment for business combinations. A business combination is a transaction or other event in which an acquirer obtains control of one or more businesses (e.g. through mergers, acquisitions or the acquisition of assets). For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
6 29 32 Scope
389
391 412 A business combination achieved without the transfer of consideration 413
Was the business combination achieved without transfer of consideration?
653 Contingent consideration 654 additional information obtained after that date about facts and circumstances that existed at the acquisition
date? Were changes in the fair value of contingent consideration recognised after the acquisition date due to
04/26/2013 13:17:06
F 1 2 3
AcctTQSummary
6 29 32 33 34 301 302 336 337 389 390 391 412 413 434 435 653 654 688 689
Comments
04/26/2013 13:17:06
B 1 2 3 4 5 18 19 20 151 152
3B 3A
C
Index
IFRS 3
Reference
Reference
04/26/2013 13:17:06
D 1 2 3 4 5 18
Business Combinations
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IFRS 3 as revised in 2008 which prescribes the accounting treatment for business combinations. For additional guidance, select Show in the next column Presentation/disclosure requirement The nature and financial effect of business combinations that occur during the current period or Has the entity entered into a business combination during the current or prior reporting period? Yes / No / N/A
151 Business combinations occurring after the reporting period 152 statements are authorised for issue?
Is the acquisition date of a business combination after the end of the reporting period but before the financial
04/26/2013 13:17:06
F 1 2 3 4 5 18 19 20 151 152
Comments PresentTQSummary
N o
04/26/2013 13:17:06
B 1 3 4
TQ
C
Index
IFRS 4
Reference
Insurance Contracts
Recognition/measurement requirement This section of the questionnaire addresses IFRS 4, which specifies the financial reporting for insurance contracts by an entity that issues such contracts (described as an insurer). IFRS 4 is an interim measure until the IASB completes the second phase of its project on insurance contracts. For additional Guidance, select "Show" in the next column
6 29 30 31 32 34 215
4D 4A TQ Reference
Recognition/measurement requirement Detailed compliance Questions Scope Definition of an insurance contract Has the entity issued any insurance contracts (including reinsurance contracts) or does it hold any reinsurance contracts? Embedded derivatives Are there any embedded derivatives in insurance contracts which the entity has issued, apart from an embedded derivative which is itself an insurance contract? Unbundling of deposit components
Do any of the insurance contracts which the entity has issued contain both an insurance component and a deposit component? Recognition and measurement Temporary exemptions from some other IFRSs Changes in accounting policies Has the insurer changed its accounting policies for insurance contracts? Insurance contracts acquired in a business combination or portfolio transfer Did the entity assume any insurance liabilities or acquire any insurance assets in a business combination (as defined in IFRS 3)? OR Did the entity acquire a portfolio of insurance contracts? Discretionary participation features in insurance contracts
616 654
4C
Has the entity issued an insurance contract which contains a discretionary participation feature (see Guidance) as well as a guaranteed element? Discretionary participation features in financial instruments Has the entity issued financial instruments with a discretionary participation feature?
04/26/2013 13:17:06
E 1 3 4
F
AcctTQSummary
N/A
6 29 30 31 32 34 215 216 298 299 357 358 508 510 615 616 654 657 725 726
Yes / No / N/A Comments
04/26/2013 13:17:06
B 1 2 3
TQ
C
Index
IFRS 4
Reference
5 15 16 18 19 20 21 22
4A IFRS 4:14(d) 4 TQ Reference
23 35 36 44 45 47 48
IFRS 4:37(a) IFRS 4:37(b) IFRS 4:36 4B IFRS 4:35(b)
49
4C IFRS 4:37(b) IFRS 4:37(c)
54 60
IFRS 4:37(d)
62
IFRS 4:37(e)
63 66
IFRS 4:38
67
04/26/2013 13:17:06
B 69 70 71 72 73
C
IFRS 4:39(a) IFRS 4:39(a) IFRS 4:39(c)
77
78
IFRS 4:39(d)
82
IFRS 4:39(e)
85 86
04/26/2013 13:17:06
D 1 2 3
Insurance Contracts
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IFRS 4, which specifies the financial reporting for insurance contracts by an entity that issues such contracts (described as an insurer). IFRS 4 is an interim measure until the IASB completes the second phase of its project on insurance contracts.
5 15 16
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity issue any insurance contracts (including reinsurance contracts) or hold any reinsurance contracts? Yes / No / N/A Yes
21 contracts.
22 Insurance contracts acquired in a business combination or portfolio transfer 23 defined in IFRS 3) or acquire a portfolio of insurance contracts?
Did the entity assume any insurance liabilities or acquire any insurance assets in a business combination (as
49
b) the recognised assets, liabilities, income and expense (and, if it presents its statement of cash flows using the direct method, cash flows) arising from insurance contracts; c) Is the insurer a cedant (i.e. the policyholder under a reinsurance contract)?
54 60
d) the process used to determine the assumptions that have the greatest effect on the measurement of the recognised amounts described in accordance with paragraph 37(b) of IFRS 4 (see above); e) the effect of changes in assumptions used to measure insurance assets and insurance liabilities, showing separately the effect of each change that has a material effect on the financial statements; and f) reconciliations of changes in insurance liabilities, reinsurance assets and, if any, related deferred acquisition costs.
62
63
66 Nature and extent of risks arising from insurance contracts 67 extent of risks arising from insurance contracts.
The insurer shall disclose information that enables users of its financial statements to evaluate the nature and
04/26/2013 13:17:06
D 69 70 71 72 73
The insurer shall disclose: a) b) its objectives, policies and processes for managing risks arising from insurance contracts; the methods used to manage those risks;
c) information about insurance risk (both before and after risk mitigation by reinsurance), including information about: i) sensitivity to insurance risk
77
ii) concentrations of insurance risk, including a description of how management determines concentrations and a description of the shared characteristic that identifies each concentration (e.g. type of insured event, geographical area, or currency); and iii) actual claims compared with previous estimates (i.e. claims development);
78
82
d) information about credit risk, liquidity risk and market risk that paragraphs 31 to 42 of IFRS 7 would require if the insurance contracts were within the scope of IFRS 7; and e) information about exposures to market risk arising from embedded derivatives contained in a host insurance contract if the insurer is not required to, and does not, measure the embedded derivatives at fair value.
85 86
04/26/2013 13:17:06
F 1 2 3
PresentTQSummary
5 15 16 18 19 20 21 22 23 35 36 44 45 47 48
Comments
49
54 60
62
63 66 67
04/26/2013 13:17:06
F 69 70 71 72 73
77
78
82
85 86
04/26/2013 13:17:06
B 1 2 3
TQ
C
Index
IFRS 5
Reference
5 24 26
5A TQ Reference
27
5B 5C
04/26/2013 13:17:06
D 1 2 3
5 24
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
27
04/26/2013 13:17:07
F 1 2 3
AcctTQSummary
5 24 26
Comments
27
04/26/2013 13:17:07
B 1 2 3
TQ
C
Index
IFRS 5
Reference
5 16
5 Reference
17 19 42
IFRS 5:30 5A
43 45 46 94 95 108
5D IFRS 5:12 5C 5B
109
04/26/2013 13:17:07
D 1 2 3
5 16 17 19
43 financial effects of discontinued operations and disposals of non-current assets (or disposal groups). 45 Presenting discontinued operations 46
Did the entity have any discontinued operations?
94 Additional disclosures 95
Did the entity sell any non-current assets or disposal groups during the reporting period? Non-current assets (or disposal groups) meeting the criteria for classification as held for sale after Are the criteria in paragraphs 7 and 8 of IFRS 5 for classification as held for sale met after the reporting period
109 but before the authorisation of the financial statements for issue?
04/26/2013 13:17:07
F 1 2 3
PresentTQSummary
5 16 17 19 42 43 45 46 94 95 108 109
Comments
04/26/2013 13:17:07
B 1 2 3 4
TQ
C
Index
IFRS 6
Reference
6 12 13 14
6A TQ Reference
15 16
6B
04/26/2013 13:17:07
D 1 2 3 4
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
Has the entity capitalised any exploration and evaluation expenditure as an asset?
04/26/2013 13:17:07
F 1 2 3 4
AcctTQSummary
No
N / A Guidance
Show
5
6 12 13 14 15 16
Comments
Hide
No Guidance
04/26/2013 13:17:07
B 1 2 3 4 5 11 12 14
6A TQ
C
Index
IFRS 6
Reference
Reference
IFRS 6:15
15 17
IFRS 6:17
18 22
IFRS 6:18
23 24
IFRS 6:23
25 27 28
IFRS 6:24(a) IFRS 6:24(b)
29
IFRS 6:25
30
04/26/2013 13:17:07
D 1 2 3 4 5 11 12
14 Classification of exploration and evaluation assets 15 assets acquired, and apply the classification consistently.
An entity shall classify exploration and evaluation assets as tangible or intangible according to the nature of the
17 Reclassification of exploration and evaluation assets 18 commercial viability of extracting a mineral resource are demonstrable. 22 Impairment 23 in accordance with IAS 36 Impairment of Assets (see relevant section of this checklist). 24 evaluation of mineral resources
Any impairment loss recognised in respect of exploration and evaluation assets shall be presented and disclosed An exploration and evaluation asset shall no longer be classified as such when the technical feasibility and
Disclosure of information regarding amounts recognised arising from the exploration for and An entity shall disclose information that identifies and explains the amounts recognised in its financial
25 statements arising from the exploration for and evaluation of mineral resources. 27 An entity shall disclose: 28
a) its accounting policies for exploration and evaluation expenditures including the recognition of exploration and evaluation assets; and b) the amounts of assets, liabilities, income and expense and operating and investing cash flows arising from the exploration for and evaluation of mineral resources. The entity shall treat exploration and evaluation assets as a separate class of assets and make the disclosures required by either IAS 16 Property, Plant and Equipment, or IAS 38 Intangible Assets, consistent with how the assets are classified.
29
30
04/26/2013 13:17:07
F 1 2 3 4 5 11 12 14 15 17 18 22 23 24 25 27 28
Comments PresentTQSummary
29
30
04/26/2013 13:17:07
B 1 2 3
TQ
C
Index
IFRS 7
Reference
6 14 15 16
7A IFRS 7:6 TQ Reference
18
IFRS 7:6
19 24
IFRS 7:7
25 34 35 36 37 38 39 40 41 42 43 44
IFRS 7:8(b) IFRS 7:8(c) IFRS 7:8(d) IFRS 7:8(e) IFRS 7:8(a)
04/26/2013 13:17:07
IFRS 7:8(f)
IFRS 7:13A
304
332 333
IFRS 7:15
338 356 357 360 361 379 380 391 392 393 394 395
IFRS 7:20(a)
396
04/26/2013 13:17:07
IFRS 7:20(b)
400
IFRS 7:20(c)
401 402
403
IFRS 7:20(d) IFRS 7:20(e)
IFRS 7:21
480
576
IFRS 7:27
579
IFRS 7:27
581 582
584
IFRS 7:27B(b)
IFRS 7:27B(c)
591
04/26/2013 13:17:07
B 592
IFRS 7:27B(c)
597
IFRS 7:27B(d)
598
599
IFRS 7:27B(e)
606
IFRS 7:28
614
IFRS 7:29(a)
623
IFRS 7:29(b)
624
625
IFRS 7:29(c)
627
04/26/2013 13:17:07
B 638 674
C
IFRS 7:30
IFRS 7:31
706
IFRS 7:34(b)
752
IFRS 7:36(b)
757
758 759
IFRS 7:36(c)
IFRS 7:36(d)
04/26/2013 13:17:08
B 790 791
C
IFRS 7:37(a) IFRS 7:37(b)
792 793
IFRS 7:37(c) IFRS 7:38
799
818 819
IFRS 7:39(a)
820
IFRS 7:39(b)
821
IFRS 7:39(c)
IFRS 7:B10A
IFRS 7:B10A
826
827
IFRS 7:B11E
852
IFRS 7:B11F
04/26/2013 13:17:08
873
IFRS 7:40(b) IFRS 7:40(c) IFRS 7:41 IFRS 7:42
917
940
IFRS 7:44M
941
IFRS 7:42A
942
04/26/2013 13:17:08
B 1008 1091
C
IFRS 7:42E
IFRS 7:44M
1092
04/26/2013 13:17:08
D 1 2 3
Appendix B to IFRS 7 contains application guidance that is an integral part of the Standard. References to the relevant paragraphs of Appendix B are noted below.
IFRS 9 Financial Instruments issued in November 2009 and amended in October 2010 makes a number of consequential amendments to IFRS 7. IFRS 9 is effective for annual periods beginning on or after 1 January 2015, with earlier application permitted. The consequential amendments to IFRS 7 should be applied when the entity applies IFRS 9.
This section of the checklist assumes that the entity has not yet adopted IFRS 9 and does not reflect the consequential amendments to IFRS 7 added by IFRS 9. Entities that have adopted IFRS 9 in advance of its effective date should complete the questionnaire in the tab "IFRS7P(amended)" of this checklist.
6 14
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
18
19 to permit reconciliation to the line items presented in the statement of financial position. 24 Significance of financial instruments for financial position and performance 25 financial instruments for its financial position and performance. 34 Statement of financial position 35 Categories of financial assets and financial liabilities
When IFRS 7 requires disclosure by class of financial instrument, the entity shall provide sufficient information
An entity shall disclose information that enables users of its financial statements to evaluate the significance of
36 Recognition and Measurement, shall be disclosed either in the statement of financial position or in the notes: 37 38 39 40 41 42 43 44
b) c) d) e) i) a) financial assets at fair value through profit or loss, showing separately: i) ii) those designated as such upon initial recognition; and those classified as held for trading in accordance with IAS 39;
The carrying amounts of each of the following categories, as defined in IAS 39 Financial Instruments:
held-to-maturity investments; loans and receivables; available-for-sale financial assets; financial liabilities at fair value through profit or loss, showing separately: those designated as such upon initial recognition; and
04/26/2013 13:17:08
D 45 46
f) ii) those classified as held for trading in accordance with IAS 39; and
82 Financial assets or financial liabilities at fair value through profit or loss 83 or loss?
Has the entity designated a loan or receivable (or group of loans or receivables) as at fair value through profit Has the entity designated a financial liability as at fair value through profit or loss in accordance with paragraph
281 Derecognition 282 derecognition (see paragraphs 15 to 37 of IAS 39)? 300 Offsetting financial assets and financial liabilities 301 32P)? 303
Does the entity have any recognised financial instruments which are set off in accordance with IAS 32 (see IAS Did the entity transfer financial assets in such a way that part or all of the financial assets do not qualify for
Irrespective of whether the instruments are offset in the statement of financial position, does the entity have any recognised financial instruments that are subject to an enforceable master netting arrangement or similar agreement (e.g. derivative clearing agreements, global master purchase agreements, global master securities lending agreements and any related 304 rights to financial collateral)?
338 repledge the collateral in the absence of default by the owner of the collateral? 356 Allowance account for credit losses 357
Does the entity hold any financial assets impaired by credit losses?
391 Statement of comprehensive income 392 Items of income, expense, gains or losses 393 comprehensive income or in the notes: 394 395
a) net gains or net losses on: i) financial assets or financial liabilities at fair value through profit or loss, showing separately those on financial assets or financial liabilities designated as such upon initial recognition, and those on financial assets or financial liabilities that are classified as held for trading; ii) available-for-sale financial assets, showing separately the amount of gain or loss recognised in other comprehensive income during the period and the amount reclassified from equity to profit or loss for the period; The entity shall disclose the following items of income, expense, gains or losses either in the statement of
396
04/26/2013 13:17:08
b) total interest income and total interest expense (calculated using the effective interest method) for financial assets or financial liabilities that are not at fair value through profit or loss; c) fee income and expense (other than amounts included in determining the effective interest rate) arising from: i) financial assets or financial liabilities that are not at fair value through profit or loss; and
401 402
403
d) and e)
ii) trust and other fiduciary activities that result in the holding or investing of assets on behalf of individuals, trusts, retirement benefit plans, and other institutions; interest income on impaired financial assets accrued in accordance with paragraph AG93 of IAS 39; the amount of any impairment loss for each class of financial asset.
404 405
579
If there has been a change in valuation technique, the entity shall disclose that change and the reason for
For fair value measurements recognised in the statement of financial position an entity shall disclose for each a) the level in the fair value hierarchy into which the fair value measurements are categorised in their entirety, segregating fair value measurements in accordance with the levels defined in paragraph 27A (see guidance); b) any significant transfers between Level 1 and Level 2 of the fair value hierarchy and the reasons for those transfers, separately for: i. ii. transfers into each level; and transfers out of each level.
584
c) for fair value measurements in Level 3 of the fair value hierarchy, a reconciliation from the beginning balances to the ending balances, disclosing separately changes during the period attributable to the following:
04/26/2013 13:17:08
D 592
i) total gains or losses for the period recognised in profit or loss, and a description of where they are presented in the statement of comprehensive income or the separate income statement (if presented); i) total gains or losses for the period recognised in profit or loss, and a description of where they are presented in the statement(s) of profit or loss and other comprehensive income; ii) iii) total gains or losses recognised in other comprehensive income; purchases, sales, issues and settlements (each type of movement disclosed separately); and
597
iv) transfers into or out of Level 3 (e.g. transfers attributable to changes in the observability of market data) and the reasons for those transfers. For significant transfers, transfers into Level 3 shall be disclosed and discussed separately from transfers out of Level 3; d) the amount of total gains or losses for the period in (c)(i) above included in profit or loss that are attributable to gains or losses relating to those assets and liabilities held at the end of the reporting period and a description of where those gains or losses are presented in the statement of comprehensive income or the separate income statement (if presented); and
598
599
d) the amount of total gains or losses for the period in (c)(i) above included in profit or loss that are attributable to gains or losses relating to those assets and liabilities held at the end of the reporting period and a description of where those gains or losses are presented in the statement(s) of profit or loss and other comprehensive income; and
e) for fair value measurements in Level 3, if changing one or more of the inputs to reasonably possible alternative assumptions would change fair value significantly, the entity shall
i. ii.
iii. disclose how the effect of a change to a reasonably possible alternative assumption was calculated. When the market for a financial instrument is not active, does a difference exist between the fair value at initial recognition and the amount that would be determined at that date using a valuation technique (see guidance)?
606
When fair value of a financial asset or financial liability at initial recognition is neither evidenced by a quoted price in an active market for an identical asset or liability nor based on a valuation technique that uses only 614 data from observable markets, has the entity not recognised a gain or loss on initial recognition? Disclosures of fair value are not required:
623
a) when the carrying amount is a reasonable approximation of fair value (e.g. for financial instruments such as short-term trade receivables and payables); b) for an investment in equity instruments that do not have a quoted market price in an active market, or derivatives linked to such equity instruments, that is measured at cost because its fair value cannot be measured reliably; or b) for an investment in equity instruments that do not have a quoted price in an active market for an identical instrument (i.e. a Level 1 input), or derivatives linked to such equity instruments, that is measured at cost because its fair value cannot otherwise be measured reliably; or c) for a contract containing a discretionary participation feature (as described in IFRS 4 Insurance Contracts) if the fair value of that feature cannot be measured reliably.
624
625
627
04/26/2013 13:17:08
D 638
Do the cases described in paragraphs 29(b) and (c) of IFRS 7 (see above) apply to the entity?
674 Nature and extent of risks arising from financial instruments 675 extent of risks arising from financial instruments to which the entity is exposed at the end of the reporting
period. The entity shall disclose information that enables users of its financial statements to evaluate the nature and
681 Qualitative disclosures 682 For each type of risk arising from financial instruments, the entity shall disclose: 683 684 685
a) the exposures to that risk and how they arise;
b) its objectives, policies and processes for managing the risk and the methods used to measure the risk; and c) any changes in 33(a) or (b) (see above) from the previous period.
704 Quantitative disclosures 705 For each type of risk arising from financial instruments, the entity shall disclose:
a) summary quantitative data about its exposure to that risk at the end of the reporting period. This disclosure shall be based on the information provided internally to key management personnel of the entity (as defined in IAS 24 Related Party Disclosures) (e.g. the entitys board of directors or chief executive officer); b) the disclosures required by paragraphs 36 to 42 of IFRS 7 (see below), to the extent not provided in paragraph 34(a) (see above), unless the risk is not material; and c) concentrations of risk if not apparent from 34(a) and (b) (see above).
706
708 710
b) a description of the shared characteristics that identifies each concentration (e.g. counterparty, geographical area, currency or market); and c) the amount of the risk exposure associated with all financial instruments sharing that characteristic.
722
If the quantitative data disclosed as at the end of the reporting period are unrepresentative of an entitys exposure to risk during the period, an entity shall provide further information that is representative.
750 Credit risk 751 The entity shall disclose by class of financial instrument:
a) the amount that best represents its maximum exposure to credit risk at the end of the reporting period without taking account of any collateral held or other credit enhancements (e.g. netting agreements that do not qualify for offset in accordance with IAS 32 Financial Instruments: Presentation) (see also IFRS 7:B9 and B10); b) a description of collateral held as security and of other credit enhancements, and their financial effect (e.g. a quantification of the extent to which collateral and other credit enhancements mitigate credit risk) in respect of the amount that best represents the maximum exposure to credit risk (whether disclosed in accordance with IFRS 7:36(a) (see above) or represented by the carrying amount of a financial instrument)
752
757
758 759
c)
information about the credit quality of financial assets that are neither past due nor impaired.
d)
[deleted];
04/26/2013 13:17:08
792 793
Did the entity obtain financial or non-financial assets during the period by taking possession of collateral it held as security or calling on other credit enhancements (e.g. guarantees), and did such assets meet the recognition 799 criteria in other IFRSs?
821
c)
a description of how it manages the liquidity risk inherent in 39(a) and 39 (b) (see above).
The entity shall explain how the summary quantitative data about its exposure to liquidity risk are determined.
If the outflows of cash (or another financial asset) included in those data could either: a) occur significantly earlier than indicated in the data, or
826
b) be for significantly different amounts from those indicated in the data (e.g. for a derivative that is not included in the data on a net settlement basis but for which the counterparty has the option to require gross settlement),
the entity shall state that fact and provide quantitative information that enables users of its financial statements to evaluate the extent of this risk unless that information is included in the contractual maturity analyses 827 required by paragraph 39(a) or (b). In describing how an entity manages the liquidity risk inherent in the items disclosed in the quantitative disclosures required in paragraph 39(a) and 39(b) of IFRS 7 (as required by paragraph 39(c) of IFRS 7), an entity shall disclose a maturity analysis of financial assets it holds for managing liquidity risk (e.g. financial assets that are readily saleable or expected to generate cash inflows to meet cash outflows on financial 852 liabilities), if that information is necessary to enable users of its financial statements to evaluate the nature and extent of liquidity risk.
853 are not limited to, whether the entity: 854 855 856 857
Other factors that an entity might consider in providing the disclosure required in paragraph 39(c) include, but a) has committed borrowing facilities (e.g. commercial paper facilities) or other lines of credit (e.g. stand-by credit facilities) that it can access to meet liquidity needs; b) c) d) holds deposits at central banks to meet liquidity needs; has very diverse funding sources; has significant concentrations of liquidity risk in either its assets or its funding sources;
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f) has instruments that include accelerated repayment terms (e.g. on the downgrade of the entitys credit rating); g) has instruments that could require the posting of collateral (e.g. margin calls for derivatives);
861 862
h) has instruments that allows the entity to choose whether it settles its financial liabilities by delivering cash (or another financial asset) or by delivering its own shares; or i) has instruments that are subject to master netting agreements.
873
c) changes from the previous period in the methods and assumptions used, and the reasons for such changes. Did the entity prepare a sensitivity analysis, such as value-at-risk, in accordance with IFRS 7.41?
When the sensitivity analyses disclosed in accordance with paragraphs 40 or 41 of IFRS 7 (see above) are unrepresentative of a risk inherent in a financial instrument (for example, because the year-end exposure does 917 not reflect the exposure during the year), the entity shall disclose that fact and the reason it believes the sensitivity analyses are unrepresentative.
941
942
Has the entity transferred all or a part of a financial asset (the transferred financial asset) by any of the transferring the contractual rights to receive the cash flows of that financial asset; or retaining the contractual rights to receive the cash flows of that financial asset, but assuming a
945 contractual obligation to pay the cash flows to one or more recipients in an arrangement. 973 Transferred Financial Assets That Are Not Derecognised in Their Entirety 974 qualify for derecognition?
Has the entity transferred financial assets in such a way that part or all of the transferred financial assets do not
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D
Has the entity derecognised transferred financial assets in their entirety (see paragraph 20(a) and (c)(i) of IAS 1008 39) but has continuing involvement in them?
1091 Adoption of amendments to Standard in advance of effective date 1092 (Amendments to IFRS 7) issued in October 2010 before 1 July 2011 it shall disclose that fact.
If the entity has applied paragraphs 42A-42H arising from Disclosures - Transfers of Financial Assets
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F 1 2 3
PresentTQSummary
6 14 15 16
18
19 24 25 34 35 36 37 38 39 40 41 42 43 44
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304
332 333
338 356 357 360 361 379 380 391 392 393 394 395
396
04/26/2013 13:17:08
401 402
403
480
579
581 582
584
04/26/2013 13:17:08
F 592
597
598
599
606
614
623
624
625
627
04/26/2013 13:17:09
F 638 674 675 681 682 683 684 685 704 705
706
752
757
758 759
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F 790 791
792 793
799
821
826
827
852
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873
917
940
941
942
04/26/2013 13:17:09
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B 1 2 3
TQ
C
Index
IFRS 7 (amended)
Reference
6 14 15 16 1073 1074
7B 7A TQ Reference
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D 1 2 3
Appendix B to IFRS 7 contains application guidance that is an integral part of the Standard. References to the relevant paragraphs of Appendix B are noted below. IFRS 9 Financial Instruments issued in November 2009 and amended in October 2010 makes a number of consequential amendments to IFRS 7. IFRS 9 is effective for annual periods beginning on or after 1 January 2015, with earlier application permitted. The consequential amendments to IFRS 7 should be applied when the entity applies IFRS 9.
This section of the checklist should be completed if and only if the entity has adopted IFRS 9 in advance of its effective date. The presentation and disclosure requirements in IFRS 7 for entities that have not yet adopted IFRS 9 are set out in the preceding tab "IFRS7P" of this checklist.
6 14
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
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F 1 2 3
PresentTQSummary
6 14 15 16 1073 1074
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B 1 2 3 4 5 20 21 8A 22
TQ TQ
C
Index
IFRS 8
Reference
Reference
23
24
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Operating Segments
Presentation/disclosure requirement This section of the checklist addresses IFRS 8, which requires certain entities to report information regarding the nature and financial effects of their various operating segments. For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
(b) file or is in the process of filing, its (consolidated) financial statements with a securities commission or other
23 regulatory organisation for the purpose of issuing any class of instruments in a public market; or
(c) choose to disclose voluntary information about segments that is described as segment information.
24
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F 1 2 3 4 5 20 21 22
Comments PresentTQSummary
23
24
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B 1 2 3
TQ
C
Index
IFRS 9(2009)
Reference
04/26/201313:17:09
B 400
C
IFRS 9:8.1.1
425
IFRS 9:8.2.1
426
IFRS 9:8.2.2
429
430 431
IFRS 9:8.2.3
432
IFRS 9:8.2.4
433
IFRS 9:8.2.4 IFRS 9:8.2.5
434
435
IFRS 9:8.2.5
436
IFRS 9:8.2.6
438
439
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B 443
IFRS 9:8.2.7
444
445 446
IFRS 9:8.2.8
447
IFRS 9:8.2.8
449
IFRS 9:8.2.9
IFRS 9:8.2.9
453
IFRS 9:8.2.10
454
IFRS 9:8.2.10
455
IFRS 9:8.2.11
456
IFRS 9:8.2.11
457
IFRS 9:8.2.11
459
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D 1 2 3
Financial Instruments
Recognition/measurement requirement In 2009, the IASB announced an accelerated timetable for replacing IAS 39 Financial Instruments: Recognition and Measurement in response to the input received from a number of constituents. The IASB divided its project to replace IAS 39 into three main phases, including classification and measurement, impairment methodology and hedge accounting. Accordingly, in November 2009, the IASB issued the chapters of IFRS 9 Financial Instruments relating to the classification and measurement of financial assets. IFRS 9(2009) is effective for annual periods beginning on or after 1 January 2015 with earlier application permitted.
This section of the checklist addresses the recognition and measurement requirements of IFRS 9, as issued in November 2009. The objective of this IFRS is to establish principles for the financial reporting of financial assets that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of the entitys future cash flows.
In conjunction with requirements outlined herein, an entity applying IFRS 9, as issued in November 2009, must also apply the recognition and measurement requirements of IAS 39 insofar is it relates to financial liabilities, hedging and impairment. See relevant requirements in the IAS39A tab.
This section of the checklist should not be used by entities which have early adopted the requirements of IFRS 9, as issued in October 2010. For entities early adopting IFRS 9, as issued in October 2010, relevant requirements are set forth in the IFRS9A(2010) tab. For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
17 67
68 Detailed compliance Questions 69 Initial recognition of financial assets 70 Does the entity have financial assets that are within the scope of IAS 39? 141 Option to designate a financial asset at fair value through profit or loss 142
Has the entity designated financial assets at fair value through profit or loss?
267 Has the entity applied hedge accounting? 298 Reclassification 299
Has the entity reclassified financial assets?
365 Investments in equity instruments 366 Has the entity got financial assets which are equity instruments? 399 Effective date
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D
An entity shall apply IFRS 9 for annual periods beginning on or after 1 January 2015. Earlier application is permitted. If an entity applies IFRS 9 in its financial statements for a period beginning before 1 January 2015, it 400 shall at the same time apply the amendments to other IFRSs in Appendix C.
425 Transition
An entity shall apply this IFRS retrospectively, except as specified in paragraphs 8.2.48.2.13 (see below). This 426 IFRS shall not be applied to financial assets that have already been derecognised at the date of initial application. For the purposes of the transition provisions in paragraphs 8.2.1 and 8.2.38.2.13, the date of initial application is the date when an entity first applies the requirements of this IFRS. The date of initial application may be:
429
a) any date between the issue of this IFRS and 31 December 2010, for entities initially applying this IFRS
430 before 1 January 2011; or 431 applying this IFRS on or after 1 January 2011.
b) the beginning of the first reporting period in which the entity adopts this IFRS, for entities initially
432 and the reasons for using that date of initial application?
If the date of initial application is not at the beginning of a reporting period, has the entity disclosed that fact
433 paragraph 4.2(a) of IFRS 9 on the basis of the facts and circumstances that exist at the date of initial
application?
Has the entity, at the date of initial application, assessed whether a financial asset meets the condition in
Has the resulting classification been applied retrospectively irrespective of the entitys business model in prior
If an entity measures a hybrid contract at fair value in accordance with paragraph 4.4 or paragraph 4.5 of IFRS 9 but the fair value of the hybrid contract had not been determined in comparative reporting periods, is the fair value of the hybrid contract in the comparative reporting periods the sum of the fair values of the components 435 (i.e. the non-derivative host and the embedded derivative) at the end of each comparative reporting period?
If an entity measures a hybrid contract at fair value in accordance with paragraph 4.4 or paragraph 4.5 of IFRS 9 but the fair value of the hybrid contract had not been measured in comparative reporting periods, is the fair value of the hybrid contract in the comparative reporting periods the sum of the fair values of the components 436 (i.e. the non-derivative host and the embedded derivative) at the end of each comparative reporting period?
Has the entity, at the date of initial application, recognised any difference between the fair value of the entire hybrid contract at the date of initial application and the sum of the fair values of the components of the hybrid 438 contract at the date of initial application: a) in the opening retained earnings of the reporting period of initial application if the entity initially applies
440 441
b) in profit or loss if the entity initially applies this IFRS during a reporting period?
Has the entity considered an option to, at the date of initial application, designate: a) a financial asset as measured at fair value through profit or loss in accordance with paragraph 4.5 of IFRS
442 9; or
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D
b) an investment in an equity instrument as at fair value through other comprehensive income in accordance 443 with paragraph 5.4.4 of IFRS 9? If at the date of initial application the entity has designated a financial asset as measured at fair value through profit or loss in accordance with paragraph 4.5 of IFRS 9; or designated an investment in an equity instrument as at fair value through other comprehensive income in accordance with paragraph 5.4.4 of IFRS 9, has such 444 designation been made on the basis of the facts and circumstances that exist at the date of initial application, and has the classification been applied retrospectively?
447 through profit or loss if that financial asset meets the condition in paragraph 4.5 of IFRS 9?
449
Has such revocation been made on the basis of the facts and circumstances that exist at the date of initial application, and the classification been applied retrospectively?
450 451
Has the entity, at the date of initial application, applied paragraph 103M of IAS 39 to determine when it: a) may designate a financial liability as measured at fair value through profit or loss; and b) shall or may revoke its previous designation of a financial liability as measured at fair value through profit
452 or loss?
453
Has such revocation been made on the basis of the facts and circumstances that exist at the date of initial application, and the classification been applied retrospectively?
If it is impracticable (as defined in IAS 8) for an entity to apply retrospectively the effective interest method or the impairment requirements in paragraphs 5865 and AG84AG93 of IAS 39, has the entity treated the fair 454 value of the financial asset at the end of each comparative period as its amortised cost if the entity restates prior periods? In those circumstances, has the entity treated the fair value of the financial asset at the date of initial 455 application as the new amortised cost of that financial asset at the date of initial application of this IFRS? If an entity previously accounted for an investment in an unquoted equity instrument (or a derivative that is linked to and must be settled by delivery of such an unquoted equity instrument) at cost in accordance with IAS 456 39, has it measured that instrument at fair value at the date of initial application? If an entity previously accounted for an investment in an equity instrument that does not have a quoted price in an active market for an identical instrument (i.e. a Level 1 input) (or a derivative that is linked to and must be 457 settled by delivery of such an equity instrument) at cost in accordance with IAS 39, has it measured that instrument at fair value at the date of initial application? Has the entity recognised any difference between the previous carrying amount and fair value in the opening
459 retained earnings of the reporting period that includes the date of initial application?
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F 1 2 3 Guidance
AcctTQSummary
Show
Hide 6
17 67 68 69 70 141 142 182 183 267 298 299 365 366 399
Comments
No
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F 400
425 426
429
430 431
432
433
434
435
436
438
439
04/26/201313:17:10
F 443
444
445 446
447
449
453
454
455
456
457
459
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B 1 2 3
TQ
C
Index
IFRS 9(2009)
Reference
9 36 37 38 40 41
9A IFRS 9:8.1.1 TQ Reference
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D 1 2 3
Financial Instruments
Presentation/disclosure requirement In 2009, the IASB announced an accelerated timetable for replacing IAS 39 Financial Instruments: Recognition and Measurement in response to the input received from a number of constituents. The IASB divided its project to replace IAS 39 into three main phases, including classification and measurement, impairment methodology and hedge accounting. Accordingly, in November 2009, the IASB issued the chapters of IFRS 9 Financial Instruments relating to the classification and measurement of financial assets. IFRS 9(2009) is effective for annual periods beginning on or after 1 January 2015 with earlier application permitted.
IFRS 9, as issued in November 2009, does not generally provide presentation and disclosure requirements IFRS 7 Financial Instruments: Disclosures and IAS 32 Financial Instruments: Presentation are the Standards providing guidance in these areas (see relevant sections of this checklist). In conjunction with requirements outlined herein, an entity applying IFRS 9, as issued in November 2009, must also apply the presentation and disclosure requirements of IAS 39 insofar is it relates to financial liabilities, hedging and impairment. See relevant requirements in the IAS39P tab.
This section of the checklist should not be used by entities which have early adopted the requirements of IFRS 9, as issued in October 2010. For entities early adopting IFRS 9, as issued in October 2010, relevant requirements are set forth in the IFRS9P(2010) tab.
9 36 37
For additional guidance, select Show in the next column Presentation/disclosure requirement Adoption of Standard in advance of effective date Has the entity applied IFRS 9 (and the amendments to other IFRSs listed in Appendix C of IFRS 9) for a period It shall disclose that fact. Is the date of initial application of IFRS 9 not at the beginning of a reporting period? Yes Yes / No / N/A
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F 1 2 3
PresentTQSummary
9 36 37 38 40 41
04/26/201313:17:10
H 1 2 3
TQ
I
Index
IFRS 9(2010)
Reference
229 310 9I 317 340 341 408 409 9K 417 419 444 445
9L 9J
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1 2 3
Financial Instruments
Recognition/measurement requirement In 2009, the IASB announced an accelerated timetable for replacing IAS 39 Financial Instruments: Recognition and Measurement in response to the input received from a number of constituents. The IASB divided its project to replace IAS 39 into three main phases, including classification and measurement, impairment methodology and hedge accounting. Accordingly, in November 2009, the IASB issued the chapters of IFRS 9 Financial Instruments relating to the classification and measurement of financial assets and in October 2010 it added the requirements for classification and measurement of financial liabilities and carried forward the requirements for derecognition of financial assets and financial liabilities included in IAS 39. IFRS 9 is effective for annual periods beginning on or after 1 January 2015 with earlier application permitted.
This section of the checklist addresses IFRS 9, which prescribes the accounting treatment for financial instruments. The objective of this IFRS is to establish principles for the financial reporting of financial assets and financial liabilities that will present relevant and useful information to users of financial statements for their assessment of the amounts, timing and uncertainty of the entitys future cash flows.
9 60
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
187 Option to designate a financial asset at fair value through profit or loss 188 Has the entity designated financial assets at fair value through profit or loss? 196 Option to designate a financial liability at fair value through profit or loss 197
Has the entity designated financial liabilities at fair value through profit or loss?
228 Embedded derivatives 229 instrument vary in a way similar to a standalone derivative? 310 Has the entity applied hedge accounting? 317 Fair value measurement 340 Reclassification 341
Has the entity reclassified financial instruments? Does the entity have a hybrid contract with the effect that some of the cash flows of the combined
408 Investments in equity instruments 409 Has the entity got financial assets which are equity instruments? 417 Liabilities designated as at fair value through profit or loss 419
Has the entity got financial liabilities which are designated as at fair value through profit or loss?
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L 1 2 3
AcctTQSummary
Guidance
Show Hide
9 60 61 62 63 69 70 85 133 134 187 188 196 197 228 229 310 317 340 341 408 409 417 419 444 445
Comments
Guidance
04/26/2013 13:17:10
G 1 2 3
TQ
H
Index
IFRS 9
Reference
5 8 9
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G 30 31
9A TQ
H
Reference
32 41 42 43 44 45
TQ
IAS 39
Reference
46
47 55 58 59
39A TQ Reference
04/26/2013 13:17:10
Financial Instruments
Presentation/disclosure requirement In 2009, the IASB announced an accelerated timetable for replacing IAS 39 Financial Instruments: Recognition and Measurement in response to the input received from a number of constituents. The IASB divided its project to replace IAS 39 into three main phases, including classification and measurement, impairment methodology and hedge accounting. Accordingly, in November 2009, the IASB issued the chapters of IFRS 9 Financial Instruments relating to the classification and measurement of financial assets and in October 2010 it added the requirements for classification and measurement of financial liabilities and carried forward the requirements for derecognition of financial assets and financial liabilities included in IAS 39.
5 8 9
IFRS 9 does not generally deal with presentation and disclosure IFRS 7 Financial Instruments: Disclosures and IAS 32 Financial Instruments: Presentation are the Standards providing guidance in these areas (see relevant sections of this checklist).
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I 30
Recognition/measurement requirement
J
Yes / No / N/A
31 Adoption of Standard in advance of effective date 32 period beginning before 1 January 2015? 41 42 43 44 45
Has the entity applied IFRS 9 (and the amendments to other IFRSs listed in Appendix C of IFRS 9) for a
46
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity implement any fair value hedges of the interest rate exposure of a portion of a portfolio of Yes / No / N/A
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K 1 2 3
PresentTQSummary
5 8 9
04/26/2013 13:17:10
K 30 31 32 41 42 43 44 45
Comments
46
47 55 58 59
Comments
04/26/2013 13:17:11
J 1 2 3
TQ
K
Index
IFRS 10
Reference
5 6 11 12 13 18 28 32 85 86
10B IFRS 10:25 10A 10A 10A 10A TQ Reference
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L 1 2 3
5 6 11
IFRS 10 is a replacement of IAS 27 Consolidated and Separate Financial Statements and SIC-12 Consolidation Special Purpose Entities. For additional guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
32 entity's returns?
85 Loss of Control 86
Have changes in reporting entity's ownership interest in a subsidiary resulted in a loss of control?
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N 1 2 3
AcctTQsummary
5 6 11 12 13 18 28 32 85 86
Comments
04/26/2013 13:17:11
H 1 2 3
TQ
I
Index
IFRS 10
Reference
5 11 12 13 19 20
10B 10A TQ Reference
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J 1 2 3
5 11 12 Effective Date 13
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
Is the entity applying IFRS 10 for an annual period beginning before 1 January 2013?
19 Transition 20
Is the entity applying IFRS 10 for the first time?
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L 1 2 3
PresentTQSummary
5 11 12 13 19 20
Comments
04/26/2013 13:17:11
G 1 2 3
TQ
H
Index
IFRS 11
Reference
5 6 24 25 26
11A TQ Reference
04/26/2013 13:17:11
I 1 2 3
Joint Arrangements
Recognition/measurement requirement This section of the questionnaire addresses IFRS 11 Joint Arrangements, which prescribes the accounting for interests in joint arrangements and the reporting of joint arrangement assets, liabilities, income and expenses in the financial statements of joint owners/venturers and investors. Joint arrangements can be structured in many different ways. The Standard identifies two broad types of joint arrangements joint operations and joint ventures.
The primary issues are (i) identifying the existence of joint arrangement and joint control, (ii) identifying the type of joint arrangement, i.e., joint operation or a joint venture and (iii) applying the appropriate accounting treatment for each type of arrangement.
5 6 24
IFRS 11 supersedes IAS 31 Interests in Joint Ventures and SIC-13 Jointly Controlled EntitiesNon-Monetary Contributions by Venturers and is effective for annual periods beginning on or after 1 January 2013.
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
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K 1 2 3
AcctTQsummary
04/26/2013 13:17:11
F 1 2 3
TQ
G
Index
IFRS 11
Reference
5 6 10 11 12 13 19 20 26 27 33 34
11D 11C 11B 11A IFRS 11: C2 TQ Reference
04/26/2013 13:17:11
H 1 2 3
Joint Arrangements
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IFRS 11 Joint Arrangements, which prescribes the accounting for interests in joint arrangements and the reporting of joint arrangement assets, liabilities, income and expenses in the financial statements of joint operators/venturers and investors. Note: The disclosure requirements for parties with joint control of a joint arrangement are specified in IFRS 12 Disclosure of Interests in Other Entities.
5 6 10
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
19 Joint operations 20
Has the entity transitioned from the equity method to accounting for assets and liabilities?
33 Transition 34
Is the entity applying IFRS 11 for the first time?
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J 1 2 3
PresentTQSummary
5 6 10 11 12 13 19 20 26 27 33 34
Comments
04/26/2013 13:17:11
H 1 2 3
TQ
I
Index
IFRS 12
Reference
6 27 29 34
12B 12A TQ Reference
04/26/2013 13:17:11
J 1 2 3
6 27 29
For additional guidance, select Show in the next column Presentation/disclosure requirement Is the entity applying IFRS 12 for the first time? Does the entity have any interests in other entities, for example, subsidiaries, joint arrangements (i.e., joint Yes / No / N/A
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L 1 2 3
PresentTQSummary
6 27 29 34
Comments
04/26/2013 13:17:11
I 1 2 3
TQ
J
Index
IFRS 13
Reference
This section of the questionnaire addresses IFRS 13. This IFRS applies to assets, liabilities, or equity instruments that an entity is required or permitted to measure at fair value and disclosures about fair value measurements (and measurements, such as fair value less costs to sell, based on fair value or disclosures about those measurements), except in specified circumstances. IFRS 13 is effective for annual periods beginning on or after 1 January 2013 with early application permitted.
6 9 28
13A TQ Reference
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Does the entity have any assets or liabilities for which another IFRS requires or permits fair value measurements or disclosures about fair value measurements? IFRS 13:C2 Has the entity applied IFRS 13 prospectively as of the beginning of the annual period in which it is initially applied? The fair value measurement approach IFRS 13:B2 Has the entity determined all of the following: a) the particular asset or liability that is the subject of the measurement (consistently with its unit of account). b) for a non-financial asset, the valuation premise that is appropriate for the measurement (consistently with its highest and best use). c) the principal (or most advantageous) market for the asset or liability. d) the valuation technique(s) appropriate for the measurement, considering the availability of data with which to develop inputs that represent the assumptions that market participants would use when pricing the asset or liability and the level of the fair value hierarchy within which the inputs are categorised?
30
37 38 39 40 41 42
43
44
IFRS 13:11
The asset or liability When measuring fair value, has the entity taken into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date, such as: a) the condition and location of the asset and b) restrictions, if any, on the sale or use of the asset IFRS 13:14 Has the entity determined the unit of account for the asset or liability in accordance with the IFRS that requires or permits the fair value measurement, except as provided in IFRS 13?
45
46 47 49 50
The transaction
J
IFRS 13:15
K
For the fair value measurement, has the entity assumed that the asset or liability is exchanged in an orderly transaction between market participants to sell the asset or transfer the liability at the measurement date under current market conditions?
51
52 53 54
IFRS 13:16
For the fair value measurement, has the entity assumed that the transaction to sell the asset or transfer the liability takes place either: a) in the principal market for the asset or liability; or b) in the absence of a principal market, in the most advantageous market for the asset or liability?
IFRS 13:18
56
IFRS 13:21
If there is a principal market for the asset or liability, does the fair value measurement represent the price in that market (whether that price is directly observable or estimated using another valuation technique) even if the price in a different market is potentially more advantageous at the measurement date?
58
When there is no observable market to provide pricing information about the sale of an asset or the transfer of a liability at the measurement date, has the entity assumed for the fair value measurement, that a transaction takes place at that date, considered from the perspective of a market participant that holds the asset or owes the liability? Market participants
59
IFRS 13:22
60 62
IFRS 13:24
In measuring the fair value of an asset or a liability, has the entity used market participants' assumptions (assuming that market participants act in their best economic interest)? The price Has the entity considered fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price) regardless of whether that price is directly observable or estimated using another valuation technique?
63
IFRS 13:25
64 67 68 89 90
Has the price in the principal (or most advantageous) market used to measure the fair value of the asset or liability not been adjusted for transaction costs? Application to non-financial assets Does the entity have any non-financial assets for which another IFRS requires or permits fair value measurements or disclosures about fair value measurements? Application to liabilities and an entity's own equity instruments Does the entity have any liabilities or own equity instruments, for which another IFRS requires or permits fair value measurements or disclosures about fair value measurements? Application to financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk Does the entity have any financial assets and financial liabilities with offsetting positions in market risks or counterparty credit risk, for which another IFRS requires or permits fair value measurements or disclosures about fair value measurements? Fair value at initial recognition Does the entity have any assets or liabilities for which another IFRS requires or permits measurement at fair value at initial recognition ? Valuation Techniques
135
136
174
Has the entity used valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs?
I 176
J
IFRS 13:62
K
Three widely used valuation techniques are the market approach, the cost approach and the income approach. Has the entity used valuation techniques consistent with one or more of those approaches to measure fair value (or another approach where appropriate): Inputs to valuation techniques General principles
247 248
IFRS 13:69
249
IFRS 13:69
Has the entity selected inputs that are consistent with the characteristics of the asset or liability that market participants would take into account in a transaction for the asset or liability?
250
Has the entity not incorporated premiums or discounts that reflect size as a characteristic of the entitys holding (specifically, a blockage factor that adjusts the quoted price of an asset or a liability because the markets normal daily trading volume is not sufficient to absorb the quantity held by the entity, as described in paragraph 80 of IFRS 13) rather than as a characteristic of the asset or liability (e.g., a control premium when measuring the fair value of a controlling interest) in a fair value measurement?
IFRS 13:69
251 252
IFRS 13:70
If there is a quoted price in an active market (i.e., a Level 1 input) for an asset or a liability, has the entity used that price without adjustment when measuring fair value, except as specified in paragraph 79 of IFRS 13 (given below)? Inputs based on bid and ask prices If an asset or a liability measured at fair value has a bid price and an ask price (e.g., an input from a dealer market), has the entity used the price within the bid-ask spread that is most representative of fair value in the circumstances to measure fair value regardless of where the input is categorised within the fair value hierarchy, or has the entity used a mid-market price or other pricing convention that is used by market participants as a practical expedient for selecting a point within the bid-ask spread?
253
257 259
IFRS 13:73
Fair value hierarchy Has the entity determined the level of the fair value hierarchy in its entirety based on the lowest level input that is significant to the entire measurement? If an observable input requires an adjustment using an unobservable input and that adjustment results in a significantly higher or lower fair value measurement, has the entity categorised the resulting measurement within Level 3 of the fair value hierarchy?
IFRS 13:75
262
264
IFRS 13:77
Level 1 Inputs When available, has the entity determined fair value using quoted prices for identical assets or liabilities in an active market without adjustment, except as specified in paragraph 79 of IFRS 13 (given below): Has the entity determined both of the following for the Level 1 input? a) the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability; and b) whether the entity can enter into a transaction for the asset or liability at the price in that market at the measurement date. Has the entity not made an adjustment to a Level 1 input except in the following circumstances: a) When an entity holds a large number of similar (but not identical) assets or liabilities (e.g., debt securities) that are measured at fair value and a quoted price in an active market is available but not readily accessible for each of those assets or liabilities individually?
268
IFRS 13:79 IFRS 13:79(a)
269
270
IFRS 13:79(b)
272
b) When a quoted price in an active market does not represent fair value at the measurement date, has the entity established and consistently applied a policy for identifying those events that might affect fair value measurements?
I 274
J
IFRS 13:79(c)
K
c) When measuring the fair value of a liability or an entitys own equity instrument using the quoted price for the identical item traded as an asset in an active market and that price needs to be adjusted for factors specific to the item or the asset (see paragraph 39 of IFRS 13).
IFRS 13:80
276
Has the fair value of a position in a single asset or liability traded in an active market (including a position comprising a large number of identical assets or liabilities, such as a holding of financial instruments) been measured within Level 1 as the product of the quoted price for the individual asset or liability and the quantity held by the entity, even if a markets normal daily trading volume is not sufficient to absorb the quantity held and placing orders to sell the position in a single transaction might affect the quoted price?
Level 2 Inputs Has the entity adjusted Level 2 inputs depending on factors specific to the asset or liability, such as: a) the condition or location of the asset; b) the extent to which inputs relate to items that are comparable to the asset or liability; and
c) the volume or level of activity in the markets within which the inputs are observed.
Level 3 Inputs Has the entity only used unobservable inputs to the extent that relevant observable inputs are not available?
Measuring fair value when the volume or level of activity for an asset or a liability has significantly decreased Has the entity evaluated the significance and relevance of the following factors to determine, on the basis of the evidence available, whether there has been a significant decrease in the volume or level of activity for an asset or liability? a) There are few recent transactions. b) Price quotations are not developed using current information. c) Price quotations vary substantially either over time or among market-makers d) Indices that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability. e) There is a significant increase in implied liquidity risk premiums, yields or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the entitys estimate of expected cash flows, taking into account all available market data about credit and other non-performance risk for the asset or liability. f) There is a wide bid-ask spread or significant increase in the bid-ask spread. g) There is a significant decline in the activity of, or there is an absence of, a market for new issues (i.e., a primary market) for the asset or liability or similar assets or liabilities. h) Little information is publicly available (e.g., for transactions that take place in a principal-to-principal market) IFRS 13:B38 If an entity concludes that there has been a significant decrease in the volume or level of activity for the asset or liability in relation to normal market activity for the asset or liability (or similar assets or liabilities) and determines that a transaction or quoted price does not represent fair value, has the entity made an adjustment (which may be significant to the fair value measurement in its entirety) to the transactions or quoted prices that are used as a basis for measuring fair value?
298
299
300 301
302
304
309
I 311
J
IFRS 13:B43
K
Has the entity considered the following circumstances that may indicate that a transaction is not orderly: a) There was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions. b) There was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant. c) The seller is in or near bankruptcy or receivership (i.e., the seller is distressed). d) The seller was required to sell to meet regulatory or legal requirements (i.e., the seller was forced). e) The transaction price is an outlier when compared with other recent transactions for the same or similar asset or liability.
312
Has the entity considered all the following when measuring fair value or estimating market risk premiums:
318
a) If the evidence indicates that a transaction is not orderly, an entity shall place little, if any, weight (compared with other indications of fair value) on that transaction price.
319
b) If the evidence indicates that a transaction is orderly, an entity shall take into account that transaction price. The amount of weight placed on that transaction price when compared with other indications of fair value will depend on the facts and circumstances, such as (i) the volume of the transaction, (ii) the comparability of the transaction to the asset or liability being measured, (iii) the proximity of the transaction to the measurement date.
320
c) If an entity does not have sufficient information to conclude whether a transaction is orderly, it shall take into account the transaction price, but place less weight on the transaction when compared with other transactions that are known to be orderly.
321
IFRS 13:B46
Using quoted prices provided by third parties If there has been a significant decrease in the volume or level of activity for the asset or liability, has the entity evaluated whether the quoted prices provided by third parties are developed using current information that reflects orderly transactions or a valuation technique that reflects market participant assumptions (including assumptions about risk)?
323
IFRS 13:B46
324
In weighting a quoted price as an input to a fair value measurement, has the entity placed less weight (when compared with other indications of fair value that reflect the results of transactions) on quotes that do not reflect the result of transactions?
IFRS 13:B47
325
Has the entity considered the nature of a quote (e.g., whether the quote is an indicative price or a binding offer) when weighting the available evidence and placed more weight to quotes provided by third parties that represent binding offers?
L 1 2 3
M
AcctTQsummary
6 9 28 Yes / No / N/A
Yes Comments
30
37 38 39 40 41 42
43
44
45
46 47 49 50
51
52 53 54
56
58
59 60 62
63
64 67 68 89 90
135
136
L 176
250
251 252
253
257 259
262
268
269
270
272
L 274
276
298
299
300 301
302
304
309
L 311
312
318
319
320
321
323
324
325
G 1 2 3
TQ
H
Index
IFRS 13
Reference
5 6 7 8 26
13A TQ Reference
This section of the checklist addresses the presentation and disclosure requirements of IFRS 13. IFRS 13 is effective for annual periods beginning on or after 1 January 2013 with early application permitted.
For additional Guidance, select "Show" in the next column Presentation/disclosure requirement Does the entity have assets or liabilities that are measured at fair value on a recurring or non-recurring basis in the statement of financial position after initial recognition? Does the entity have assets or liabilities not measured at fair value in the statement of financial position but for which the fair value is disclosed?
28
13B
97
J 1 2 3
K
PresentTQSummary
5 6 7 8 26 Yes / No / N/A 28
Comments
97
B 1 3 4 5
TQ
C
Index
IAS 1
Reference
6 20 21 22 23 24 25 27 28 29 30
IAS 1:10(a) IAS 1:10(b) IAS 1:10(b) IAS 1:10(c) IAS 1:10(d) IAS 1:10(e) TQ Reference
31
IAS 1:10(f)
32
IAS 1:11
41 42 52 53 60
1B IAS 1:15 1A
IAS 1:16
IAS 1:19
72
1C
112
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B 126 127
C
IAS 1:25 IAS 1:25
128
1D
137
176
IAS 1:35
180
212
IAS 1:38
213
IAS 1:38
219
IAS 1:38
220
1F
231
273
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B 274
C
IAS 1:45 IAS 1:45(a)
275
IAS 1:45(b)
277 288 289 291 292 293 294 295 296 297 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325
IAS 1:54
IAS 1:54(a) IAS 1:54(b) IAS 1:54(c) IAS 1:54(d) IAS 1:54(e) IAS 1:54(f) IAS 1:54(g) IAS 1:54(h) IAS 1:54(i) IAS 1:54(j)
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C
IAS 1:54(m) IAS 1:54(n) IAS 1:54(o) IAS 1:54(p) IAS 1:54(q) IAS 1:54(r) IAS 1:55
IAS 1:56
344 355
IAS 1:60
356
1G
357
IAS 1:61
363
381
IAS 1:66
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C
IAS 1:69(d)
400
IAS 1:73
407
1H
417
IAS 1:76
424
434
452
453
04/26/2013 13:17:13
B 454 455
456
1I
474
IAS 1:81A (a) IAS 1:81A (b) IAS 1:81A (c) IAS 1:81B
481
IAS 1:81B (a)
482
IAS 1:81B (b)
493 495
IAS 1:82(d)
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C
IAS 1:82(e)
500 502 503 504 505 506 507 508 509 510 511 512
IAS 1:82(ea) IAS 1:82(f) IAS 1:82(g) IAS 1:82(h) IAS 1:82(i)
IAS 1:83(a)
IAS 1:83(b)
IAS 1:84
513
IAS 1:85
515
IAS 1:87
517
518
IAS 1:82
IAS 1:82(a) IAS 1:82(aa) IAS 1:82(b) IAS 1:82(c) IAS 1:82(ca)
524
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C
IAS 1:82(d) IAS 1:82(ea)
IAS 1:82A
529
530 531
532
IAS 1:87
542
IAS 1:90
543
IAS 1:92 IAS 1:94 IAS 1:94 IAS 1:94
555
IAS 1:94
556
562 563
IAS 1:97 IAS 1:99
572
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C
IAS 1:104
IAS 1:106(a)
590
IAS 1:106(b) IAS 1:106(c) IAS 1:106(d)
IAS 1:106A
IAS 1:113
617
634
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C
IAS 1:117(a) IAS 1:117(b) IAS 1:121
645 656
IAS 1:122
657
675
IAS 1:125
686
IAS 1:131
694
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C
IAS 1:135(c) IAS 1:135(d) IAS 1:135(e) IAS 1:136
759
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D 1 3 4 5
6 20
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
comparative information in respect of the preceding period as specified in paragraphs 38 and 38A;
31
f) when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements, a statement of financial position as at the beginning of the earliest comparative period. f) when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements in accordance with paragraphs 40A-40D of IAS 1, a statement of financial position as at the beginning of the preceding period.
32
41 prominence. 42
All of the financial statements in a complete set of financial statements shall be presented with equal
Did the entity whose financial statements comply with IFRSs, has made an explicit and unreserved statement of
72
Does management, in extremely rare circumstances, conclude that compliance with a requirement in an IFRS would be so misleading that it would conflict with the objective of financial statements set out in the Conceptual Framework for Financial Reporting?
112
Has the entity departed from a requirement of an IFRS in a prior period, and does that departure affect the amounts recognised in the financial statements for the current period?
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128 liquidate the entity or to cease trading, or has no realistic alternative but to do so.
Is management aware, in making its assessment of the entity's ability to continue as a going concern, of material uncertainties related to events or conditions that may cast significant doubt upon the entitys ability to 137 continue as a going concern?
Where an entity undertakes, in the course of its ordinary activities, transactions that do not generate revenue but that are incidental to its main revenue-generating activities, the results of such transactions are presented by netting any income with the related expenses arising on the same transaction, when such presentation 176 reflects the substance of the transaction or other event.
An entity presents gains and losses arising from a group of similar transactions (e.g. foreign exchange gains and losses, or gains and losses arising on financial instruments held for trading) on a net basis unless the gains 180 and losses are material, in which case the entity presents such gains and losses separately.
191 Frequency of reporting 192 longer or shorter than one year? 211 Comparative information 212 the previous period for all amounts reported in the current period's financial statements.
Except when IFRSs permit or require otherwise, an entity shall disclose comparative information in respect of Did the entity change the end of its reporting period and are the financial statements presented for a period
An entity shall include comparative information for narrative and descriptive information when it is relevant to
219 the preceding period for all amounts reported in the current period's financial statements.
Except when IFRSs permit or require otherwise, an entity shall present comparative information in respect of
An entity shall include comparative information for narrative and descriptive information if it is relevant to
Has the entity applied an accounting policy retrospectively, made a retrospective restatement of items in its financial statements, reclassified items in its financial statements or otherwise changed the presentation of 231 items in its financial statements?
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D
An entity shall retain the presentation and classification of items in the financial statements from one period to 274 the next, unless: a) it is apparent, following a significant change in the nature of the entitys operations or a review of its financial statements, that another presentation or classification would be more appropriate having regard to the criteria for the selection and application of accounting policies in IAS 8; or
275
277
b)
291 An entity shall clearly identify each financial statement and the notes. 292 information presented to be understandable: 293 294 295 296 297
An entity shall display the following information prominently, and repeat it when it is necessary for the a) the name of the reporting entity or other means of identification, and any change in that information from the end of the preceding reporting period; b) whether the financial statements are of the individual entity or a group of entities; c) the date of the end of the reporting period or the period covered by the set of financial statements or notes; d) the presentation currency, as defined in IAS 21 The Effects of Foreign Exchange Rates; and e) the level of rounding used in presenting amounts in the financial statements.
311 Statement of financial position 312 Information to be presented in the statement of financial position 313 amounts: 314 315 316 317 318 319 320 321 322 323 324 325
a) b) c) d) e) f) g) h) i) As a minimum, the statement of financial position sheet shall include line items that present the following
property, plant and equipment; investment property; intangible assets; financial assets (excluding amounts shown under (e), (h) and (i) below); investments accounted for using the equity method; biological assets inventories; trade and other receivables; cash and cash equivalents;
j) the total of assets classified as held for sale and assets included in disposal groups classified as held for sale in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations;
k) l)
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An entity shall present additional line items, headings and sub-totals in the statement of financial position such
344 classifications in its statement of financial position, it shall not classify deferred tax assets (liabilities) as current
assets (liabilities).
When an entity presents current and non-current assets, and current and non-current liabilities, as separate
Whichever of the methods of presentation allowed for under paragraph 60 of IAS 1 (see above) is adopted, for each asset and liability line item that combines amounts expected to be recovered or settled (i) no more than twelve months after the reporting period, and (ii) more than twelve months after the reporting period, an entity 363 shall disclose the amount expected to be recovered or settled after more than twelve months.
381
d) the asset is cash or a cash equivalent (as defined in IAS 7 Statement of Cash Flows), unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. An entity shall classify all assets, other than those meeting one of the criteria set out in paragraph 66 of IAS 1
395 An entity shall classify a liability as current when: 396 398 399
a) b) c) it expects to settle the liability in its normal operating cycle; it holds the liability primarily for the purpose of trading; the liability is due to be settled within twelve months after the reporting period; or
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D
d) it does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period (see paragraph 73 below). Terms of a liability that could at the option of the counterparty result in its settlement by the issue of equity instruments do not affect its classification.
400
403 1 (see above), as non-current. 404 reporting period, even if: 405 406
a)
An entity shall classify all liabilities, other than those meeting one of the criteria set out in paragraph 69 of IAS An entity classifies financial liabilities as current when they are due to be settled within twelve months after the the original term was for a period longer than twelve months; and
b) an agreement to refinance, or to reschedule payments, on a long-term basis is completed after the reporting period and before the financial statements are authorised for issue.
If an entity expects, and has the discretion, to refinance or roll over an obligation for at least twelve months after the reporting period under an existing loan facility, it classifies the obligation as non-current, even if it 407 would otherwise be due within a shorter period.
417
Did the entity breach a provision of a long-term loan agreement on or before the end of the reporting period with the effect that the liability becomes payable on demand?
In respect of loans classified as current liabilities, if the following events occur between the end of the reporting period and the date the financial statements are authorised for issue, those events are disclosed as non424 adjusting events in accordance with IAS 10 Events after the Reporting Period: a) b) refinancing on a long-term basis; rectification of a breach of a long-term loan agreement; and
c) the granting by the lender of a period of grace to rectify a breach of a long-term loan agreement ending at least twelve months after the reporting period. Information to be presented either in the statement of financial position or in the notes An entity shall disclose, either in the statement of financial position or in the notes, further sub-classifications of
434 the line items presented, classified in a manner appropriate to the entitys operations.
An entity shall disclose the following, either in the statement of financial position or the statement of changes in for each class of share capital: the number of shares authorised; the number of shares issued and fully paid, and issued but not fully paid; par value per share, or that the shares have no par value;
iv) a reconciliation of the number of shares outstanding at the beginning and at the end of the period; v) the rights, preferences and restrictions attaching to that class, including restrictions on the distribution of dividends and the repayment of capital; vi) shares in the entity held by the entity or by its subsidiaries or associates; and
452
453
04/26/2013 13:17:13
D 454 455
b) vii) shares reserved for issue under options and contracts for the sale of shares, including the terms and amounts; and a description of the nature and purpose of each reserve within equity.
456
An entity without share capital (e.g. a partnership or trust), shall disclose information equivalent to that required by paragraph 79(a) of IAS 1 (see above), showing changes during the period in each category of equity interest and the rights, preferences and restrictions attaching to each category of equity interest.
Did the entity hold a puttable financial instrument or an instrument that imposes on the entity some obligations
474
b) in two statements: a statement displaying components of profit or loss (separate income statement) and a second statement beginning with profit or loss and displaying components of other comprehensive income (statement of comprehensive income).
475 Statement(s) of profit or loss and other comprehensive income 476 and other comprehensive income sections: 477 478 479
a) b) profit or loss; total other comprehensive income; The statement of profit or loss and other comprehensive income shall present, in addition to the profit or loss
c) comprehensive income for the period, being the total of profit or loss and other comprehensive income. An entity shall present the following items, in addition to the profit or loss and other comprehensive income
481 sections, as allocation of profit or loss and other comprehensive income for the period:
a) profit or loss for the period attributable to: (i) non-controlling interests, and (ii) owners of the parent. b) comprehensive income for the period attributable to: (i) non-controlling interests, and (ii) owners of the parent.
482
483
485 Information to be presented in the statement of comprehensive income 487 amounts for the period: 488 489 491 492
a) aa) b) c) revenue gains and losses arising from the derecognition of financial assets measured at amortised cost; finance costs; share of profit or loss of associates and joint ventures accounted for using the equity method; As a minimum, the statement of comprehensive income shall include line items that present the following
493 495
ca) if a financial assets is reclassified so that it is measured at fair value, any gain or loss arising from a difference between the previous carrying amount and its fair value at the reclassification date (as defined in IFRS 9); d) tax expense;
04/26/2013 13:17:13
ii) the post-tax gain or loss recognised on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation; a single amount for the total of discontinued operations (see IFRS 5). profit or loss;
g) each component of other comprehensive income classified by nature (excluding amounts in (h) (see below); h) share of the other comprehensive income of associates and joint ventures accounted for using the equity method; and i) total comprehensive income.
An entity shall disclose the following items in the statement of comprehensive income as allocations for the profit or loss for the period attributable to: i) ii) non-controlling interests; and owners of the parent; and
total comprehensive income for the period attributable to: i) ii) non-controlling interests; and owners of the parent.
513 (see above) in a separate income statement (see paragraph 81(b) above).
An entity may present the line items in paragraphs 82(a) - (f) and the disclosures in paragraph 83(a) of IAS 1
An entity shall present additional line items, headings and subtotals in the statement of comprehensive income and the separate income statement (if presented), when such presentation is relevant to an understanding of 515 the entitys financial performance. An entity shall not present any items of income or expense as extraordinary items, in the statement of comprehensive income or in the separate income statement (if presented), or in the notes.
517
Information to be presented in the profit or loss section or the statement of profit or loss
518 include line items that present the following amounts for the period:
In addition to items required by other IFRSs, the profit or loss section or the statement of profit or loss shall
a) aa) b) c)
revenue gains and losses arising from the derecognition of financial assets measured at amortised cost; finance costs; share of profit or loss of associates and joint ventures accounted for using the equity method;
524
ca) if a financial assets is reclassified so that it is measured at fair value, any gain or loss arising from a difference between the previous carrying amount and its fair value at the reclassification date (as defined in IFRS 9);
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D 526 527
d) ea) tax expense; a single amount for the total of discontinued operations (see IFRS 5).
529
530 531
a) b)
will not be reclassified subsequently to profit or loss; and will be reclassified subsequently to profit or loss when specific conditions are met.
An entity shall present additional line items, headings and subtotals in the statement(s) presenting profit or loss and other comprehensive income, when such presentation is relevant to an understanding of the entitys 532 financial performance. An entity shall not present any items of income or expense as extraordinary items, in the statement of comprehensive income or in the separate income statement (if presented), or in the notes.
534
541 Other comprehensive income for the period 542 including reclassification adjustments, either in the statement of comprehensive income or in the notes.
An entity shall disclose the amount of income tax relating to each component of other comprehensive income,
An entity shall disclose the amount of income tax relating to each item of other comprehensive income, 543 including reclassification adjustments, either in the statement of profit or loss and other comprehensive income or in the notes.
548 552
An entity shall disclose reclassification adjustments relating to components of other comprehensive income. An entity may present reclassification adjustments in the statement of comprehensive income or in the notes. An entity may present reclassification adjustments in the statement(s) of profit or loss and other An entity presenting reclassification adjustments in the notes, presents the components of other comprehensive
556
An entity presenting reclassification adjustments in the notes, presents the items of other comprehensive income after any related reclassification adjustments.
562 563
Information to be presented in the statement of comprehensive income or in the notes When items of income and expense are material, an entity shall disclose their nature and amount separately.
An entity shall present an analysis of expenses recognised in profit or loss using a classification based on either 572 the nature of expenses or their function within the entity, whichever provides information that is reliable and more relevant.
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D
An entity classifying expenses by function shall disclose additional information on the nature of expenses, 579 including depreciation and amortisation expense and employee benefits expense.
587 Statement of changes in equity 588 Information to be presented in the statement of changes in equity 589 changes in equity includes the following information:
An entity shall present a statement of changes in equity as required by paragraph 10 of IAS 1. The statement of
590
a) total comprehensive income for the period, showing separately the total amounts attributable to owners of the parent and to non-controlling interests; b) for each component of equity, the effects of retrospective application or retrospective restatement recognised in accordance with IAS 8; and c) [deleted] d) for each component of equity, a reconciliation between the carrying amount at the beginning and the end of the period, separately disclosing changes resulting from: i) profit or loss; ii) other comprehensive income; and iii) transactions with owners in their capacity as owners, showing separately contributions by and distributions to owners and changes in ownership interests in subsidiaries that do not result in a loss of control. Information to be presented in the statement of changes in equity or in the notes For each component of equity an entity shall present, either in the statement of changes in equity or in the
601 notes, an analysis of other comprehensive income by item (see paragraphs 106(d)(ii)(above). 602 603 604
An entity shall present, either in the statement of changes in equity or in the notes: a) b)
the amount of dividends recognised as distributions to owners during the period, and the related amount of dividends per share.
611 Notes 612 Structure of notes 613 The notes shall: 614 615 616
a) present information about the basis of preparation of the financial statements and the specific accounting policies used in accordance with paragraphs 117-124 of IAS 1 (see below); b) disclose the information required by IFRSs that is not presented elsewhere in the financial statements; and c) provide information that is not presented elsewhere in the financial statements, but is relevant to an understanding of any of them.
An entity shall, as far as practicable, present notes in a systematic manner. An entity shall cross-reference each item in the statements of financial position and of comprehensive income, in the separate income statement (if presented), and in the statements of changes in equity and of cash flows to any related information in the 617 notes.
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D 635 An entity shall disclose in the summary of significant accounting policies: 636 637
a) b) the measurement basis (or bases) used in preparing the financial statements; and the other accounting policies used that are relevant to an understanding of the financial statements.
It is appropriate to disclose each significant accounting policy that is not specifically required by IFRSs, but the
677 In respect of such assets and liabilities, the notes shall include details of: 678 679
a) b) their nature; and their carrying amount as at the end of the reporting period.
An entity presents the disclosures in paragraph 125 of IAS 1 (see above) in a manner that helps users of financial statements to understand the judgements management makes about the future and about other 686 sources of estimation uncertainty. When it is impracticable to disclose the extent of the possible effects of an assumption or another source of estimation uncertainty at the end of the reporting period, the entity discloses that it is reasonably possible, on the basis of existing knowledge, that outcomes within the next financial year that are different from assumptions could require a material adjustment to the carrying amount of the asset or liability affected. In all 694 cases, the entity discloses the nature and carrying amount of the specific asset or liability (or class of assets or liabilities) affected by the assumption.
703 Capital 704 objectives, policies and processes for managing capital. 705 706 707 708 709 710
b) An entity shall disclose information that enables users of its financial statements to evaluate the entitys
To comply with paragraph 134 of IAS 1 (see above), the entity discloses the following: a) i) qualitative information about its objectives, policies and processes for managing capital, including: a description of what it manages as capital;
ii) when an entity is subject to externally imposed capital requirements, the nature of those requirements and how those requirements are incorporated into the management of capital; and iii) how it is meeting its objectives for managing capital;
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d) whether during the period it complied with any externally imposed capital requirements to which it is subject; and e) when the entity has not complied with such externally imposed capital requirements, the consequences of such non-compliance.
When an aggregate disclosure of capital requirements and how capital is managed would not provide useful information or distorts a financial statement users understanding of an entitys capital resources, the entity 716 shall disclose separate information for each capital requirement to which the entity is subject.
747 Other disclosures 748 An entity shall disclose in the notes: 749 750
a) the amount of dividends proposed or declared before the financial statements were authorised for issue but not recognised as a distribution to owners during the period, and the related amount per share; and b) the amount of any cumulative preference dividends not recognised.
751 statements:
An entity shall disclose the following, if not disclosed elsewhere in information published with the financial
a) the domicile and legal form of the entity, its country of incorporation and the address of its registered office (or principal place of business, if different from the registered office); b) c) d) a description of the nature of the entitys operations and its principal activities; the name of the parent entity and the ultimate parent of the group; and if it is a limited life entity, information regarding the length of its life.
Adoption of Standard and amendments to Standard in advance of effective dates Presentation of Items of Other Comprehensive Income (Amendments to IAS 1), issued in June 2011, amended paragraphs 7, 10, 82, 8587, 90, 91, 94, 100 and 115, added paragraphs 10A, 81A81B and 82A, and deleted paragraphs 12, 81, 83 and 84. An entity shall apply those amendments for annual periods beginning on or after 1 July 2012. Earlier application is permitted. If an entity applies the amendments for an earlier period it shall disclose that fact.
759
04/26/2013 13:17:14
F 1 3 4 5
PresentTQSummary
6 20 21 22 23 24 25 27 28 29 30
Comments
31
32
41 42 52 53 60
72
112
04/26/2013 13:17:14
F 126 127
128
137
176
180
213
219
220
231
273
04/26/2013 13:17:14
F 274
275
277 288 289 291 292 293 294 295 296 297 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325
04/26/2013 13:17:14
344 355
356
357
363
381
04/26/2013 13:17:14
400
407
417
424
434
452
453
04/26/2013 13:17:14
F 454 455
456
474
481
482
493 495
04/26/2013 13:17:14
500 502 503 504 505 506 507 508 509 510 511 512 513
515
517
518
524
04/26/2013 13:17:14
529
530 531
532
543
555
556
562 563
572
04/26/2013 13:17:14
590
591 592 593 594 595 596 600 601 602 603 604 611 612 613 614 615 616
617
634
04/26/2013 13:17:14
645 656
657
675
686
694
04/26/2013 13:17:14
759
04/26/2013 13:17:14
B 1 2 3
TQ
C
Index
IAS 2
Reference
245 of 493
04/26/2013 13:17:14
D 1 2 3
Inventories
Recognition/measurement requirement This section of the questionnaire addresses IAS 2, which prescribes the accounting treatment for inventories. The primary issues are: the costs that may be capitalised as an asset, the subsequent recognition as an expense, including the write-down to net realisable value and determining the cost formulas to be used in assigning costs to inventories.
5 29
For additional guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
111 Cost of agricultural produce harvested from biological assets 112 180
Does the entity hold any agricultural produce measured in accordance with IAS 2?
246 of 493
04/26/2013 13:17:14
F 1 2 3
AcctTQsummary
247 of 493
04/26/2013 13:17:15
B 1 2 3
TQ
C
Index
IAS 2
Reference
5 10 11 13 14 15 16 17 18 19
IAS 2:36(e) IAS 2:36(a) IAS 2:36(b) IAS 2:36(b) 2A TQ Reference
IAS 2:36(c)
IAS 2:36(d)
IAS 2:36(f)
20
IAS 2:36(g) IAS 2:36(h)
21 22 28 29 30 31 32 33 34 35 36 37
04/26/2013 13:17:15
D 1 2 3
Inventories
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 2, which prescribes the accounting treatment for inventories. The primary issues are: the costs that may be capitalised as an asset, the subsequent recognition as an expense, including the write-down to net realisable value, and determining the cost formulas to be used in assigning costs to inventories.
5 10 11
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity have inventories? Yes / No / N/A Yes
d)
the carrying amount of inventories carried at fair value less costs to sell;
e)
20
21 22 28 29 30 31 32 33 34 35 36 37
h) the circumstances or events that led to the reversal of a write-down of inventories in accordance with paragraph 34 of IAS 2; and i) the carrying amount of inventories pledged as security for liabilities.
04/26/2013 13:17:15
F 1 2 3
PresentTQSummary
5 10 11 13 14 15 16 17 18 19
Comments
20
21 22 28 29 30 31 32 33 34 35 36 37
04/26/2013 13:17:15
B 1 2 3
TQ
C
Index
IAS 7
Reference
5 10 11
IAS 7:1 TQ Reference
12 22 23 27 28 29
IAS 7:18(a) IAS 7:18(b) IAS 7:10
30
35
IAS 7:21
36
IAS 7:16
37 38 39 40
41 53
IAS 7:22(b)
IAS 7:28
54 59
04/26/2013 13:17:15
B 60
C
IAS 7:31 IAS 7:31
61 66 67 68 73
7A IAS 7:35 IAS 7:35
74
7B
79 85 86 102 103
IAS 7:43 IAS 7:43 7C
112
IAS 7:47
113
117
IAS 7:48
118
IAS 7:50
120
04/26/2013 13:17:15
D 1 2 3
Under IAS 7, all entities are required to prepare a statement of cash flows as part of their IFRS financial statements.
5 10
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
11 Requirement to present a statement of cash flows 12 present it as an integral part of its financial statements for each period for which financial statements are
presented. An entity shall prepare a statement of cash flows in accordance with the requirements of IAS 7 and shall
27 Reporting cash flows from operating activities 28 An entity shall report cash flows from operating activities using either: 29
a) the direct method, whereby major classes of gross cash receipts and gross cash payments are disclosed; or b) the indirect method, whereby profit or loss is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments, and items of income or expense associated with investing or financing cash flows.
30
41
53 Foreign currency cash flows 54 in the statement of cash flows in order to reconcile cash and cash equivalents at the beginning and the end of
the period. The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency is reported
04/26/2013 13:17:15
D 60
Cash flows arising from interest and dividends received and paid shall each be disclosed separately. Cash flows from interest and dividends received and paid shall each be classified in a consistent manner from period to period as either operating, investing or financing activities.
61
66 Taxes on income 67 Cash flows arising from taxes on income shall be separately disclosed. 68 can be specifically identified with financing and investing activities. 73 Investments in subsidiaries, associates and joint ventures 74 use of the equity or cost method (e.g. dividends or advances)?
Did the entity have any cash flows arising from an investment in an associate or a subsidiary accounted by the Cash flows arising from taxes on income shall be classified as cash flows from operating activities unless they
Did the entity have any cash flows arising from an investment in a jointly controlled entity accounted for by the
Investing and financing transactions that do not require the use of cash or cash equivalents shall be disclosed elsewhere in the financial statements in a way that provides all the relevant information about these investing 104 and financing activities.
109 Components of cash and cash equivalents 110 An entity shall disclose the components of cash and cash equivalents.
An entity shall present a reconciliation of the amounts for cash and cash equivalents in its statement of cash 111 flows with the equivalent items reported in the statement of financial position. In order to comply with IAS 1 Presentation of Financial Statements, an entity discloses the policy that it adopts in determining the composition of cash and cash equivalents.
112
The effect of any change in the policy for determining components of cash and cash equivalents (e.g. a change in the classification of financial instruments previously considered to be part of an entitys investment portfolio), 113 is reported in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
117 Other disclosures 118 equivalent balances held by the entity that are not available for use by the group.
An entity shall disclose, together with a commentary by management, the amount of significant cash and cash
120 financial position and liquidity of the entity, together with a commentary by management.
The entity is encouraged to disclose additional information that may be relevant to users in understanding the
04/26/2013 13:17:15
F 1 2 3
PresentTQSummary
5 10 11 12 22 23 27 28 29
Comments
30
35 36
37 38 39 40
41 53 54 59
04/26/2013 13:17:15
F 60
61 66 67 68 73 74
79 85 86 102 103
112
113
117 118
120
04/26/2013 13:17:15
B 1 2 3 4 5 13 14 15
8E TQ TQ
C
Index
IAS 8
Reference
Reference
04/26/2013 13:17:15
D 1 2 3 4 5 13
04/26/2013 13:17:15
04/26/2013 13:17:15
B 1 2 3
TQ
C
Index
IAS 8
Reference
5 13 14 15 33 48 49 66 67 77 78 8E
8D 8C 8A 8B Reference
04/26/2013 13:17:15
D 1 2 3
5 13
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
77 Disclosure of prior period errors 78 Did the entity discover any prior period errors?
04/26/2013 13:17:16
F 1 2 3
PresentTQSummary
5 13 14 15 33 48 49 66 67 77 78
Comments
04/26/2013 13:17:16
B 1 2 3
TQ
C
Index
IAS 10
Reference
5 15 16 17 18
10A TQ Reference
19 34 35 10B 40
10C
41
04/26/2013 13:17:16
D 1 2 3
5 15
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
16 Detailed compliance Questions 17 Recognition and measurement 18 Adjusting events after the reporting period 19 before the date when the financial statements are authorised for issue? 34 Dividends 35 Has the entity proposed or declared dividends after the reporting period? 40 Going concern 41 or have there been indicators that the reporting entity may no longer be a going concern?
Has management determined after the reporting period that it intends to liquidate the entity or to cease trading Has any favourable or unfavourable event, affecting the reporting entity, occurred after the reporting period but
04/26/2013 13:17:16
F 1 2 3
AcctTQsummary
5 15 16 17 18 19 34 35 40 41
Comments
04/26/2013 13:17:16
266
B 1 2 3
TQ
C
Index
IAS 10
Reference
5 13 14
10A IAS 10:13 TQ Reference
15 24 25 26 27 32 33 34 39 40 48 49
10C 10B IAS 10:19 IAS 10:17 IAS 10:17 IAS 10:16
04/26/2013 13:17:16
267
D 1 2 3 E
5 13 14 Dividends
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
15 entity) after the reporting period but before the financial statements are authorised for issue? 24 Going concern 25 IAS 1 specifies required disclosures if: 26 27
a) the financial statements are not prepared on a going concern basis; or
Are dividends declared (i.e. the dividends are appropriately authorised and are no longer at the discretion of the
b) management is aware of material uncertainties related to events or conditions that may cast significant doubt upon the entitys ability to continue as a going concern.
39 Updating disclosures about conditions at the end of the reporting period 40 reporting period?
Has the entity received information after the reporting period about conditions that existed at the end of the
04/26/2013 13:17:16
268
F 1 2 3
PresentTQSummary
5 13 14 15 24 25 26 27 32 33 34 39 40 48 49
Comments
04/26/2013 13:17:16
B 1 2 3
TQ
C
Index
IAS 11
Reference
5 12 13 14
11A TQ Reference
15
20 28 36 42 43 44 45 46 47 48 52 60 68 78 79 80
IAS 11:16 IAS 11:12 IAS 11:11 IAS 11:9 IAS 11:10
81
82
04/26/2013 13:17:16
B 83 84 85 86 87 91 95
C
IAS 11:17
IAS 11:18
137
04/26/2013 13:17:16
D 1 2 3
Construction Contracts
Recognition/measurement requirement IAS 11 should be applied in accounting for construction contracts in the financial statements of contractors. A construction contract is defined as a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use. The term contractor is not defined.
5 12
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
36 amended to include the construction of an additional asset? 42 Contract revenue 43 Does contract revenue comprise: 44 45 46 47 48 52
a)
b) variations in contract work, claims and incentive payments, to the extent that both of the following conditions are satisfied: i) ii) it is probable that they will result in revenue; and they are capable of being reliably measured?
Is contract revenue measured at the fair value of the consideration received or receivable? Is the recognition of variations as contract revenue deferred?
81
82
04/26/2013 13:17:16
D 83 84 85 86 87 91 Costs?
Are costs that relate directly to a specific contract reduced by any incidental income that is not included in contract revenue? Where costs are attributable to contract activity in general and they can be allocated to the contract: a) b) c) are such costs allocated using methods that are systematic and rational? are those methods applied consistently to all costs having similar characteristics? is the allocation based on the normal level of construction activity?
Does the entity capitalise borrowing costs incurred on qualifying assets, in accordance with IAS 23 Borrowing Do contract costs specifically exclude those costs that cannot be attributed to contract activity or cannot be Have costs that relate directly to the contract and that have been incurred in securing the contract been
95 allocated to a contract?
101 included as part of the contract costs, provided that all of the following conditions apply: 102 103 104
a) b) c) these costs can be separately identified; reliably measured; and it is probable that the contract will be obtained?
108 Recognition of contract revenue and expenses 109 Can the outcome of a construction contract be estimated reliably? 115
Is the construction contract a fixed price contract?
125 Is the construction contract a cost plus contract? 133 plus contract (e.g. a cost plus contract with an agreed maximum price)?
Does the entity have construction contracts that contain characteristics of both a fixed price contract and a cost
Are contract costs incurred by the entity that relate to future activity on the contract, recognised as an asset, 137 provided it is probable that they will be recovered? Has uncertainty arisen about the collectability of an amount already included in contract revenue (and in profit Has a reasonable basis been used to assess the percentage of completion (and consequent revenue Is the stage of completion determined with reference to the contract costs incurred to date?
142 or loss)?
When the uncertainties that prevented the outcome of the contract being estimated reliably no longer exist, are revenue and expenses associated with the construction contract recognised by reference to the stage of 166 completion of the contract activity at the end of the reporting period?
04/26/2013 13:17:16
F 1 2 3
AcctTQsummary
5 12 13 14 15
Comments
20 28 36 42 43 44 45 46 47 48 52 60 68 78 79 80
81
82
04/26/2013 13:17:16
F 83 84 85 86 87 91 95
137
04/26/2013 13:17:16
B 1 2 3
TQ
C
Index
IAS 11
Reference
5 11 12 14 15 16 17 21 22 23 24 32 33 34
IAS 11:42(a) IAS 11:42(b) IAS 11:45 IAS 11:40(a) IAS 11:40(b) IAS 11:40(c) IAS 11:39(a) IAS 11:39(b) IAS 11:39(c) 11A TQ Reference
47
04/26/2013 13:17:16
D 1 2 3
Construction Contracts
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosures requirements of IAS 11, which should be applied in accounting for construction contracts in the financial statements of contractors. A construction contract is defined as a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use. The term contractor is not defined.
5 11 12
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity have any construction contracts, for which it is the contractor? Yes / No / N/A Yes
An entity shall disclose each of the following for contracts in progress at the end of the reporting period: a) the aggregate amount of costs incurred and recognised profits (less recognised losses) to date; b) the amount of advances received; and c) the amount of retentions.
47
04/26/2013 13:17:16
F 1 2 3
PresentTQSummary
5 11 12 14 15 16 17 21 22 23 24 32 33 34
Comments
47
04/26/2013 13:17:17
B 1 2 3 4
TQ
C
Index
IAS 12
Reference
6 32 33 34
12A TQ Reference
35
57 58 59 69
12J 12B
70 77 83
12F 12G
87
12G
91
04/26/2013 13:17:17
B
12E
357
388
12I
389
04/26/2013 13:17:17
D 1 2 3 4
Income Taxes
Recognition/measurement requirement This section of the questionnaire addresses IAS 12 which prescribes the accounting treatment for income taxes. IAS 12 uses the balance sheet approach / balance sheet liability method to determine the amount of deferred tax liabilities or assets. Under this method, the carrying amounts of assets and liabilities are compared to their tax bases, and any resulting difference is either a taxable temporary difference or a deductible temporary difference. IAS 12 prescribes the criteria for the recognition and measurement of deferred tax liabilities or assets that arise from these temporary differences.
6 32
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
35
57 Recognition of deferred tax liabilities and deferred tax assets 58 Taxable temporary differences 59
Do taxable temporary differences exist?
69 Goodwill
Was the entity involved in a business combination or acquisition in a past reporting period, for which a
70 deferred tax liability in relation to goodwill has not been recognised? 77 Initial recognition of an asset or a liability (other than goodwill) 83
Has the entity been involved in a business combination in the current reporting period? Does the entity carry assets at fair value or at a revalued amount (e.g. under the revaluation models of IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets; at fair value under IAS 40 Investment Property or IAS 39 Financial Instruments: Recognition and Measurement)? Does the entity carry assets at fair value or at a revalued amount (e.g. under the revaluation models of IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets; at fair value under IAS 40 Investment Property or IFRS 9 Financial Instruments)?
87
91
132 Unused tax losses and unused tax credits 133 reporting period? 145
Did the entity have any unused tax losses or unused tax credits during or at the end of the current Investments in subsidiaries, branches and associates and interests in joint ventures
04/26/2013 13:17:17
D 146
Has the entity held investments in subsidiaries, branches, associates or interests in joint ventures during or at the end of the current reporting period?
237 Recognition of current and deferred tax 238 Items recognised in profit or loss 266 Changes in the tax status of an entity or its shareholders 267 period?
Has there been a change in the tax status of the entity or of its shareholders during the current reporting
271 Items recognised outside profit or loss 326 Deferred tax arising from a business combination
Was the entity involved in a business combination or acquisition in a past reporting period and a deferred tax asset was not recognised for the acquirees income tax loss carry forwards or other deferred tax assets 357 because the recognition criteria in IFRS 3 Business Combinations were not met?
388
Current and deferred tax arising from share-based payment transactions Does the entity have share-based payment transactions within the scope of IFRS 2 Share-based Payment outstanding during the current reporting period?
389
04/26/2013 13:17:17
F 1 2 3 4
AcctTQsummary
6 32 33 34
Comments
Hide
35
57 58 59 69 70 77 83
87
91
04/26/2013 13:17:17
357
388
389
04/26/2013 13:17:17
B 1 2 3 4 5 12 13 14 15 16 17 21 22 23 24
TQ TQ
C
Index
IAS 12
Reference
Reference
IAS 12:71
25
29 30
IAS 12:77
IAS 12:77A
31
IAS 12:77
32
IAS 12:78
34 36 37 47 48
IAS 12:81(a) IAS 12:79
04/26/201313:17:17
B 49 51
C
IAS 12:81(ab) IAS 12:81(c)
52
53 58
IAS 12:81(d)
IAS 12:81(e)
59
IAS 12:81(f)
60
IAS 12:81(g)
64 65
66 67 68 69
IAS 12:81(i) IAS 12:81(h)
70
IAS 12:81(j)
71
IAS 12:81(k)
72
12A 12B
73 85
IAS 12:88
98
04/26/201313:17:17
B 102
12C
C
IAS 12:88
04/26/201313:17:17
D 1 2 3 4 5 12
Income Taxes
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 12 which prescribes the accounting treatment for income taxes. For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
An entity shall offset deferred tax assets and deferred tax liabilities if, and only if: a) there is a legally enforceable right to set off current tax assets against current tax liabilities (see above); and b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either: i) the same taxable entity; or ii) different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
25
31
If an entity presents the components of profit or loss in a separate income statement as described in paragraph 81 of IAS 1, it presents the tax expense (income) related to profit or loss from ordinary activities in that separate statement. The tax expense (income) related to profit or loss from ordinary activities shall be presented as part of profit or loss in the statement(s) of profit or loss and other comprehensive income.
32
34
Where exchange differences on deferred foreign tax liabilities or assets are recognised in the statement of comprehensive income, such differences may be classified as deferred tax expense (income) if that presentation is considered to be the most useful to financial statement users.
36 Disclosure 37 The major components of tax expense(income) shall be separately disclosed. 47 The following shall also be disclosed separately: 48
a) the aggregate current and deferred tax relating to items that are charged or credited directly to equity (see paragraph 62A of IAS 12);
04/26/201313:17:17
D 49 51
b) the amount of income tax relating to each component of other comprehensive income (see paragraph 62 of IAS 12 and IAS 1); c) an explanation of the relationship between tax expense (income) and accounting profit in either or both of the following forms: i) a numerical reconciliation between tax expense (income) and the product of accounting profit multiplied by the applicable tax rate(s), disclosing also the basis on which the applicable tax rate(s) is (are) computed; or ii) a numerical reconciliation between the average effective tax rate and the applicable tax rate, disclosing also the basis on which the applicable tax rate is computed; d) an explanation of changes in the applicable tax rate(s) compared to the previous accounting period;
52
53 58
59
e) the amount (and expiry date, if any) of deductible temporary differences, unused tax losses, and unused tax credits for which no deferred tax asset is recognised in the statement of financial position; f) the aggregate amount of temporary differences associated with investments in subsidiaries, branches and associates, and interests in joint ventures (joint arrangements), for which deferred tax liabilities have not been recognised (see paragraph 39 of IAS 12); g) in respect of each type of temporary difference, and in respect of each type of unused tax losses and unused tax credits: i) the amount of the deferred tax assets and liabilities recognised in the statement of financial position for each period presented; and ii) the amount of the deferred tax income or expense recognised in profit or loss, if this is not apparent from the changes in the amounts recognised in the statement of financial position; h) i) in respect of discontinued operations, the tax expense relating to: the gain or loss on discontinuance; and
60
64 65
66 67 68 69
ii) the profit or loss from the ordinary activities of the discontinued operation for the period, together with the corresponding amounts for each prior period presented; and i) the amount of income tax consequences of dividends to shareholders of the entity that were proposed or declared before the financial statements were authorised for issue, but are not recognised as a liability in the financial statements; j) if a business combination in which the entity is the acquirer causes a change in the amount recognised for its pre-acquisition deferred tax asset (see paragraph 67 of IAS 12), the amount of that change; and k) if the deferred tax benefits acquired in a business combination are not recognised at the acquisition date but are recognised after the acquisition date (see paragraph 68 of IAS 12), a description of the event or change in circumstances that caused the deferred tax benefits to be recognised.
70
71
72
73 85
Did the entity have any deferred tax assets? Is the entity subject to income tax in a jurisdiction whereby income taxes are payable at a higher or lower rate, or may be refundable or payable, if part or all of the net profit or retained earnings is paid out as a dividend?
An entity discloses any tax-related contingent liabilities and contingent assets in accordance with IAS 37
04/26/201313:17:17
D 102
Are changes in tax rates or tax laws enacted or announced after the reporting period?
04/26/201313:17:17
F 1 2 3 4 5 12 13 14 15 16 17 21 22 23 24
Comments PresentTQSummary
25
29 30
31
32
34 36 37 47 48
04/26/201313:17:17
F 49 51
52
53 58
59
60
64 65
66 67 68 69
70
71
72
73 85
98
04/26/201313:17:17
F 102
04/26/201313:17:17
B 1 2 3
TQ
C
Index
IAS 16
Reference
5 23 24 25 26 48 49 75
16G 16B 16A TQ Reference
04/26/2013 13:17:18
D 1 2 3
5 23
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
75 Elements of cost 79 (commonly referred to as decommissioning, restoration and similar liabilities)? 110 Measurement of cost 114
Did the entity acquire an item of property, plant and equipment in exchange for another asset? Does the entity have any obligations to dismantle, remove and restore items of property, plant and equipment
140 Cost model 141 under the cost model? 144 Revaluation model 145
Does the entity revalue any class of its property, plant and equipment under the revaluation model? Does the entity hold/own assets held at cost less accumulated depreciation and accumulated impairment loss
04/26/2013 13:17:18
F 1 2 3
AcctTQsummary
04/26/2013 13:17:18
B 1 2 3
TQ
Index
IAS 16
Reference
5 8 9 10 96
16B 16A TQ Reference
97
296 0f 493
04/26/2013 13:17:18
D 1 2 3
This section of the checklist also addresses the presentation and disclosure requirements of IFRIC 1, which contains guidance on accounting for changes in decommissioning, restoration and similar liabilities that have previously been recognised both as part of the cost of an item of property, plant and equipment under IAS 16 Property, Plant and Equipment, and as a provision (liability) under IAS 37 Provisions, Contingent Liabilities and Contingent Assets.
5 8 9 10 96
General disclosures
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
Did the entity hold or acquire any property, plant or equipment? IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities Does the entity have any obligations to dismantle, remove and restore items of property, plant and equipment
297 0f 493
04/26/2013 13:17:18
F 1 2 3
PresentTQSummary
No N/A Guidance
5 8 9 10 96 97
Comments
Show
Guidance
298 0f 493
04/26/2013 13:17:18
B 1 2 3
TQ
Index
IAS 17
Reference
5 27 28 29 30
17G TQ Reference
31 40
17H
41
82
17A
83
17B
84
17C
299 0f 493
04/26/2013 13:17:18
D 1 2 3
Leases
Recognition/measurement requirement This section of the questionnaire addresses the accounting for leases from the perspectives of both the lessee and the lessor. SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease addresses when an agreement with an unrelated party or parties involves the legal form of a lease, how to determine whether a series of transactions is linked and should be accounted for as one transaction and whether the arrangement meets the definition of a lease under IAS 17. IFRIC 4 Determining whether an Arrangement contains a Lease provides guidance for determining whether an arrangement is, or contains, a lease that should be accounted for in accordance with IAS 17.
5 27
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
28 DETAILED COMPLIANCE QUESTIONS 29 Determining whether an arrangement constitutes a lease under IAS 17 30 Arrangements involving the legal form of a lease
Has the entity entered into a transaction or a series of structured transactions (an arrangement) with an unrelated party or parties (an investor) that involves the legal form of a lease where the substance of the arrangement may be such that it does not meet the definition of a lease under IAS 17?
31
82 Classification of leases 83 agreement that gives the entity the right to use an asset or part of an asset for a period of time? (Is the entity
a lessee?) Has the entity financed the purchase of an asset by another entity, sold an asset with finance, transferred the Has the entity entered into a lease agreement, rental agreement, hire purchase agreement or any other
84 right to use an asset, or rented an asset to another entity? (Is the entity a lessor?)
Has the entity entered into any sale and leaseback or lease and leaseback transactions in respect of the same
300 0f 493
04/26/2013 13:17:18
F 1 2 3
AcctTQSummary
No
N / A Guidance
5 27 28 29 30
Comments
Show
31 40 41
82 83
84
301 0f 493
04/26/2013 13:17:18
B 1 2 3
TQ
C
Index
IAS 17
Reference
5 10 11 12 13 35 36 53 54 55 75 76 92
17E 17D 17C 17B 17A TQ Reference
93 111
17F
112
04/26/2013 13:17:18
D 1 2 3
Leases
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 17, which deals with the accounting for leases from both the perspective of the lessee and lessor, IFRIC 4 Determining whether an Arrangement contains a Lease and SIC 27 Evaluating the Substance of Transactions involving the Legal Form of a Lease. The object of IFRIC 4 is to provide guidance to assist in determining whether an arrangement is, or contains, a lease. Any arrangement that is determined to involve a lease will fall within the scope of IAS 17 Leases, and will be subject to the presentation and disclosure requirements of that Standard.
Not all transactions that involve the legal form of a lease will fall within the definition of a lease for the purposes of IAS 17 Leases. In some cases, such transactions may be designed to achieve a particular tax effect, which is shared between the parties, rather than conveying the right to use an asset. SIC-27 addresses issues that may arise when an entity enters into a transaction or a series of structured transactions with an unrelated party or parties that involves the legal form of a lease.
5 10
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
35 Operating leases 36
Is the entity a lessee under any operating lease?
92 Sale and leaseback transactions 93 or under a financing lease) sale and leaseback arrangements?
Are any of the arrangements where the entity is acting as a lessor or a lessee (either under any operating lease
130
SIC 27 Evaluating the Substance of Transactions involving the Legal Form of a Lease Did the entity have any arrangements that have a legal form of a lease but that do not, in substance, involve a 131 lease under IAS 17?
143
04/26/2013 13:17:18
F 1 2 3
PresentTQSummary
5 10 11 12 13 35 36 53 54 55 75 76 92 93 111
Comments
112
04/26/2013 13:17:18
B 1 2 3 4
TQ
C
Index
IAS 18
Reference
5 6 7 8 24 25 26
18A TQ Reference
27
18B
28 29 34 62 63 76
18E 18G 18C 18D
247
251
18I
04/26/2013 13:17:18
D 1 2 3 4
Revenue
Recognition/measurement requirement This section of the questionnaire addresses the requirements of IAS 18 regarding accounting for revenue. Revenue is income that arises in the course of ordinary activities of an entity and is referred to by a variety of different names including sales, fees, interest, dividends and royalties. The primary issue in accounting for revenue is when to recognise revenue. The text below is based on the requirements of IAS 18 . Users should also be familiar with the Appendix accompanying IAS 18, which provides a number of illustrative examples of the application of IAS 18. IFRIC 13 Customer Loyalty Programmes addresses the accounting by entities that provide their customers with incentives to buy goods or services by providing award credits as part of a sales transaction. IFRIC 15 Agreements for the Construction of Real Estate clarifies the application of IAS 18 and IAS 11 to agreements for the construction of Real Estate. For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
5 6 7 8 24
25 Detailed Compliance Questions 26 Definition of revenue 27 by the entity for the purpose of sale, or goods that were specifically purchased for resale)?
Does the entity sell goods to its customers (this may include both goods that were manufactured or produced
28 29 34
Does the entity render a service to its customers (the rendering of a service normally involves the performance of a contractually agreed task over a period of time)?
Does the entity generate income by allowing customers the use of its assets? Does the entity provide finance in conjunction with the sale of goods?
62 Exchanges of goods or services 63 entered into any exchange or barter transactions)? 76 Identification of the transaction 77 and services, delivery of a number of different goods or services)? 86 Sale of goods 122
Does the entity enter into buy-back / repurchase agreements? Does the entity enter into transactions that comprise more than one component (e.g. delivery of both goods Has the entity accepted goods or other services in exchange for the delivery of goods or services (i.e. has it
247
251
04/26/2013 13:17:18
F 1 2 3 4
AcctTQsummary
No N/A Guidance
5 6 7 8 24 25 26 27
Comments
247
251
04/26/2013 13:17:19
B 1 2 3
TQ
C
Index
IAS 18
Reference
5 10 11 18A 44 45
18C TQ Reference
04/26/2013 13:17:19
D 1 2 3
Revenue
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 18. Revenue is income that arises in the course of the ordinary activities of an entity and is referred to by a variety of different names including sales, fees, interest, dividends and royalties. The primary issue in accounting for revenue is determining when to recognise revenue. This section of the checklist also addresses the presentation and disclosure requirements of IFRIC 15 which deals with the accounting for revenue and associated expenses by entities that undertake the construction of real estate directly or indirectly through subcontractors. The Interpretation considers the classification of such contracts (whether within the scope of IAS 11 Construction Contracts or IAS 18 Revenue) and the recognition of revenue from the construction of real estate.
5 10
For additional Guidance, select "Show" in the next column Presentation/disclosure requirement Yes / No / N/A
11 Did the entity recognise any revenue? 44 IFRIC 15 Agreements for the Construction of Real Estate 45
Does the entity enter into agreements for the construction of real estate?
04/26/2013 13:17:19
F 1 2 3
PresentTQSummary
5 10 11 44 45
Comments
04/26/2013 13:17:19
B 1 2 3 4
TQ
C
Index
IAS 19
Reference
520 548
04/26/2013 13:17:19
B 549 621 622 693 694 734 735 766 767 806 807 808 809 810 811 812 861 862 19H 863 864
19G 19E 19D 19J 19C 19F
04/26/2013 13:17:19
D 1 2 3 4
Employee Benefits
Recognition/measurement requirement This section of the questionnaire addresses IAS 19, which prescribes the accounting for employee benefits. The principal issues relate to the determination of employee benefit liabilities, assets and expenses for short term and long term employee benefits. In July 2007, the IASB issued IFRIC 14 IAS 19 The Limit of a Defined Benefit Asset, Minimum Funding Requirements and their Interaction. The Interpretation addresses the application of paragraph 58 of IAS 19 which limits the measurement of a defined benefit asset to the present value of economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan plus unrecognised gains and losses. Further, minimum funding requirements exist in many countries and such requirements may limit the ability of the entity to reduce future contributions and also give rise to a liability. IFRIC 14 addresses:
6 7 8 9 10 44
when refunds or reductions in future contributions should be regarded as available in accordance with paragraph 58 of IAS 19, how a minimum funding requirement might affect the availability of reductions in future contributions; and when a minimum funding requirement might give rise to a liability.
The requirements of IFRIC 14 are set out in this section following the requirements of paragraph 58 of IAS 19.
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
49 maternity or paternity, jury service and military service); 50 employees render the related service; and 51 current employees?
d) c)
profit-sharing and bonuses payable within twelve months after the end of the period in which the
non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services) for
133 Post-employment benefits 134 Does the entity provide post-employment benefits such as: 135 a) 136 care?
b) retirement benefits, such as pensions; and other post-employment benefits, such as post-employment life insurance and post-employment medical
04/26/2013 13:17:19
D 549
Has a curtailment or settlement occurred in the current financial year?
806 Other long-term employee benefits 807 based Payment applies) such as: 808 a) 809 b) 810 c)
d) e) Does the entity have any other long-term employee benefit liabilities (other than those to which IFRS 2 Sharelong-term compensated absences (e.g. long-service or sabbatical leave); jubilee or other long-service benefits; long-term disability benefits; profit-sharing and bonuses payable twelve months or more after the end of the period in which the
deferred compensation paid twelve months or more after the end of the period in which it is earned?
861 Termination benefits 862 Is the entity due to pay any employee benefits as a result of either:
a) its decision to terminate an employee's employment before the normal retirement date; or
863 864
b) an employee's decision to accept voluntary redundancy in exchange for those benefits?
04/26/2013 13:17:19
F 1 2 3 4
Show AcctTQsummary
No N/A Guidance
Hide
Yes No Guidance
04/26/2013 13:17:19
F 549 621 622 693 694 734 735 766 767 806 807 808 809 810 811 812 861 862 863 864
04/26/2013 13:17:19
B 1 2 3
TQ
C
Index
IAS 19
Reference
04/26/2013 13:17:19
D 1 2 3
Employee Benefits
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 19, which prescribes the accounting for employee benefits. The principal issues relate to the determination of employee benefit liabilities, assets and expenses for short-term and long-term employee benefits. This section of the checklist also addresses the presentation and disclosure requirements of IFRIC 14, which applies to post-employment defined benefits and other long-term employee defined benefits and provides guidance on:
a) when refunds or reductions in future contributions should be regarded as available in accordance with paragraph 58 of IAS 19 Employee Benefits. b) how a minimum funding requirement might affect the availability of reductions in future contributions; and c) when a minimum funding requirement might give rise to a liability.
10 17
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
18 Short-term employee benefits 19 Did the entity provide any short-term employee benefits? 26 Post-employment benefits multi-employer plans 27
Did the entity participate in any defined benefit plans for post-employment benefits?
203 Other long-term employee benefits 204 Did the entity provide any other long-term employee benefits? 211 Termination benefits 212 Did the entity offer or grant any termination benefits?
04/26/2013 13:17:19
F 1 2 3
PresentTQSummary
04/26/2013 13:17:19
I 1 2 3 4
TQ
J
Index
IAS 19(2011)
Reference
Employee Benefits
Recognition/measurement requirement This section of the questionnaire addresses IAS 19 Employee Benefits (2011), which prescribes the accounting for employee benefits. The principal issues relate to the determination of employee benefit liabilities, assets and expenses for short term and long term employee benefits. In June 2011 the International Accounting Standards Board (IASB) announced the completion of its project to improve the accounting for pensions and other post-employment benefits by issuing an amended version of IAS 19. The amendments make important improvements by: eliminating an option to defer the recognition of gains and losses, known as the corridor method, improving comparability and providing a more faithful representation of the financial effect of the defined benefit plan. segregating changes in the defined benefit obligation and the fair value of plan assets into those associated with service costs, net interest on the net defined benefit liability (asset) and remeasurements.
streamlining the presentation of changes in assets and liabilities arising from defined benefit plans, including requiring remeasurements to be presented in other comprehensive income (OCI), thereby separating those changes from changes that many perceive to be the result of an entitys day-to-day operations. enhancing the disclosure requirements for defined benefit plans, providing better information about the characteristics of defined benefit plans and the risks that entities are exposed to through participation in those plans.
6 7 8 17 18 19
19A IAS 19(2011):9 TQ Reference
IAS 19(2011) is effective for annual periods beginning on or after 1 January 2013 with early application permitted. This section of the checklist should be completed only if the entity has adopted IAS 19(2011) in advance of its effective date. For additional Guidance, select "Show" in the next column Recognition/measurement requirement Short-term employee benefits General Does the entity have expenses arising from short term employee benefits (other than those to which IFRS 2 applies), such as the following, that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service:
20
a) wages, salaries and social security contributions; b) paid annual leave and paid sick leave; c) profit-sharing and bonuses; and d) non-monetary benefits (such as medical care, housing, cars and free or subsidised goods or services) for current employees. Post-employment benefits Does the entity offer post-employment benefits such as: a) retirement benefits (e.g., pensions and lump sum payments on retirement); or b) other post-employment benefits, such as post-employment life insurance and post-employment medical care?
Multi-employer plans Does the entity participate in any multi-employer post-employment benefit plans, classified either as a defined contribution or defined benefit plan? Defined benefit plans that share risks between various entities under common control Does the entity participate in a plan that shares risks between various entities under common control? State plans Does the entity participate in any state post-employment benefit plans, classified either as a defined contribution or defined benefit plan?
04/26/2013 13:17:19
J
Insured benefits
K
Does the entity pay insurance premiums to fund a post employment benefit plan? Other long-term employee benefits
IAS 19(2011):153
365
Does the entity have any other long-term employee benefits including items such as the following, that are not expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service: a) long-term paid absences such as long-service or sabbatical leave; b) jubilee or other long-service benefits; c) long-term disability benefits; d) profit-sharing and bonuses; and e) deferred remuneration? Termination benefits
Is the entity due to pay any employee benefits as a result of either: a) its decision to terminate an employee's employment before the normal retirement date; or
b) an employee's decision to accept an offer of benefits in exchange for the termination of employment?
04/26/2013 13:17:19
L 1 2 3 4
M
AcctTQsummary
6 7 8 17 18 19
Yes / No / N/A Comments
20
04/26/2013 13:17:20
04/26/2013 13:17:20
F 1 2 3
TQ
G
Index
IAS 19(2011)
Reference
04/26/2013 13:17:20
H 1 2 3
Employee Benefits
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 19 Employee Benefits (2011), which prescribes the accounting for employee benefits. The principal issues relate to the determination of employee benefit liabilities, assets and expenses for short-term and long-term employee benefits.
5 9
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
10 Short-term employee benefits 11 Did the entity provide any short-term employee benefits? 17
Did the entity participate in any defined benefit plans for post-employment benefits?
150 Other long-term employee benefits 151 Did the entity provide any other long-term employee benefits? 155 Termination benefits 156 Did the entity offer or grant any termination benefits?
04/26/2013 13:17:20
J 1 2 3
PresentTQSummary
04/26/2013 13:17:20
B 1 2 3
TQ
C
Index
IAS 20
Reference
5 17 18 19
20A TQ Reference
20 104 105
20B
04/26/2013 13:17:20
D 1 2 3
5 17
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
04/26/2013 13:17:20
F 1 2 3
AcctTQsummary
5 17 18 19 20 104 105
Comments
04/26/2013 13:17:20
B 1 2 3
TQ
C
Index
IAS 20
Reference
5 10 11 12 20A 60 61
20B TQ Reference
04/26/2013 13:17:20
D 1 2 3
5 10
11 Contingent liabilities and contingent assets related to government grants 12 Did the entity receive any government grants? 60 Government assistance 61
Did the entity receive any government assistance (including government grants)?
04/26/2013 13:17:20
F 1 2 3
PresentTQSummary
5 10 11 12 60 61
Comments
04/26/2013 13:17:20
B 1 2 3
TQ
Index
IAS 21
Reference
5 38 39 40 41 21A 42 21E
21H TQ Reference
04/26/2013 13:17:20
D 1 2 3
5 38
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
39 Detailed Compliance Questions 40 Functional currency 41 Does the entity have transactions in foreign currencies? 42 Does the entity have any foreign operations? 66
Is the functional currency of the entity the currency of a hyperinflationary economy in accordance with IAS 29 Financial Reporting in Hyperinflationary Economies?
88 Reporting foreign currency transactions in the functional currency 89 Does the entity: 90 91 92 93
a) b) c) buy or sell goods or provide services whose price is denominated in a foreign currency; borrow or lend funds where the amounts payable or receivable are denominated in a foreign currency; acquire or dispose of assets, or incur or settle liabilities, denominated in a foreign currency?
Does the entity have any assets or liabilities that are denominated in a foreign currency?
128 Use of a presentation currency other than the functional currency 131 Translation to the presentation currency 132 presentation currency)?
Is the entity using a currency other than its functional currency for presenting its financial statements (the
04/26/2013 13:17:20
F 1 2 3
AcctTQSummary
No N/A
Guidance
5 38 39 40 41 42 66 83 84 88 89 90 91 92 93 128 131 132 188 189
Comments
04/26/2013 13:17:20
B 1 2 3
TQ
C
Index
IAS 21
Reference
5 12 13 21A 14 15 16
TQ Reference
04/26/2013 13:17:20
D 1 2 3
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
14 - have transactions or balances in foreign currencies; 15 - have any foreign operations; or 16 - present its financial statements in a foreign currency?
04/26/2013 13:17:20
F 1 2 3
PresentTQSummary
5 12 13 14 15 16
Comments
04/26/2013 13:17:21
B 1 2 3 4
TQ
C
Index
IAS 23
Reference
6 30 31 32 38
23A 23B TQ Reference
04/26/2013 13:17:21
D 1 2 3 4
Borrowing Costs
Recognition/measurement requirement IAS 23 requires that borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognised as an expense. When application constitutes a change in accounting policy, an entity shall apply the Standard to borrowing costs relating to qualifying assets for which the commencement date for capitalisation is on or after the effective date. However, an entity may designate any date before the effective date and apply the Standard to borrowing costs relating to all qualifying assets for which the commencement date for capitalisation is on or after that date. For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
6 30
04/26/2013 13:17:21
F 1 2 3 4
AcctTQsummary
6 30 31 32 38
Comments
04/26/2013 13:17:21
B 1 2 3
TQ
C
Index
IAS 23
Reference
5 12 14 16 17 18 22
IAS 23:26(a) IAS 23:26(b) 23A TQ Reference
04/26/201313:17:21
D 1 2 3
Borrowing Costs
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 23, which prescribes the accounting treatment for borrowing costs. Following the adoption of the revised IAS 23(2007), which is effective for annual periods beginning on or after 1 January 2009, capitalisation is the only permitted accounting treatment for borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset.
5 12 14
For additional Guidance, select "Show" in the next column Presentation/disclosure requirement Did the entity incur any borrowing costs? Yes / No / N/A Yes
04/26/201313:17:21
F 1 2 3
PresentTQSummary
5 12 14 16 17 18 22
Comments
04/26/201313:17:21
B 1 2 3
TQ
C
Index
IAS 24
Reference
10 39 40 41 42 43 44 46 47 55
IAS 24:9 IAS 24:9(a) IAS 24:9(a)(i) IAS 24:9(a)(i) IAS 24:9(a)(ii) IAS 24:9.(a)(iii) IAS 24:9(b) TQ Reference
IAS 24:9(b)(i)
56
IAS 24:9(b)(ii)
57
IAS 24:9(b)(iii) IAS 24:9(b)(iv)
58 59
IAS 24:9(b)(v)
60
IAS 24:9(b)(vi)
61
IAS 24:9(b)(vii)
62
04/26/201313:17:21
B 99 100 101
24A
IAS 24:14
04/26/201313:17:21
D 1 2 3
10 39
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
(iii) is a member of the key management personnel of the reporting entity or of a parent of the reporting entity An entity is related to a reporting entity if any of the following conditions applies.
56
(i) The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others).
57
(ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member).
58 59
(iii) Both entities are joint ventures of the same third party. (iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity. (v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity.
60
61
(vi) The entity is controlled or jointly controlled by a person identified in paragraph 9(a) of IAS 24 (see above). (vii) A person identified in paragraph 9(a)(i) of IAS 24 (see above) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity).
62
04/26/201313:17:21
To enable users of financial statements to form a view about the effects of related party relationships on an entity, it is appropriate to disclose the related party relationship when control exists, irrespective of whether 107 there have been transactions between the related parties.
143 Compensation of key management personnel 144 compensation for its key management personnel? 260 Government-related entities 261
Is the entity exempt from the disclosure requirements of related party transactions with the government? Did the entity have any related party transactions and outstanding balances with related parties, including
04/26/201313:17:21
F 1 2 3
PresentTQSummary
10 39 40 41 42 43 44 46 47 55
Comments
56
57
58 59
60
61
62
04/26/201313:17:21
F 99 100 101
04/26/201313:17:21
B 1 2 3
TQ
C
Index
IAS 26
Reference
5 17 18
26A TQ Reference
19 35
26B
36 74 76 77 78 79 80 81 82 83 84 85 86 87 88 95 96 97
IAS 26:35(b) IAS 26:35(a) IAS 26:34(a) IAS 26:34(b) IAS 26:34(c) IAS 26:32
IAS 26:33
04/26/2013 13:17:21
107
IAS 26:35(e)
115
04/26/2013 13:17:21
D 1 2 3
5 17
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
18 Defined contribution plans 19 defined benefit plans, it is considered to be a defined benefit plan for the purpose of IAS 26)? 35 Defined benefit plans 36
Is it a defined benefit plan (if the plan contains characteristics of both defined contribution plans and defined benefit plans, it is considered to be a defined benefit plan for the purpose of IAS 26)? Is it a defined contribution plan (if the plan contains characteristics of both defined contribution plans and
74 All plans 76 the reason why fair value is not used. 77 generally also disclosed.
Where plan investments are held for which an estimate of fair value is not possible, disclosure shall be made of
To the extent that investments are carried at amounts other than market value or fair value, fair value is The financial statements of the retirement benefit plan, whether defined benefit or defined contribution, shall a) b) c) a statement of changes in net assets available for benefits; a summary of significant accounting policies; and a description of the plan and the effect of any changes in the plan during the period.
The financial statements provided by retirement benefit plans include the following, if applicable: a) i) ii) a statement of net assets available for benefits disclosing: assets at the end of the period suitably classified; the basis of valuation of assets;
iii) details of any single investment exceeding either 5% of the net assets available for benefits or 5% of any class or type of security; iv) v) details of any investment in the employer; and liabilities other than the actuarial present value of promised retirement benefits;
a statement of changes in net assets available for benefits showing the following: employer contributions; employee contributions;
04/26/2013 13:17:22
v) benefits paid or payable (analysed, for example, as retirement, death and disability benefits, and lump sum payments); vi) vii) viii) ix) administrative expenses; other expenses; taxes on income; profits and losses on disposal of investments and changes in value of investments; and
x)
107
d) for defined benefit plans, the actuarial present value of promised retirement benefits (which may distinguish between vested benefits and non-vested benefits) based on the benefits promised under the terms of the plan, on service rendered to date and using either current salary levels or projected salary levels; and
115
e) for defined benefit plans, a description of the significant actuarial assumptions made and the method used to calculate the actuarial present value of promised retirement benefits. The report of a retirement benefit plan contains a description of the plan, either as part of the financial
116 information or in a separate report. It may contain the following: 117 118 119 120 121 122 123
a)
b) the number of participants receiving benefits and the number of other participants, classified as appropriate; c) d) e) f) g) the type of plan - defined contribution or defined benefit; a note as to whether participants contribute to the plan; a description of the retirement benefits promised to participants; a description of any plan termination terms; and changes in items (a) to (f) above during the period covered by the report.
04/26/2013 13:17:22
F 1 2 3
PresentTQSummary
5 17 18 19 35 36 74 76 77 78 79 80 81 82 83 84 85 86 87 88 95 96 97
Comments
04/26/2013 13:17:22
107
115
04/26/2013 13:17:22
B 1 2 3
TQ
C
Index
IAS 27(2008)
Reference
5 6 34 35 36
27A 27B TQ Reference
98
27D
139 213
27C
04/26/2013 13:17:22
D 1 2 3
5 6 34
For additional guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
98
Has there been a non-controlling interest in any subsidiary in the reporting entity during or at the end of
Did the reporting entity lose control of an existing subsidiary during the reporting period (e.g. as a result
04/26/2013 13:17:22
F 1 2 3
AcctTQSummary
5 6 34 35 36
Comments
98
04/26/2013 13:17:22
B 1 2 3
TQ
C
Index
IAS 27(2008)
Reference
5 18 19 92 93 134 135
27 TQ Reference
04/26/2013 13:17:22
D 1 2 3
5 18 19
For additional guidance, select Show in the next column Presentation/disclosure requirement Has the entity prepared either consolidated financial statements or separate financial statements (or both)? Yes / No / N/A Yes
92 Non-controlling interests 93 Has the entity prepared consolidated financial statements? 134 Separate financial statements 135 Has the entity prepared separate financial statements?
04/26/2013 13:17:22
F 1 2 3
PresentTQSummary
5 18 19 92 93 134 135
Comments
04/26/2013 13:17:22
Index
IAS 27(2011)
TQ Reference
TQ
Reference
27A
27B
04/26/2013 13:17:22
IAS 27 (2011) is an amendment for the issuance of IFRS 10 Consolidated Financial Statements but retains current guidance for separate financial statements. For additional guidance, select "Show" in the next column Recognition/measurement requirement Accounting for investments in separate financial statements Has the entity prepared separate financial statements? Yes / No / N/A
Is the entity applying IAS 27(2011) prior to its annual period beginning on or after 1 January 2013?
04/26/2013 13:17:22
AcctTQsummary
Comments
04/26/2013 13:17:22
Index
IAS 27(2011)
TQ Reference
TQ 27A
27B
IAS 27(2011):17
27C
04/26/2013 13:17:22
For additional guidance, select Show in the next column Presentation/disclosure requirement Has the parent, in accordance with paragraph 4(a) of IFRS 10, elected not to prepare consolidated financial statements and instead prepares separate financial statements? When a parent (other than a parent covered by paragraph 16) or an investor with joint control of, or significant influence over, an investee prepares separate financial statements, has the parent or investor identified the financial statements prepared in accordance with IFRS 10, IFRS 11 or IAS 28 (as amended in 2011) to which they relate? Yes / No / N/A
Is the entity applying IAS 27(2011) for an annual period beginning before 1 January 2013?
04/26/2013 13:17:22
PresentTQSummary
Comments
04/26/2013 13:17:23
B 1 2 3
TQ
C
Index
IAS 28(2008)
Reference
5 20 21 22 23 93
28B 28A TQ Reference
94 263 264
28C
04/26/2013 13:17:23
D 1 2 3
Investments in Associates
Recognition/measurement requirement This section of the questionnaire addresses IAS 28(2008), which prescribes the accounting by an investor for investments in associates. The primary issues are identifying whether significant influence exists and the application of the equity method.
5 20
For additional guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
21 Detailed compliance Questions 22 Requirement to account for associates using the equity method 23
Does the reporting entity exercise significant influence over one or more entities?
04/26/2013 13:17:23
F 1 2 3
AcctTQSummary
5 20 21 22 23 93 94 263 264
Comments
04/26/2013 13:17:23
B 1 2 3
TQ
C
Index
IAS 28(2008)
Reference
5 15 16 28A 18 19 23 24 25 26 28
IAS 28:37(b) IAS 28:37(c) IAS 28:37(a) IAS 28:38 TQ Reference
29
IAS 28:37(d)
30
IAS 28:37(e)
31
32 33
IAS 28:37(f)
34
IAS 28:37(g)
39
IAS 28:37(h) IAS 28:37(i)
40
41 43
IAS 28:38
04/26/2013 13:17:23
B 44 45 46
IAS 28:39
47 48 49 50 51
IAS 28:40(a) IAS 28:40(b)
04/26/2013 13:17:23
D 1 2 3
Investments in Associates
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 28(2008), which prescribes the accounting by an investor for investments in associates. The primary issues are identifying whether significant influence exists and the application of the equity method.
5 15
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A Yes
b) summarised financial information of associates, including the aggregated amounts of assets, liabilities, revenues and profit or loss; c) the reasons why the presumption that an investor does not have significant influence is overcome if the investor holds, directly or indirectly through subsidiaries, less than 20 per cent of the voting or potential voting power of the investee but concludes that it has significant influence;
29
30
d) the reasons why the presumption that an investor has significant influence is overcome if the investor holds, directly or indirectly through subsidiaries, 20 per cent or more of the voting or potential voting power of the investee but concludes that it does not have significant influence;
31
e) when the financial statements of an associate used in applying the equity method are as of a date or for a period that is different from that of the investor: i) the end of the reporting period of the financial statements of the associate; and
32 33
ii)
34
f) the nature and extent of any significant restrictions (e.g. resulting from borrowing arrangements or regulatory requirements) on the ability of associates to transfer funds to the investor in the form of cash dividends, or repayment of loans or advances;
39
g) the unrecognised share of losses of an associate, both for the period and cumulatively, if an investor has discontinued recognition of its share of losses of an associate;
40
h) the fact that an associate is not accounted for using the equity method in accordance with paragraph 13 of IAS 28; and i) summarised financial information of associates, either individually or in groups, that are not accounted for using the equity method, including the amounts of total assets, total liabilities, revenues and profit or loss.
41
04/26/2013 13:17:23
D
a) the investor's share of the profit or loss of associates accounted for using the equity method;
44 45 46
b) c) the carrying amount of those investments; and the investor's share of any discontinued operations of such associates.
The investors share of changes recognised in other comprehensive income by the associate shall be recognised
In accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets, the investor shall disclose: a) its share of the contingent liabilities of an associate incurred jointly with other investors; and
b) those contingent liabilities that arise because the investor is severally liable for all or part of the liabilities of the associate.
04/26/2013 13:17:23
F 1 2 3
PresentTQSummary
5 15 16 18 19 23 24 25 26 28
Comments
29
30
31
32 33
34
39
40
41 43
04/26/2013 13:17:23
F 44 45 46 47 48 49 50 51
04/26/2013 13:17:23
I 1 2 3
TQ
J
Index
IAS 28(2011)
Reference
5 6 11 12 13
28A TQ Reference
14 68
28B
28D
04/26/2013 13:17:23
K 1 2 3
5 6 11
IAS 28(2011) has been amended for conforming changes based on the issuance of IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements. For additional guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
14 entity a party to a joint venture that has joint control of that joint venture? 68 Investment ceases to be classified as an associate
69 the reporting period (e.g., as a result of the disposal of a portion of the ownership interest)? 139 Separate financial statements 140 financial statements? 142
Has the reporting entity ceased to exercise significant influence or joint control of an investee during
Does the reporting entity have investments in associates or joint ventures and prepare separate
Is the entity applying IAS 28(2011) prior to its annual period beginning on or after 1 January 2013?
04/26/2013 13:17:23
M 1 2 3
AcctTQsummary
04/26/2013 13:17:23
IAS 28(2011)
TQ Reference
TQ
Reference
28A
IAS 28(2011):16
04/26/2013 13:17:23
For additional guidance, select Show in the next column Presentation/disclosure requirement Disclosure Joint ventures Are investments in associates or a joint venture accounted for using the equity method?
04/26/2013 13:17:23
Comments
Yes / No / N/A
Comments
04/26/2013 13:17:24
B 1 2 3 4
TQ
C
Index
IAS 29
Reference
6 7 8 22 23 24 25 34
29A 29B 29D TQ Reference
04/26/2013 13:17:24
D 1 2 3 4
6 7 8 22
23 Detailed compliance Questions 24 The restatement of financial statements 25 of a hyperinflationary economy? 34 hyperinflationary economy? 76
Does the entity or any of its subsidiaries prepare historical cost financial statements in the functional currency Does the entity or any of its subsidiaries prepare current cost financial statements in a currency of a During the current reporting period, has the economy of the entity or any of its subsidiaries functional currencies been identified as hyperinflationary, when that economy was not hyperinflationary in the prior period?
04/26/2013 13:17:24
F 1 2 3 4
AcctTQSummary
6 7 8 22 23 24 25 34
Comments
04/26/2013 13:17:24
B 1 2 3
TQ
C
Index
IAS 29
Reference
5 14
29 TQ Reference
15 17 18
IAS 29:9 IAS 29:28
22
27 28
IAS 29:39(a)
29
IAS 29:39(b)
30 31
IAS 29:39(c)
04/26/2013 13:17:24
D 1 2 3
5 14
For additional Guidance, select "Show" in the next column Presentation/disclosure requirement Has the parent entity, or any of its subsidiaries, associates or joint ventures in the consolidated financial Yes / No / N/A Yes
15 statements (if applicable), had a functional currency being the currency of a hyperinflationary economy? 17 Gain or loss on net monetary position 18
The gain or loss on the net monetary position shall be included in profit or loss and separately disclosed. It may be helpful if other income and expense items, such as interest income and expense, and foreign exchange differences related to invested or borrowed funds, which are also associated with the net monetary position, are presented together with the gain or loss on net monetary position in the statement of comprehensive income. The adjustment to those assets and liabilities linked by agreement to changes in prices made in accordance with paragraph 13 is offset against the gain or loss on net monetary position.
22
30 31
c) the identity and level of the price index at the end of the reporting period and the movement in the index during the current and the previous reporting period.
04/26/2013 13:17:24
F 1 2 3
PresentTQSummary
5 14 15 17 18
Comments
22
27 28 29
30 31
04/26/2013 13:17:24
B 1 2 3
TQ
C
Index
IAS 31
Reference
5 31 32 33
31A TQ Reference
34 57
31B
58
67
31C
68
80 81
31D
82 95
31E
96 110
04/26/2013 13:17:24
04/26/2013 13:17:24
D 1 2 3
SIC 13 Jointly Controlled Entities Non-Monetary Contributions by Venturers deals with the venturer's accounting for non-monetary contributions to a jointly controlled entity in exchange for an equity interest in the jointly controlled entity that is accounted for using either the equity method or proportionate consolidation.
5 31 33 Joint control 34
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
58
68
82
04/26/2013 13:17:24
D
Is the entitys accounting policy to account for jointly controlled entities in which it is a venturer using the 111 equity method?
205 Transactions between a venturer and a joint venture 206 venturer? 240
Has the reporting entity contributed or sold non-monetary assets to a joint venture in which it is a Has the reporting entity purchased assets from a joint venture in which it is a venturer?
04/26/2013 13:17:24
F 1 2 3
AcctTQSummary
5 31 32 33 34 57
Comments
58
67
68
80 81
82 95 96 110
04/26/2013 13:17:24
04/26/2013 13:17:24
B 1 2 3
TQ
C
Index
IAS 31
Reference
5 16 17 18 20 35 36 50
IAS 31:56 IAS 31:56 31A IAS 31:30 TQ Reference
63 64
IAS 31:56
65
IAS 31:57
67
04/26/2013 13:17:24
D 1 2 3
5 16 17 18 20
For additional guidance, select Show in the next column Presentation/disclosure requirement Reporting formats for interests accounted for using proportionate consolidation Did the entity have joint control over any jointly controlled entities? Is proportionate consolidation used by a venturer to account for its interest in a jointly controlled entity? Yes Yes / No / N/A
63 64
65
A venturer that recognises its interests in jointly controlled entities using the line-by-line reporting format for proportionate consolidation or the equity method, shall disclose the aggregate amounts of each of current assets, long-term assets, current liabilities, long-term liabilities, income and expenses related to its interests in joint ventures. A venturer shall disclose the method it uses to recognise its interests in jointly controlled entities.
67
04/26/2013 13:17:24
F 1 2 3
PresentTQSummary
5 16 17 18 20 35 36 50
Comments
63 64
65
67
04/26/2013 13:17:25
B 1 2 3
TQ
C
Index
IAS 32
Reference
321
04/26/2013 13:17:25
D 1 2 3
5 15 16
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity issue a financial instrument? Yes / No / N/A
235 Interest, dividends, losses and gains 236 component of a financial instrument?
Did the entity recognise any interest, dividends, losses and gains related to a financial instruments or a
320 IFRIC 2 Members Shares in Co-operative Entities and Similar Instruments 321
Does the entity issue financial instruments, such as member's share in co-operative entities, which have characteristics of equity but give the holder the right to request redemption for cash or another financial asset?
04/26/2013 13:17:25
F 1 2 3
PresentTQSummary
04/26/2013 13:17:25
B 1 2 3 4 5 6 39 40 41
33A TQ TQ
C
Index
IAS 33
Reference
Reference
42
84 33C 90
33B 33E
99
33D
107 146
33I
286
04/26/2013 13:17:25
D 1 2 3 4 5 6 39
42
84 Has the entity entered into a business combination during the year? 90
Does the entity (or its subsidiary, associates and joint ventures) have potential ordinary shares? Does the entity have agreements whereby the issuance of ordinary shares is contingent upon the
Have any events occurred (other than the conversion of potential ordinary shares) that have changed the 107 number of ordinary shares outstanding, without a corresponding change in resources?
147 shares or two-classes of ordinary shares? 269 Contracts that may be settled in ordinary shares or cash 270
Does the entity have contracts that may be settled in ordinary shares or cash?
285 Written put options 286 the entity to repurchase its own shares)?
Has the entity held written options or forward purchase options during the year (i.e. contracts that require
04/26/2013 13:17:25
F 1 2 3 4 5 6 39 40 41
Comments AcctTQSummary
42
84 90
99
04/26/2013 13:17:25
B 1 2 3 4
TQ
C
Index
IAS 33
Reference
6 18 19 20 21 114 115
33A TQ Reference
04/26/2013 13:17:25
D 1 2 3 4
6 18 19 20 21 114 115
For additional guidance, select Show in the next column Presentation/disclosure requirement Does the entity have ordinary shares or potential ordinary shares that are publicly traded; or Is the entity in the process of issuing such shares; or Has the entity chosen to disclose earnings per share (EPS) information voluntarily? Yes / No / N/A
04/26/2013 13:17:25
F 1 2 3 4
PresentTQSummary
6 18 19 20 21 114 115
Comments
04/26/2013 13:17:25
B 1 2 3
TQ
C
Index
IAS 34
Reference
5 6 24 25 27 34A 29 30 31 32 33 35 38 39 40 45 46
IAS 34:9 IAS 34:11 IAS 34:8(b) IAS 34:8(a) IAS 34:8(b) TQ Reference
71
IAS 34:14
75 161
IAS 34:15-15C,16A
04/26/2013 13:17:25
B 271
C
IAS 34:20(a)
IAS 34:20(b)
272
IAS 34:20(b)
274
IAS 34:20(c)
277
IAS 34:20(d)
278
IAS 34:21
279 287
IAS 34:23
315 316
IAS 34:28
317
IAS 34:28
318 320
IAS 34:37
321
331
IAS 34:39
332 333
04/26/2013 13:17:25
B 334
C
IAS 34:41
04/26/2013 13:17:25
D 1 2 3
5 6 24
25 Minimum components of an interim financial report 27 Did the entity publish any financial interim reports? 29 An interim financial report shall include, at a minimum, the following components: 30 31 32 33 35 38 39 40
b) a) b) a condensed statement of financial position; a condensed statement of comprehensive income, presented as either: i) a condensed single statement; or
ii) a condensed separate income statement and a condensed statement of comprehensive income; a condensed statement or condensed statements of profit or loss and other comprehensive income;
c) d) e)
a condensed statement of changes in equity; a condensed statement of cash flows; and selected explanatory notes.
71 basic and diluted earnings per share for that period when the entity is within scope of IAS 33.
An interim report is prepared on a consolidated basis if the entitys most recent annual financial statements
268 Periods for which interim financial statements are required to be presented 269
Interim reports shall include interim financial statements (condensed or complete) for periods as follows:
04/26/2013 13:17:25
D 271
a) statement of financial position as of the end of the current interim period and a comparative statement of financial position as of the end of the immediately preceding financial year;
272
b) statements of comprehensive income for the current interim period and cumulatively for the current financial year to date, with comparative statements of comprehensive income for the comparable interim periods (current and year-to-date) of the immediately preceding financial year;
274
b) statements of profit or loss and other comprehensive income for the current interim period and cumulatively for the current financial year to date, with comparative statements of profit or loss and other comprehensive income for the comparable interim periods (current and year-to-date) of the immediately preceding financial year;
277
c) statement of changes in equity cumulatively for the current financial year to date, with a comparative statement for the comparable year-to-date period of the immediately preceding financial year; and d) statement of cash flows cumulatively for the current financial year to date, with a comparative statement for the comparable year-to-date period of the immediately preceding financial year.
278
Entities whose business is highly seasonal are encouraged (but not required) to report financial information for 279 the twelve months up to the end of the interim period, and comparative information for the prior twelve-month period.
However, the frequency of an entity's reporting (annual, half-yearly, or quarterly) shall not affect the measurement of its annual results. To achieve that objective, measurements for interim reporting purposes 318 shall be made on a year-to-date basis.
04/26/2013 13:17:25
D
The measurement procedures to be followed in an interim financial report shall be designed to ensure that the resulting information is reliable and that all material financial information that is relevant to an understanding of 334 the financial position or performance of the entity is appropriately disclosed.
04/26/2013 13:17:26
F 1 2 3
PresentTQSummary
5 6 24 25 27 29 30 31 32 33 35 38 39 40 45 46
Comments
71
04/26/2013 13:17:26
F 271
272
274
277
278
317
318 320
321
331
332 333
04/26/2013 13:17:26
F 334
04/26/2013 13:17:26
B 1 2 3
TQ
C
Index
IAS 36
Reference
6 7 43 44 45
36A TQ Reference
46
36G
36D
36C
36B
36E
385
419 420
36F
04/26/2013 13:17:26
D 1 2 3
Impairment of Assets
Recognition/measurement requirement This section of the questionnaire addresses IAS 36. The purpose of this Standard is to ensure that assets are not carried at an amount that is greater than their recoverable amount. If an asset is carried at more than its recoverable amount, the asset is described as impaired and IAS 36 requires the entity to recognise an impairment loss.
The principal issues are: how to determine whether impairment exists, how to recognise an impairment loss and when an entity should reverse an impairment loss. In July 2006, IFRIC 10 Interim Financial Reporting and Impairment was issued, which clarifies that certain impairment losses recognised in an interim period cannot be reversed in subsequent financial statements.
6 7 43
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
44 Detailed Compliance Questions 45 Identifying an asset that may be impaired 46 measured on a cost basis, or intangible assets?
Does the entity recognise assets such as property, plant and equipment and investment properties that are
Has the entity recognised any intangible assets with an indefinite useful life or any intangible assets not
Has the entity recognised goodwill acquired in a business combination in its financial statements?
265 Cash-generating units and goodwill 266 independently from the other businesses within the entity? OR 267
Does the entity have different divisions, business units, branches or outlets that generate cash flows
04/26/2013 13:17:26
F 1 2 3
AcctTQSummary
6 7 43 44 45 46
Comments
385
419 420
04/26/2013 13:17:26
B 1 2 3
TQ
C
Index
IAS 36
Reference
5 6 16 17
36A TQ Reference
18 95 96
36B
04/26/2013 13:17:26
D 1 2 3
Impairment of Assets
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 36. The objective of this Standard is to ensure that assets are not carried at an amount that is greater than their recoverable amount. If an asset is carried at more than its recoverable amount, the asset is described as impaired and IAS 36 requires the entity to recognise an impairment loss. The principal issues are: how to determine whether impairment exists, how to recognise an impairment loss and when an entity should reverse an impairment loss. For additional Guidance, select "Show" in the next column Presentation/disclosure requirement Did the entity recognise any impairment losses, or reversals of impairment losses, during the period on assets Yes / No / N/A
5 6 16
04/26/2013 13:17:26
F 1 2 3
PresentTQSummary
5 6 16 17 18 95 96
Comments
04/26/2013 13:17:26
B 1 2 3
TQ
C
Index
IAS 37
Reference
5 30 31 32 33
20B TQ Reference
37A
34 61
37B
62
66
37C
67
125
37D
126 136
37E
137
172 174
423 of 493
04/26/2013 13:17:26
B
37F
175
201
37G
203
424 of 493
04/26/2013 13:17:26
D 1 2 3
5 30
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
61 Contingent liabilities
Does the entity have any possible obligations arising from past events that will only be confirmed by the occurrence of uncertain future events that are not wholly within the control of the entity, OR Does the entity have any present obligations arising from past events that have not been recognised as a provision because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation, or the amount of the obligation cannot be measured with sufficient reliability? (Does the entity have any contingent liabilities?)
62
66 Contingent assets 67
Does the entity have any possible assets that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity? (Does the entity have any contingent assets?)
136 Restructuring
Has the entity planned or embarked on a restructuring of the business, i.e. a programme that is planned and controlled by management that materially changes the scope of the business undertaken by the entity; or the 137 manner in which business is conducted? IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental
425 of 493
04/26/2013 13:17:26
D
Did the entity have an interest in, or have an obligation to make potential additional contributions to, a fund or a trust in order to segregate assets to fund some or all of the costs of decommissioning, restoration and 175 environmental rehabilitation?
IFRIC 6 Liabilities arising from Participating in a Specific MarketWaste Electrical and Electronic Does the entity have any obligations related to decommissioning of waste electrical and electronic equipment
203 pursuant to the European Unions Directive on Waste Electrical and Electronic Equipment (WE&EE)?
426 of 493
04/26/2013 13:17:26
F 1 2 3
AcctTQSummary
Yes
5 30 31 32 33 34 61
Comments
No
62
66 67
125
172 174
427 of 493
04/26/2013 13:17:26
F 175
201 203
428 of 493
04/26/2013 13:17:27
B 1 2 3 4 5 14 25 26 51 52 37B 77 78 37C
37A TQ TQ
C
Index
IAS 37
Reference
Reference
04/26/2013 13:17:27
D 1 2 3 4 5 14 25 Reimbursements 26
Did the entity have any contingent assets or reimbursements?
51 Provisions 52 Did the entity have any provisions? 77 Contingent liabilities 78 Did the entity have any contingent liabilities?
04/26/2013 13:17:27
F 1 2 3 4 5 14 25 26 51 52 77 78
Comments PresentTQSummary
04/26/2013 13:17:27
B 1 2 3
TQ
C
Index
IAS 38
Reference
5 29 30 31 33
38A TQ Reference
34
38B
35
38E
80 89 123 276 277 442 443 466 467 546 547 736
38D
38C
38F
38G
38J
38H
04/26/2013 13:17:27
D 1 2 3
Intangible Assets
Recognition/measurement requirement This section of the questionnaire addresses IAS 38 which prescribes the accounting treatment for intangible assets that are not specifically dealt with in another Standard. The principal issues are when an intangible asset may be recognised, as well as the determination of the subsequent carrying amount. The Standard prescribes certain criteria that should be met before an intangible asset may be recognised.
SIC 32 Intangible Assets Web Site Costs provides guidance on the accounting treatment for internal expenditure on the development and operation of an entity's own web site for internal or external access.
5 29
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
35
80
736 Retirements and disposals 737 assets from which no further economic benefits are anticipated? 777 SIC 32 Intangible Assets Web Site Costs 778
Has the entity incurred costs related to the development of an internet web site or intranet? Did the entity sell, scrap or otherwise dispose of any intangible assets during the year, or are there intangible
04/26/2013 13:17:27
F 1 2 3
AcctTQSummary N o
N/A Guidance
5 29 30 31 33 34
Comments
Show
35
80 89 123 276 277 442 443 466 467 546 547 736 737 777 778
04/26/2013 13:17:27
B 1 2 3
TQ
C
Index
IAS 38
Reference
5 13 14 16 17 18 19 20
IAS 38:118(a) IAS 38:118(a) IAS 38:118(b) 38A TQ Reference
IAS 38:118(c)
21
IAS 38:118(d) IAS 38:118(e)
22 23 24
25
26
27 28 29 30 31
04/26/2013 13:17:27
B 32
C
IAS 38:119
IAS 38:120
49
IAS 38:121
50
63 79
IAS 38:122(b)
80
IAS 38:122(c)
86 97
IAS 38:122(d)
98
IAS 38:122(e)
IAS 38:128(a)
IAS 38:128(b)
147
04/26/2013 13:17:27
D 1 2 3
Intangible Assets
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 38 which prescribes the accounting treatment for intangible assets that are not specifically dealt with in another Standard. The principal issues are when an intangible asset may be recognised, as well as the determination of the subsequent carrying amount. The Standard prescribes certain criteria that should be met before an intangible asset may be recognised.
5 13 14
For additional guidance, select Show in the next column Presentation/disclosure requirement Did the entity recognise any intangible assets on its balance sheet? Yes / No / N/A Yes
16 Disclosures - General 17 18 19 20
An entity shall disclose the following for each class of intangible assets, distinguishing between internally generated intangible assets and other intangible assets: a) b) c) whether the useful lives are indefinite or finite; the useful lives or the amortisation rates used for intangible assets with finite useful lives; the amortisation methods used for intangible assets with finite useful lives;
21
d) the gross carrying amount and any accumulated amortisation (aggregated with accumulated impairment losses) at the beginning and end of the period; e) the line item(s) of the statement of comprehensive income in which any amortisation of intangible assets is included; and f) a reconciliation of the carrying amount at the beginning and end of the period showing:
22 23 24
i) additions, indicating separately those from internal development, those acquired separately, and those acquired through business combinations; ii) assets classified as held for sale or included in a disposal group classified as held for sale in accordance with IFRS 5 and other disposals; iii) increases or decreases during the period resulting from revaluations under paragraphs 75, 85 and 86 of IAS 38 and from impairment losses recognised or reversed in other comprehensive income in accordance with IAS 36 (if any); iv) impairment losses recognised in profit or loss during the period in accordance with IAS 36 (if any); v) impairment losses reversed in profit or loss during the period in accordance with IAS 36 (if any); vi) any amortisation recognised during the period;
25
26
27 28 29 30 31
vii) net exchange differences arising on the translation of the financial statements into the presentation currency and on the translation of a foreign operation into the presentation currency of the entity; and viii) other changes in the carrying amount during the period.
04/26/2013 13:17:27
D 32
The classes of intangible assets are disaggregated (aggregated) into smaller (larger) classes if this results in more relevant information for the users of the financial statements.
49
An entity discloses information on impaired intangible assets in accordance with IAS 36 Impairment of Assets in addition to the information required by paragraphs 118(e)(iii) to (v) of IAS 38 (see above).
50
An entity discloses the nature and amount of any change in an accounting estimate relating to intangible assets that has a material effect in the current period or that is expected to have a material effect in subsequent periods, under IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
63
Did the entity have any intangible assets assessed as having indefinite lives?
86
99
108 Intangible assets measured after recognition using the revaluation model 109
Did the entity account for any intangible assets at revalued amounts?
147
b) a brief description of significant intangible assets controlled by the entity but not recognised as assets because they did not meet the recognition criteria of IAS 38 or because they were acquired or generated before IAS 38 (1998 version) was effective.
04/26/2013 13:17:27
F 1 2 3
PresentTQSummary
5 13 14 16 17 18 19 20
Comments
21
22 23 24
25
26
27 28 29 30 31
04/26/2013 13:17:27
F 32
49
50
63 79 80
86 97 98
147
04/26/2013 13:17:27
B 1 2 3
TQ
C
Index
IAS 39
Reference
Recognition/measurement requirement DETAILED COMPLIANCE QUESTIONS SCOPE (PARAGRAPHS 2-7) Does one or more of the scope exceptions result in the contract, or a portion of the contract falling outside IAS 39? EMBEDDED DERIVATIVES (PARAGRAPHS 10-13) Is the contract a financial asset? Is the contract a financial liability? Does the contract contain one or more embedded derivatives? INITIAL RECOGNITION (PARAGRAPH 14 & PARAGRAPH 38) Is the contract a derivative instrument? Has the entity removed (i.e. derecognised) a previously recognised financial asset (or a portion of the financial asset) from its statement of financial position? DERECOGNITION OF A FINANCIAL LIABILITY (PARAGRAPHS 39 - 42) Has the entity removed (i.e. derecognised) a previously recognised financial liability (or a portion of the financial liability) from its statement of financial position? INITIAL MEASUREMENT (PARAGRAPHS 43 - 44) SUBSEQUENT MEASUREMENT OF FINANCIAL LIABILITIES (PARAGRAPH 47) IMPAIRMENT AND UNCOLLECTIBILITY OF FINANCIAL ASSETS (PARAGRAPHS 58 - 70) HEDGING (PARAGRAPHS 71 - 102)
Has the entity designated a hedging relationship for accounting purposes between one or more hedging instruments and one or more hedged items?
04/26/2013 13:17:27
E 1 2 3
F
AcctTQSummary
5 6 47 Yes / No / N/A 48 49 52 206 211 231 249 392 453 505 1027 1030 1126 1494 1897 2080 2127 2866
Comments
04/26/2013 13:17:27
B 1 2 3
TQ
C
Index
IAS 39
Reference
5 15 16 17 36
39B 39A TQ Reference
37
04/26/2013 13:17:28
D 1 2 3
5 15
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
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F 1 2 3
PresentTQSummary
5 15 16 17 36 37
Comments
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B 1 2 3
TQ
C
Index
IAS 40
Reference
5 32 33 34 44 75 76 77
40B 40C 40I 40A 40H TQ Reference
229
40J
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D 1 2 3
Investment Property
Recognition/measurement requirement This section of the questionnaire addresses IAS 40, which prescribes the accounting treatment for investment property. The Standard allows entities to choose between a fair value model and a cost model for the measurement of investment property. One of the key issues is the determination of whether a property meets the definition of an investment property, or is excluded from the scope of this Standard and is instead covered by IAS 16 Property, Plant and Equipment or IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.
5 32
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
116 monetary and non-monetary asset(s)? 132 Measurement after recognition 133 Selection of accounting policy 134 135
Has the entity chosen the fair value model to account for all its investment property? Has the entity chosen the cost model to account for all its investment property?
228 Disposals
During the period, did the entity dispose of any investment property (whether by sale or entering a finance 229 lease or otherwise) or permanently withdraw any investment property from use? During the period, has the entity received compensation from third parties for investment property that was
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F 1 2 3
AcctTQSummary
5 32 33 34 44 75 76 77
Comments
04/26/2013 13:17:28
B 1 2 3
TQ
C
Index
IAS 40
Reference
5 14 15 40A 17 18 19 20
IAS 40:75(c) IAS 40:75(a) TQ Reference
23
IAS 40:75(d)
24
IAS 40:75(e)
26
27 28 29 30
IAS 40:75(e)
IAS 40:75(f)
31
32
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B 33
C
IAS 40:75(g)
34 96 97
IAS 40:75(h)
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D 1 2 3
Investment Property
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 40, which prescribes the accounting treatment for the recognition and measurement of investment property and the related disclosure requirements. The Standard allows entities to choose between a fair value model and a cost model for the measurement of investment property, except in the case of investment property held under an operating lease, when the fair value model is required to be applied. One of the key issues is the determination of whether a property meets the definition of an investment property, or is excluded from the scope of this Standard and is instead covered by IAS 16 Property, Plant and Equipment, or IFRS 5 Non-current Assets Held for Sale and Discontinued Operations.
5 14
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A Yes
15 Does the entity have any investment property? 17 General disclosure requirements 18 An entity shall disclose: 19 20
a) whether it applies the fair value model or the cost model;
Does the entity apply the fair value model for any of its investment property? c) when classification is difficult (see paragraph 14 of IAS 40), the criteria it uses to distinguish investment property from owner-occupied property and from property held for sale in the ordinary course of business; d) the methods and significant assumptions applied in determining the fair value of investment property, including a statement whether the determination of fair value was supported by market evidence or was more heavily based on other factors (which the entity shall disclose) because of the nature of the property and lack of comparable market data;
23
24
26
e) the extent to which the fair value of investment property (as measured or disclosed in the financial statements) is based on a valuation by an independent valuer who holds a recognised and relevant professional qualification and has recent experience in the location and category of the investment property being valued;
27 28 29 30
f)
if there has been no valuation by an appropriately qualified independent valuer, that fact;
g) i)
the amounts recognised in profit or loss for: rental income from investment property;
ii) direct operating expenses (including repairs and maintenance) arising from investment property that generated rental income during the period; iii) direct operating expenses (including repairs and maintenance) arising from investment property that did not generate rental income during the period; and
31
32
iv) where the entity has selected a different model (cost or fair value) to account for its investment property backing liabilities that pay a return linked directly to the fair value of, or the returns from, specified assets (including the investment property), the cumulative change in fair value recognised in profit or loss on a sale of investment property from a pool of assets in which the cost model is used into a pool in which the fair value model is used (see paragraph 32C of IAS 40);
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D 33
h) the existence and amounts of restrictions on the realisability of investment property or the remittance of income and proceeds of disposal; and
34
i) contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancements.
96 Cost model 97
Did the entity apply the cost model for any of its investment property?
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F 1 2 3
PresentTQSummary
5 14 15 17 18 19 20
Comments
23
24
26
27 28 29 30
31
32
04/26/2013 13:17:28
F 33
34 96 97
04/26/2013 13:17:28
B 1 2 3
TQ
C
Index
IAS 41
Reference
5 26 27 28 29 90 91 108
41C 41B 41A TQ Reference
109
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D 1 2 3
Agriculture
Recognition/measurement requirement This section of the questionnaire addresses IAS 41 which prescribes the accounting treatment for agricultural activity. The primary issues are determining whether the Standard is applicable to the activities undertaken by the entity, and the determination of the fair value of biological assets and agricultural produce.
5 26
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
27 Detailed compliance Questions 28 Recognition and measurement 29 or control any biological assets?
Is the entity involved in agricultural or farming activities with respect to living plants or animals or does it own
04/26/2013 13:17:28
F 1 2 3
AcctTQSummary
5 26 27 28 29 90 91 108 109
Comments
04/26/2013 13:17:28
B 1 2 3
TQ
C
Index
IAS 41
Reference
04/26/2013 13:17:29
D 1 2 3
Agriculture
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IAS 41 which prescribes the accounting treatment for agricultural activity. Agricultural activity is the management by an entity of the biological transformation of living animals or plants (biological assets) for sale, into agricultural produce, or into additional biological assets. The primary issues are determining whether the Standard is applicable to the activities undertaken by the entity, and the determination of fair value of biological assets and agricultural produce.
For additional guidance, select Show in the next column Presentation/disclosure requirement Yes / No / N/A
04/26/2013 13:17:29
F 1 2 3
PresentTQSummary
04/26/2013 13:17:29
B 1 2 3
TQ
C
Index
IFRIC 5
Reference
5 14 15 17 22 24 29 31
IFRIC 5:13 IFRIC 5:13 IFRIC 5:11 IFRIC 5:12 TQ IFRIC 5A Reference
IFRIC 5:12
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D 1 2 3
Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
Presentation/disclosure requirement This section of the checklist addresses the presentation and disclosure requirements of IFRIC 5, which deals with the accounting, in the financial statements of the contributor, for interests in decommissioning, restoration and environmental rehabilitation funds established to fund some or all of the costs of decommissioning assets or to undertake environmental rehabilitation. For additional Guidance, select "Show" in the next column Recognition/measurement requirement Does the entity have any interests in decommissioning, restoration and environmental rehabilitation funds, Yes / No / N/A Yes
5 14
A contributor shall disclose the nature of its interest in a fund and any restrictions on access to the assets in the Does the contributor have an obligation to make potential additional contributions that is not recognised as a
It shall make the disclosures required by paragraph 86 of IAS 37 Provisions, Contingent Liabilities and
Does the contributor account for its interest in the fund in accordance with paragraph 9 of IFRIC 5? It shall make the disclosures required by paragraph 85(c) of IAS 37 (reimbursements see relevant section of
31 this checklist).
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F 1 2 3
PresentTQSummary
5 14 15 17 22 24 29 31
Comments
04/26/2013 13:17:29
B 1 2 3
TQ
C
Index
IFRIC 12
Reference
8 32 33 34 62 110
12A 12B TQ Reference
12C
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D 1 2 3
8 32
For additional guidance, select Show in the next column Recognition/measurement requirement Yes / No / N/A
33 Treatment of the operators rights over infrastructure 34 IFRIC 12? 62 IFRIC 12? 110 IFRIC 12?
Is the entity a private sector operator that is party to a service concession arrangement within the scope of Has the entity recognised a financial asset in respect of a service concession arrangement in accordance with
Has the entity recognised an intangible asset in respect of a service concession arrangement in accordance with
04/26/2013 13:17:29
F 1 2 3
AcctTQSummary
8 32 33 34 62 110
Comments
04/26/2013 13:17:29
B 1 2 3
TQ
C
Index
SIC 29
Reference
5 15 16 18 19 20
SIC-29:6(a) SIC-29:6(b) TQ SIC 29 SIC-29:6 Reference
21
SIC-29:6(c)
22 23 24 25 26 27 28 29 30
31 33
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D 1 2 3
5 15 16
For additional guidance, select Show in the next column Presentation/disclosure requirement Was the entity an operator or a grantor under service concession arrangements? All aspects of a service concession arrangement shall be considered in determining the appropriate disclosures Yes / No / N/A Yes
18 in the notes.
21
b) significant terms of the arrangement that may affect the amount, timing and certainty of future cash flows (e.g. the period of the concession, re-pricing dates and the basis upon which re-pricing or renegotiation is determined); c) i) ii) iii) the nature and extent (e.g. quantity, time period or amount as appropriate) of: rights to use specified assets; obligations to provide or rights to expect provision of services; obligations to acquire or build items of property, plant and equipment;
22 23 24 25 26 27 28 29 30
iv) v) vi) d) e)
obligations to deliver or rights to receive specified assets at the end of the concession period; renewal and termination options; and other rights and obligations (e.g. major overhauls); and
changes in the arrangement occurring during the period; and how the service arrangement has been classified.
31 33
An operator shall disclose the amount of revenue and profits or losses recognised in the period on exchanging construction services for a financial asset or an intangible asset.
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F 1 2 3
PresentTQSummary
5 15 16 18 19 20
Comments
21
22 23 24 25 26 27 28 29 30
31 33
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B 1 2 3
TQ
C
Index
IFRIC 17
Reference
6 7 8 9 37 76 79 80 120
17B 17A TQ Reference
121 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141
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D 1 2 3
IAS 1 requires an entity to present details of dividends recognised as distributions to owners either in the statement of changes in equity or in the notes to the financial statements. When an entity declares a distribution and has an obligation to distribute the assets concerned to its owners, it must recognise a liability for the dividend payable. Consequently, this Interpretation addresses the following issues: a) b) When should the entity recognise the dividend payable? How should an entity measure the dividend payable?
6 7 8 9 37 76
c) When an entity settles the dividend payable, how should it account for any difference between the carrying amount of the assets distributed and the carrying amount of the dividend payable? For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
120 carrying amount of the dividend payable when an entity settles the dividend payable
121 of the dividend payable when the entity has settled the dividend payable? 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141
Has there been any difference between the carrying amount of the assets distributed and the carrying amount
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F 1 2 3
AcctTQSummary
6 7 8 9 37 76 79 80 120
Comments
121 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141
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B 1 2 3 4 32 54 55 17A 57 59 60
TQ TQ
C
Index
IFRIC 17
Reference
Reference
61
IFRIC 17:17
63 64 65
66
67 69
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D 1 2 3 4 32 54
55 Has the entity distributed non-cash assets as dividends to its owners? 57 loss.
An entity shall present the difference described in paragraph 14 of IFRIC 17 as a separate line item in profit or
61
b) the increase or decrease in the carrying amount recognised in the period in accordance with paragraph 13 of IFRIC 17 as result of a change in the fair value of the assets to be distributed. If, after the end of a reporting period but before the financial statements are authorised for issue, an entity
the carrying amount of the asset to be distributed as of the end of the reporting period; and
66
c) the estimated fair value of the asset to be distributed as of the end of the reporting period, if it is different from its carrying amount, and the information about the method used to determine that fair value required by IFRS 7 Financial Instruments: Disclosure paragraph 27-27B(a).
67 69
c) the fair value of the asset to be distributed as of the end of the reporting period, if it is different from its carrying amount, and the information about the method(s) used to measure that fair value required by paragraphs 93(b), (d), (g) and (i) and 99 of IFRS 13 Fair Value Measurement.
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F 1 2 3 4 32 54 55 57 59 60
Comments PresentTQSummary
61
63 64 65
66
67 69
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B 1 2 3
TQ
C
Index
IFRIC 18
Reference
D 1 2 3
Transfers of assets from customers may also occur in industries other than utilities. For example, an entity outsourcing its information technology functions may transfer its existing items of property, plant and equipment to the outsourcing provider. In some cases, the transferor of the asset may not be the entity that will eventually have ongoing access to the supply of goods or services and will be the recipient of those goods or services. However, for convenience this Interpretation refers to the entity transferring the asset as the customer. The Interpretation addresses the following issues: a) Is the definition of an asset met?
7 8 9 10 11 46 87
b) If the definition of an asset is met, how should the transferred item of property, plant and equipment be measured on initial recognition? c) If the item of property, plant and equipment is measured at fair value on initial recognition, how should the resulting credit be accounted for? d) How should the entity account for a transfer of cash from its customer? For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
252 How should the entity account for a transfer of cash from its customer? 253 286
Has the entity received a transfer of cash from a customer?
F 1 2 3
AcctTQSummary
B 1 2 3
TQ
C
Index
IFRIC 19
Reference
5 6
IFRIC 19:4
8 9
10 45 88 89
19A TQ Reference
90
IFRIC 19:5
92
IFRIC 19:5
94 97 98
IFRIC 19:9 IFRIC 19:6
99
IFRIC 19:8
107 141
IFRIC 19:9
142
C
IFRIC 19:9
D 1 2 3
5 6
IFRIC 19 addresses the following issues: a) Are an entitys equity instruments issued to extinguish all or part of a financial liability consideration paid in accordance with paragraph 41 of IAS 39 Financial Instruments: Recognition and Measurement? a) Are an entitys equity instruments issued to extinguish all or part of a financial liability consideration paid in accordance with paragraph 3.3.3 of IFRS 9 Financial Instruments? Note: IFRS 9, issued in October 2010, amends paragraph 4(a) of IFRIC 19. An entity shall apply this amendment when it applies IFRS 9(2010). (b) How should an entity initially measure the equity instruments issued to extinguish such a financial liability?
8 9
10 45 88 89
(c) How should an entity account for any difference between the carrying amount of the financial liability extinguished and the initial measurement amount of the equity instruments issued? For additional Guidance, select "Show" in the next column Recognition/measurement requirement Are equity instruments issued to extinguish all or part of a financial liability consideration paid? Has the entity renegotiated the terms of a financial liability with the result that the entity is issuing equity instruments to a creditor of the entity to extinguish all or part of the financial liability? Yes Yes / No / N/A
90
Has the entity removed a financial liability (or part of a financial liability) from its statement of financial position when,
94
Has the entity removed a financial liability (or part of a financial liability) from its statement of financial position when, and only when, it is extinguished in accordance with paragraph 3.3.1 of IFRS 9(2010)?
97 Initial measurement of equity instruments issued to extinguish a financial liability 98 that liability) is extinguished? 99
Have the equity instruments issued been recognised initially and measured at the date the financial liability (or part of Has the entity, when equity instruments issued to a creditor to extinguish all or part of a financial liability recognised initially the equity instruments issued at their fair value, unless that fair value cannot be reliably measured?
107
Is only part of the financial liability extinguished? Accounting for any difference between the carrying amount of the financial liability extinguished and the
142 the consideration paid, been recognised in profit or loss, in accordance with paragraph 41 of IAS 39?
Has the difference between the carrying amount of the financial liability (or part of a financial liability) extinguished, and
D
Has the difference between the carrying amount of the financial liability (or part of a financial liability) extinguished, and 143 the consideration paid, been recognised in profit or loss, in accordance with paragraph 3.3.3 of IFRS 9(2010)?
145
176 Estimates and Errors from the beginning of the earliest comparative period presented. 177
F 1 2 3
AcctTQSummary
5 6
8 9
10 45 88 89
Comments
90
92
94 97 98
99
107 141
142
B 1 2 3 4 18 60 61 63 75 76
19A TQ TQ
C
Index
IFRIC 19
Reference
Reference
IFRIC 19:11
IFRIC 19:12
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D 1 2 3 4 18 60 61
For additional Guidance, select "Show" in the next column Presentation/disclosure requirement Has the entity issued equity instruments to extinguish all or part of a financial liability? An entity shall disclose a gain or loss recognised in accordance with paragraphs 9 and 10 of IFRIC 19 as a
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E 1 2 3 4 18 60 61 63 75 76
Yes / No / N/A Yes
F
PresentTQSummary
Comments
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B 1 2 3
TQ
C
Index
IFRIC 20
Reference
IFRIC 20:7
Reference
D 1 2 3
5 6 7 8 9 43 80
IFRIC 20 addresses the following issues: a) b) c) When should an entity recognise a stripping activity asset? How should an entity initially measure the stripping activity asset? How should an entity subsequently measure the stripping activity asset?
IFRIC 20 is effective for annual periods beginning on or after 1 January 2013 with early application permitted.
For additional Guidance, select "Show" in the next column Recognition/measurement requirement Yes / No / N/A
F 1 2 3
AcctTQSummary
B 1 2 3 4 18 58 59 60 91 92
20B 20A TQ TQ
C
Index
IFRIC 20
Reference
Reference
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D 1 2 3 4 18 58 59 Effective date 60
Is the entity applying IFRIC 20 prior to its annual period beginning on or after 1 January 2013?
For additional Guidance, select "Show" in the next column Presentation/disclosure requirement
91 Transition 92
Is the entity applying IFRIC 20 for the first time?
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E 1 2 3 4 18 58 59 60 91 92
Yes / No / N/A
F
PresentTQSummary
Comments
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