Definition & Recognition criteria:
Asset: Liability:
Present economic resource [Rights & Control] Present obligation
Controlled by the entity Past event
As result of past events
Recognition criteria Recognition criteria
1. Relevance 1. Relevance
2. Faithful presentation 2. Faithful presentation
P/L:
Function Like known
Nature Cost of sales is embedded"
Bitcoin:
Conclude
1. Identify the THEORY
Financial Asset
OR Intangible Asset => IA 2. Apply the theory
RE:
3. CONCLUDE ALWAYS
Opening balance
+ profit
+ dividend declared
+/- journals (Dr)/ Cr
Market risk: TVM:
* Currency risk Discount rate => POST-TAX!!
* Interest rate % discount
* Price risk 0.72
Credit risk: payment deferred 6 months => n = 6, PY/R = 12
* Customers in the location
Impairment indicators: WIP:
* Downgrade of credit Opening balance
* Interest rate hikes + Raw material
* Slowing demand and poor performance + Other qualifying cost
* Variable production costs
* Fixed
FV = NO transaction costs, YES to transport costs Man. Actual
x units x R
Man. Budget
IP = Sale = CGT
IP = Use = 28%
CGT = 22,8% VS 77,2%
NCAHFS Tax = 28% VS 72%
1. Lower cost/ FVC2S Indefinite UL = CGT
2. FVC2S - impairment
IA => indefinite UL
Depreciation Owner * Test annually impair
YES = UL * NO Amort
No = Shorter term/ UL (if term unknown) * Tax = CGT
FV = Rnil
Asset: Liability:
Present economic resource [Rights & Control] Present obligation
Controlled by the entity Past event
As result of past events
Recognition criteria Recognition criteria
1. Relevance 1. Relevance
2. Faithful presentation 2. Faithful presentation
P/L:
Function Like known
Nature Cost of sales is embedded"
Bitcoin:
Conclude
1. Identify the THEORY
Financial Asset
OR Intangible Asset => IA 2. Apply the theory
RE:
3. CONCLUDE ALWAYS
Opening balance
+ profit
+ dividend declared
+/- journals (Dr)/ Cr
Market risk: TVM:
* Currency risk Discount rate => POST-TAX!!
* Interest rate % discount
* Price risk 0.72
Credit risk: payment deferred 6 months => n = 6, PY/R = 12
* Customers in the location
Impairment indicators: WIP:
* Downgrade of credit Opening balance
* Interest rate hikes + Raw material
* Slowing demand and poor performance + Other qualifying cost
* Variable production costs
* Fixed
FV = NO transaction costs, YES to transport costs Man. Actual
x units x R
Man. Budget
IP = Sale = CGT
IP = Use = 28%
CGT = 22,8% VS 77,2%
NCAHFS Tax = 28% VS 72%
1. Lower cost/ FVC2S Indefinite UL = CGT
2. FVC2S - impairment
IA => indefinite UL
Depreciation Owner * Test annually impair
YES = UL * NO Amort
No = Shorter term/ UL (if term unknown) * Tax = CGT
FV = Rnil
