Khuôn khổ lập và trình bày báo cáo tài chính

1 IASB Conceptual Framework LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Conceptural Framework IAS — Presentation of Financial Statements IAS — Statement of Cash Flows IAS — Accounting Policies, Changes in Accounting Estimates and Errors IAS — Inventories IAS 12 — Income Taxes IAS 40 — Investment Property IAS 16 — Property, Plant and Equipment IFRS — Non-current Assets Held for Sale and Discontinued Operations IAS 17 — Leases IFRS — Financial Instruments: Disclosures IFRS — Financial Instruments IFRS 15 — Revenue from Contracts with Customers (IAS 11, 18) 7/12/2017 IAS 24 — Related Party Disclosures IAS 27 — Separate Financial Statements IAS 36 — Impairment of Assets IFRS — Operating Segments IAS — Accounting Policies, Changes in Accounting Estimates and Errors IAS 10 — Events After the Reporting Period IAS 26 — Accounting and Reporting by Retirement Benefit Plans IAS 21 — The Effects of Changes in Foreign Exchange Rates IFRS 13 — Fair Value Measurement IAS 34 — Interim Financial Reporting IFRS — Business Combinations IAS 19 — Employee Benefits IFRS 10 — Consolidated Financial Statements IAS 23 — Borrowing Costs IFRS 11 — Joint Arrangements IFRS 16 — Leases IAS 28 — Investments in Associates and Joint Ventures IFRS — Insurance Contracts IAS 20 — Accounting for Government Grants and Disclosure of Government Assistance IAS 30 — Disclosures in the Financial Statements of Banks and Similar Financial Institutions IFRS 12 — Disclosure of Interests in Other Entities LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP History 1989 – The Framework for the preparation and presentation of the Financial Statements 2010 – Framework for the Preparation and Presentation of Financial Statements 2015 - Conceptual Framework for Financial Reporting – Exposure draft Chapter New 7/12/2017 Chapter Chapter Empty New LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Chapter Old Definition Conceptual framework sets out the concepts that underlie the preparation and presentation of financial statements Accounting IFRS/IAS theory (Conceptual Framework) 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Role of the Conceptual Framework ➢ to set standards ✓ enhances consistency across standards ✓ enhances consistency over time as Board members change ✓ provides benchmark for judgments ➢ to develop accounting policies in the absence of specific standard or interpretation 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Contents of the Conceptual Framework CF 2010 Chapter 1: The objective of general purpose financial reporting Chapter 2: The reporting entity Chapter 3: Qualitative characteristics of useful financial information Chapter 4: The Framework (1989): The remaining text Underlying assumption The elements of financial statements Recognition of the elements of financial statements Measurement of elements of financial statements Concepts of capital and capital maintenance 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Contents of the Conceptual Framework CF Exposure draft 2015 Chapter 1: The objectives of general purpose financial reporting Chapter 2: Qualitative characteristics of useful financial information Chapter 3: Financial statements and the reporting entity Chapter 4: The elements of financial statements Chapter 5: Recognition and derecognition Chapter 6: Measurement Chapter 7: Presentation and disclosure Chapter 8: Concepts of capital and capital maintenance 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP The objective of general purpose financial reporting to provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity buying, selling or holding equity and debt instruments, and providing or settling loans and other forms of credit 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Useful financial information - What? Risk ? Premium ? Economic resources & claims Changes in resources & claims Changes in cash flows 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Useful financial information: Where? Statement of financial position Liquidity Current asset Non current asset Current liability Non current liability Equity Economic rescources & claims Strengths & weaknesses Liquidity & solvency 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 10 Recognition CF exposure draft 2015 What? Assets, liabilities, equity at the beginning + Increase asset, or Decrease liability Income & expenses Contributions from holders of equity claims & + distributions to equity claims Decrease asset, or Increase liability When? (1) Meets the definition of an element (2) Provides users of financial statements with relevant information and faithful representation 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 26 Derecognition CF exposure draft 2015 when ➢ loses control of all or part of the asset ➢ no longer has a present obligation for all or part of the liability 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 27 Measurement CF 1989, 2010 ➢ Historical cost Assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition ➢ Current cost Assets are carried at the amount of cash or cash equivalents that would have to be paid if the same or an equivalent asset was acquired currently ➢ Realizable (settlement) value Assets are carried at the amount of cash or cash equivalents that could currently be obtained by selling the asset in an orderly disposal ➢ Present value Assets are carried at the present discounted value of the future net cash inflows that the item is expected to generate in the normal course of business 7/12/2017 LÊ VŨ NGỌC THANH - HỒNG TRỌNG HIỆP 28 Ex Công ty Tiền Phong mua lô hàng vào ngày 12.1.20X0 với giá mua 36 triệu đồng (chưa thuế GTGT 10%, thuế khấu trừ), chi phí vận chuyển bốc dỡ kho 600.000 đồng Lô hàng tồn kho vào ngày 31.12.20X0 Giá phải trả để mua lô hàng vào thời điểm 31.12.20X0 45 triệu đồng (chưa thuế 10%) với chi phí vận chuyển bốc dỡ khoảng 800.000 đồng Tuy nhiên, lô hàng bò giảm chất lượng tồn kho lâu nên giá bán vào khoảng 18 triệu đồng (chưa thuế GTGT 10%), chi phí liên quan đến tiêu thụ ước tính 600.000 đồng Hãy tính giá trò lô hàng vào thời điểm 31.12.20X0 xác đònh theo phương pháp khác là: Giá gốc 36,6 triệu đồng Giá trò thực 17,4 triệu đồng Giá hành 45,8 triệu đồng 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 29 Measurement CF exposure draft 2015 ➢ Measurement bases ➢ Factors to consider when selecting a measurement basis 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 30 Measurement bases CF exposure draft 2015 Historical cost Current value ➢ historical cost, amortized cost, carrying amount ➢ Derived from the transaction or event that created them ➢ Do not reflect changes in prices, reflect change in consumption (depreciation or amortization), impairment, or fulfilment ➢ historical cost of the asset is no longer recoverable 7/12/2017 ➢ fair value, fulfilment value is updated at measurement date ➢ capture any positive or negative changes LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 31 Factors to consider when selecting a measurement basis CF exposure draft 2015 ➢ Must be relevant and it must faithfully represent what it purports to represent ➢ Should, as far as possible, be comparable, verifiable, timely and understandable ➢ Benefits of the information must be sufficient to justify the cost of providing that information 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 32 Concepts of capital and capital maintenance Concepts of capital Concepts of capital maintenance and the determination of profit 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 33 Concepts of capital Financial concept of capital Physical concept of capital Such as invested money or invested purchasing power, capital is synonymous with the net assets or equity of the entity Such as oprerating capability, capital is regarded as the productive capacity of the entity based on, for example, units of output per day 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 34 Concepts of capital determination of profit Financial capital maintenance maintenance and the Physical capital maintenance Nominal monetary units or units of constant purchasing power) Profit = the net assets at the end of the period - the financial (or money) amount of net assets at the beginning of the period (after excluding any distributions to, and contributions from, owners holders of equity claims during the period) 7/12/2017 Profit = the physical productive capacity (or operating capability) of the entity (or the resources or funds needed to achieve that capacity) at the end of the period - the physical productive capacity at the beginning of the period, (after excluding any distributions to, and contributions from owners holders of equity claims during the period) LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 35 Changes in the prices of assets and liabilities The principal difference between the two concepts of capital maintenance Financial capital maintenance - nominal monetary units ➢ Profit represents the increase in nominal money capital over the period ➢ Increases in the prices of assets referred to as holding gains (profits), but may not be recognized until the assets are disposed of in an exchange transaction Financial capital maintenance - constant purchasing power units ➢ Profit represents the increase in invested purchasing power over the period ➢ Only that part of the increase in the prices of assets that exceeds the increase in the general level of prices is regarded as profit The rest of the increase is treated as a capital maintenance adjustment and, hence, as part of equity 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 36 Changes in the prices of assets and liabilities (cont) Physical capital maintenance ➢ Profit represents the increase in that capital over the period ➢ All price changes of the assets and liabilities are viewed as changes in the measurement of the physical productive capacity of the entity  as capital maintenance adjustments that are part of equity and not as profit 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 37 Ex Capital maintenance On Jan X0, an inventory was purchased with the price of 100 CU On 31 Dec X0, the purchasing power increase by 10% The current value of the inventory was 130 CU The inventory was sold on 1/1/ X1 at the price of 150 CU Required: Calculate the carrying amount of inventory, P/L and OCI under different capital maintenance views 7/12/2017 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 38 Answer Accounting items Inventory (1/1/X0) Inventory (= equity) (31/12/X0) Changes in equity 31/12/X0 P/L 1/1/X1 7/12/2017 Nominal monetary Purchasing power 100 100 50 =[150 – 100] Physical 100 100 110 130 =[100x110%] 10 30 =[110-100] =[130-100] 40 20 =[150 – 110] =[150 -130] LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP 39 Relationship Concepts of capital Capital maintenance Measurement bases 7/12/2017 Financial concept of capital Financial capital maintenance - nominal monetary units Financial capital maintenance - constant purchasing power units Historical cost General price level accounting Historical cost Recoverable cost Net realizable value 1979 - 1986 LÊ VŨ NGỌC THANH - HOÀNG TRỌNG HIỆP Physical concept of capital Physical capital maintenance Current cost 1979 - 1986 Current value Fair value 40 ... hàng vào ngày 12.1.20X0 với giá mua 36 triệu đồng (chưa thuế GTGT 10%, thuế khấu trừ), chi phí vận chuyển bốc dỡ kho 600.000 đồng Lô hàng tồn kho vào ngày 31.12.20X0 Giá phải trả để mua lô hàng vào... chất lượng tồn kho lâu nên giá bán vào khoảng 18 triệu đồng (chưa thuế GTGT 10%), chi phí liên quan đến tiêu thụ ước tính 600.000 đồng Hãy tính giá trò lô hàng vào thời điểm 31.12.20X0 xác đònh