ISBN:
978-80-87212-13-4
EAN: 9788087212134
Published: April 2009, by Leges
Introduction
The
aim of this publication
Chart
of accounts
Audit
trail
Structure
of this publication
Abbreviations
and acronyms
Caveat
Important
Interaction
with tax law
As
at
Accounting
policy in general
Examples
Statement
of Financial Position (Balance Sheet)
Example
1, Example
2
Assets,
current
assets
Cash
and cash equivalents
Transfer
of cash into petty cash
Purchase
of negotiable cash equivalents
Transfer
of meal coupon to employee
Acquisition
of very-short term investment
Restricted
assets (funds)
Short-term
investments
Marketable
securities
Mark-to-market
(fair value) accounting
Mark-to-market
with allowance
Other
short-term (non-marketable) investments
Present
value accounting
Amortized
cost accounting
Receivables
Measurement
Examples
Trade
(account) receivable
Rapid
payment discount
Quantity
discount
Extended
credit terms
Interest
only
Effective interest
Single
payment
Installments
Imputed rate
Subsequent
measurement
Allowance
for doubtful accounts
Aging
schedule method
Percentage
of sales method
Additional
issues
Loans
Subscribed
stock
Related
party receivables
Pledging,
assigning and factoring (discounting)
Factoring
without recourse
Factoring
with recourse
Inventory
Full
absorption costing
Exclusions
Administrative
and general expenses
Selling
expenses
Delivery
and warehousing
Abnormal
amounts of wasted materials, labor or other production costs
Idle
or underutilized plant capacity
Normal
capacity
Procedures
in general
Cost
of sales
Examples
Merchandise
Perpetual
method
Periodic
method
Shrinkage
Cash
discounts, returns and allowances, delivery and related costs
Delivery,
supplemental example
Disclosure
Manufacturing
Example
Pre-production
phase
Production
phase
Culmination
of the earnings process
Reporting
Reporting
in more detail
Costing
system
Normal
capacity
Complicated approach
FIFO
Subsequent
measurement (lower of cost or market)
Allowance
approach
Accruals
Pre-paid
versus accrued
Examples:
Pre-paid
expenses
Accrued
revenue
Insurance
claim
Unearned
revenue
Non-returnable
deposits
Pre-payments
Returnable
deposits
Accrued
expenses (estimated items)
Events
after the Reporting Period
Adjusting
event
Non-adjusting
event
Property
plant and equipment
Recognition
Disclosure
Measurement
Initial
Measurement
Subsequent
measurement
Useful
life and depreciation period
Depreciation
method
Salvage
value
Capitalized
subsequent costs
Annual
review
Impairment
Revaluation
model
Examples:
Acquisition
and disposal
Immaterial
error
Material
error
Change
in estimate
Depreciation
methods
Units
of production
Straight
line
Sum-of-the-years'
digits
Declining
balance
Decelerated
depreciation methods
Statutory
(tax) deprecation
Capitalized
subsequent costs
Single
component
Multiple
components
Repairs
and maintenance
Spare
parts inventory
Enhancements
Self-manufactured
asset
Leasehold
improvements
Lump-sum
purchases
Reinstallation,
reorganization a relocation
Low
value assets
Group
method
Composite
method
Expense
an incurred
Intangible
assets
Recognition
and disclosure
Legal
intangible assets
Contractual
intangible assets
Separable
intangible assets
Goodwill
Initial
Measurement
Acquired
separately
Acquired
in business combination
Subsequent
measurement
Useful
life and depreciation period
Amortization
method
Salvage
value
Capitalized
subsequent costs
In
process R&D
Annual
review
Revaluation
model
Examples:
Acquired
separately
Acquired
in business combination
Mergers,
acquisitions and consolidation
Consolidation
Examples
Goodwill
valuation example
Leasing
Recognition
Financial
lease
Measurement
Initial
Measurement (financial lease)
Subsequent
measurement
Disclosure
Examples
Real
estate
Sale
lease-back
Related issues
Capitalized
interest
Borrowing
costs
Specific
borrowings
General
borrowings
Removal
costs (retirement obligations)
Asset
impairment
Impairment
test
Recoverable
amount
Examples
Aggregating,
disaggregating
Assets
to be disposed of
Other-fixed-assets
Organization
costs
Liabilities
Measurement
Extinguishment
Examples
Trade
payable
Rapid
payment discount
Quantity
discount
Extended
payment terms
Installments
Bonds
(debentures)
Debt
issue costs
Long-term
loans
Discount
(premium) allocation
Liability
plus “unstated rights or privileges”
Asset
acquired for financial instrument
Provisions
Allowances,
funds, provisions and reserves
Equity
Paid-in
capital, share capital (IFRS)
Additional
paid in capital
Legal
capital
Retained
earnings
Appropriated
retained earnings (reserves)
Accumulated
other comprehensive income
Examples
Other
capital accounts
Disclosure
Income
statement
Examples
Recognition
Revenue
Net
revenue
Cost
of sales
Selling
(distribution) expenses
Administrative
(general) expenses
Non-operating
items (gains, losses, other revenue and expense)
Income
tax expense
Revenue
recognition (inventory derecognition)
Services
Examples:
Sale
of goods
Goods
in transit
Installation
Sale
of goods plus supplemental service
Services
Single
act service
Initial
direct costs
Accruals
Multiple-act
service
Completed
contract
Long-term
(construction) contracts
The
percentage-of-completion method
Zero-profit
method
Early
contract stage
Losses
Examples
Non-monetary
transactions
Barter
sale
Barter
sale without commercial substance
Donations
and subsidies
Additional issues
Statement
of cash flows
Foreign
currencies
Transactions
Fair
value hedge
Cash
flow hedge
Functional
currency
Current
rate method
Monetary/non-monetary
method
Appendix
“IFRS
chart of accounts”
