CFA一级财务报
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关于同志近三年现实表现材料材料类招标技术评分表图表与交易pdf视力表打印pdf用图表说话 pdf
GAAP与IFRS异同全面总结CFA一级财务报表GAAP与IFRS异同全面总结PAGEPAGE9CFA一级财务报表GAAP与IFRS异同全面总结READING31:FINANCIALREPORTINGSTANDARDS.GAAPIFRSSimilaritiesPurposeofFrameworkTheFASBframeworkresideslowerinhierarchy.Managementisnotrequiredtoprioritizeitifnostandardisavailable.ManagementisexplicitlyrequiredtoprioritizetheIASBframeworkifthereisnostandardorinterpretationavailable.Boththeframeworksaresimilarintheirpurposetoassistindevelopingandassistingstandards.ObjectivesoffinancialstatementItprovidesdifferentobjectivesforbusinessentitiesversusnonbusinessentities.Itgivesoneobjectivefordifferentbusinessentities.Bothframeworkshaveabroadfocustoproviderelevantinformationtoawiderangeofusers.UnderlyingassumptionsAlthoughitrecognizes,butnotgivenmuchprominenceisgiventoaccrualandgoingconcernbasis.InfactgoingconcernassumptionisnotwelldevelopedinparticularGiveimportancetoaccrualandgoingconcernbasisQualitativeCharacteristicsSamecharacteristicsbutwithahierarchyRelevanceandReliabilityareprimaryqualities.Comparabilityisthesecondaryquality.Understandability,treatedasuser-specificIthasthesamecharacteristics(understandability,comparability,relevanceandreliability)butthereisnosuchhierarchy.Thecharacteristicsaresame.ApproachRulesbasedapproachinthepastbutmovingtowardsadoptingobjectorientedapproachPrinciplesbasedapproachFinancialstatementelements(definition,recognition,andmeasurement)PerformanceelementsElementsarerevenues,expenses,gains,losses,andcomprehensiveincome.RevenuesandExpensesFinancialPositionelementsAsset:afutureeconomicbenefit.Term‘Probable’isusedtodefineassetsandliabilitieselements.Asset:afutureeconomicresourcewithwhichfutureeconomicbenefitsareexpected‘Probable’isapartoftheframeworkrecognitioncriteria.RecognitionofelementsDoesnotdiscuss“Probable”forrecognitioncriteria.Hasseparatecriteriabasedupon“Relevance”IASBframeworkrequiresthatitisprobablethatanyfutureeconomicbenefittoflowto/fromtheentity.MeasurementofelementsFASBgenerallyprohibitsrevaluationsexceptforcertaincategorieswhichmustbecarriedatfairvalue(discussedinlatertopics).Revaluationisusuallypermitted(discussedinlatertopics)Measurementattributeslikehistoricalcost,currentcost,settlementvalue,currentmarketvalue,andpresentvaluearebroadlyconsistent.READING32:COMPONENTSANDFORMATOFTHEINCOMESTATEMENT.GAAPIFRSSimilaritiesRevenueRecognitionItspecifiesthatrevenueshouldberecognizedwhenitis“realizedorrealizableandearned.”Thereisevidenceofanarrangementbetweenbuyerandseller.Theproducthasbeendelivered,ortheservicehasbeenrendered.Thepriceisdetermined,ordeterminable.Thesellerisreasonablysureofcollectingmoney.Thebasicrevenuerecognitiondealwiththedefinitionof“earned.”Theconditionsare:Theentityhastransferredtothebuyerthesignificantrisksandrewardsofownershipofthegoods;Theentityretainsneithercontinuingmanagerialinvolvementtothedegreeusuallyassociatedwithownershipnoreffectivecontroloverthegoodssold;Theamountofrevenuecanbemeasuredreliably;Itisprobablethattheeconomicbenefitsassociatedwiththetransactionwillflowtotheentity;andThecostsincurredortobeincurredinrespectofthetransactioncanbemeasuredreliably.RevenueRecognition(Service)DoesnotdealseparatelyTheoutcomeofservicecanbeestimatedreliably,revenueassociatedwiththetransactionwillberecognizedwithreferencetothestageofcompletionofthetransactionatthebalancesheetdate.Theconditionstomeasurereliablyare:Theamountofrevenuecanbemeasuredreliably;Itisprobablethattheeconomicbenefitsassociatedwiththetransactionwillflowtotheentity;Thestageofcompletionofthetransactionatthebalancesheetdatecanbemeasuredreliably;andThecostsincurredforthetransactionandthecoststocompletethetransactioncanbemeasuredreliably.LongtermContractsUnder.GAAP,adifferentmethodisusedwhentheoutcomecannotbemeasuredreliably,termedthe“completedcontractmethod.”Underthecompletedcontractmethod,thecompanydoesnotreportanyrevenueuntilthecontractisfinished.Under.GAAP,thecompletedcontractmethodisalsoappropriatewhenthecontractisnotalong-termcontract.Iftheoutcomeofthecontractcannotbemeasuredreliably,thenrevenueisonlyreportedtotheextentofcontractcostsincurred(ifitisprobablethecostswillberecovered).Costsareexpensedintheperiodincurred.Underthismethod,noprofitwouldbereporteduntilcompletionofthecontract.IFRSprovidethatwhentheoutcomeofaconstructioncontractcanbemeasuredreliably,revenueandexpensesshouldberecognizedinreferencetothestageofcompletion..GAAPhasasimilarrequirement.UnderbothIFRSand.GAAP,ifalossisexpectedonthecontract,thelossisreportedimmediately,notuponcompletionofthecontract,regardlessofthemethodused.Barter.GAAPstatesthatrevenuecanberecognizedatfairvalueonlyifacompanyhashistoricallyreceivedcashpaymentsforsuchservicesandcanthususethishistoricalexperienceasabasisfordeterminingfairvalue.UnderIFRS,revenuefrombartertransactionsmustbemeasuredbasedonthefairvalueofrevenuefromsimilarnonbartertransactionswithunrelatedparties(partiesotherthanthebarterpartner)GrossVs.NetReportingToreportgrossrevenues,thefollowingcriteriaarerelevant:Thecompanyistheprimaryobligorunderthecontract,bearsinventoryriskandcreditrisk,canchooseitssupplier,andhasreasonablelatitudetoestablishprice.Ifthesecriteriaarenotmet,thecompanyshouldreportrevenuesnetDepreciationAmortizationInmostcasesIFRSand.GAAP,amortizableintangibleassetsareamortizedusingthestraight-linemethodwithnoresidualvalue.Goodwillandintangibleassetswithindefinitelifearenotamortized.Instead,theyaretestedatleastannuallyforimpairment.DiscontinuedOperationsTheincomestatementreportsseparatelytheeffectofthisdisposalasa“discontinued”operationunderbothIFRSand.GAAP.ExtraordinaryItemsUnder.GAAP,anextraordinaryitemisonethatisbothunusualinnatureandinfrequentinoccurrence.IFRSprohibitsclassificationofanyincomeorexpenseitemsasbeing“extraordinary.”EarningsPershareUnder.GAAP,equityforwhichEPSispresentedisreferredtoascommonstockorcommonshares.UnderIFRS,thetypeofequityforwhichEPSispresentedisordinaryshares.BothIFRS&.GAAPrequirethepresentationofEPSonthefaceoftheincomestatementfornetprofitorlossfromcontinuingoperations.TreasuryStockMethodUnder.GAAP,whenacompanyhasstockoptions,warrants,ortheirequivalentsoutstanding,thedilutedEPSiscalculatedusingthetreasurystockmethodUnderIFRS,requiresasimilarcomputationbutdoesnotrefertoitasthe“treasurystockmethod.”ComprehensiveIncomeAccordingto.GAAP,fourtypesofitemsaretreatedasothercomprehensiveincome.Foreigncurrencytranslationadjustments.Unrealizedgainsorlossesonderivativescontractsaccountedforashedges.Unrealizedholdinggainsandlossesonacertaincategoryofavailable-for-salesecurities.Changesinthefundedstatusofacompany’sdefinedbenefitpost-retirementplans.READING33:UNDERSTANDINGTHEBALANCESHEET.GAAPIFRSSimilaritiesBalancesheetillustrationsUnder.GAAPcurrentassetsandcurrentliabilitiesareshownbeforelongtermassetsandliabilitiesrespectively.Itrequiresthatminorityinterestsbepresentedontheconsolidatedbalancesheetasaseparatecomponentofstock-holders’equityandlabeledseparately.Entitywithmultipleminorityinterestsmaypresentinaggregate.UnderIFRStheminoritysectionisshown,asrequired,intheequitysection.Noncurrentassets,ascommonpracticeareshownbeforecurrentassets.MeasurementbasisThenotestofinancialstatementsandmanagement’sdiscussionandanalysisareintegralpartsofthe.GAAPandIFRSfinancialreportingprocesses.InventoriesLIFOisallowedunder.GAAPalongwithFIFO,specificidentificationandweightedaverageLIFOisnotallowedunderIFRSwhereasFIFO,specificidentificationandweightedaverageareallowedSpecificallyidentifiableintangibleassets.GAAPprohibitsthecapitalizationasanassetofalmostallresearchanddevelopmentcosts.Allsuchcostsusuallymustbeexpensed.Generally,under.GAAP,acquiredintangibleassetsarereportedasseparatelyidentifiableintangibles(asopposedtogoodwill)iftheyarisefromcontractualrights(suchasalicensingagreement),otherlegalrights(suchaspatents),orhavetheabilitytobeseparatedandsold(suchasacustomerlist).UnderIFRS,specificallyidentifiableintangibleassetsarerecognizedonthebalancesheetifitisprobablethatfutureeconomicbenefitswillflowtothecompanyandthecostoftheassetcanbemeasuredreliably(externallypurchased).IFRSprohibitsthecapitalizationofcostsasintangibleassetsduringtheresearchphase.Instead,thesecostsmustbeexpensedontheincomestatement.Costsincurredinthedevelopmentstagecanbecapitalizedasintangibleassetsifcertaincriteriaaremet.InternallycreatedidentifiableintangiblesarelesslikelytobereportedonthebalancesheetunderIFRSor.GAAPratherexpensedoutGoodwillUnderbothIFRS&.GAAPGoodwillshouldbecapitalizedandtestedforimpairmentannually.READING34:UNDERSTANDINGTHECASHFLOWSTATEMENT.GAAPIFRSSimilaritiesInterestsreceivedOperatingcashflowOperatingorInvestingcashflowInterestpaidOperatingcashflowOperatingorFinancingcashflowDividendsreceivedOperatingcashflowOperatingorInvestingcashflowDividendspaidFinancingcashflowOperatingorFinancingcashflowBankoverdraftsNotconsideredascashorcashequivalents;classifiedasfinancingConsideredpartofcashequivalentTaxespaidOperatingGenerallyoperatingbutaportioncanbeinvestingorfinancingifidentifiedseparatelywiththesecategoriesFormatstatementofIfdirectisusedreconciliationofNIwithOperatingcashflowmustbeprovidedNosuchrequirementtoprovideanyreconciliationDirectorIndirect;encouragedDirectisDisclosuresIfnotpresentedonthecashflowstatement,bothinterestandtaxespaidmustbedisclosedinfootnotesTaxcashflowsmustbeseparatelydisclosedinthecashflowstatementPreviousYearsStatementsThreeyearsofcashflowstatementsareprovidedTwoyearsofcashflowstatementsareprovidedREADING35:FINANCIALANALYSISTECHNIQUES.GAAPIFRSSimilaritiesSegmentReportingRequirementsaresimilartoIFRSbutlessdetailed.DisclosureofSegmentLiabilitiesisanoticeableomissionIFRSrequiresthedetailedreportingofsegmentsREADING36:INVENTORIES.GAAPIFRSSimilaritiesCostofInventoriesUnderbothIFRSand.GAAPthecotstobeincludedininventoriesandthoseneededtobeexpensedimmediatelyaresame.InventoryValuationMethodsLIFOispermittedLIFOisnotpermittedUnderbothIFRSand.GAAPspecificidentification,weightedaverageandFIFOareallowed.MeasurementofInventoryValueInventoriesaremeasuredatlowerofcostsormarketwheremarketisthecurrentreplacementcostwhichcannotbegreaterthanNRVandlowerthanNRVminusProfitmargin.InventoriesshouldbemeasuredatlowerofcostandNRV(netreleasablevalue).ReversalofWrite-down.GAAPprohibitsanyreversalofwrite-down.Theamountofanyreversalofanywrite-downofinventoryarisingfromanincreaseinnetrealizablevalueisrecognizedasareductionincostofsales(COGS)MarktoMarket(presentingonfairvalue).GAAParesimilartoIFRSinthetreatmentofinventoriesofagriculturalandforestproductsandmineralores.Mark-to-marketinventoryaccountingisallowedforrefinedbullionofpreciousmetals.Disclosures.GAAPrequireofdisclosureofincomefromLIFOLiquidationandsignificantestimatesrelatedtoinventories.IFRSrequirestheamountofwritedowntobedisclosedandthecircumstanceswhichledtothewritedownofinventoriesOtherdisclosuresaresimilar.ChangesininventoryvaluationmethodUnder.GAAP,acompanymakingachangeininventoryvaluationmethodisrequiredtoexplainwhythenewlyadoptedinventoryvaluationmethodissuperiorandpreferabletotheoldmethod.IfacompanychangesfromLIFOtoanyothermethodretrospectiveapplicationisnecessary.IfacompanychangestoLIFOmethodthenprospectiveapplicationisnecessaryUnderIFRS,achangeinaccountingpolicy,alsocostformula,isacceptableonlyifthechangeresultsinthefinancialstatementsprovidingreliablemorerelevantinformationabouttheeffectsoftransactions,otherevents,orconditionsonthebusinessfinancialposition,financialperformance,orcashflows.READING37:LONGLIVEDASSETS.GAAPIFRSSimilaritiesAcquisitionofLonglivedAssets.GAAPdoesnotnettheinterests.UnderIFRS,incomeearnedontemporarilyinvestingtheborrowedmoniesdecreasestheamountofborrowingcostseligibleforcapitalization.Intangibleassetsdevelopedinternally.GAAPrequiresbothresearchanddevelopmentcoststobeexpensedexceptforsoftwaredevelopmentUnderIFRStheresearchcostisexpensedwhereasthedevelopmentcostiscapitalizedasanintangibleassetThetreatmentofsoftwaredevelopmentcostsunder.GAAPissimilartothetreatmentofallcostsofinternallydevelopedintangibleassetsunderIFRS.IntangibleassetsacquiredinaBusinessCombinationUnder.GAAP,therearetwocriteriatojudgewhetheranintangibleassetacquiredinabusinesscombinationshouldberecognizedseparatelyfromgoodwill:TheassetmustbeeitheranitemarisingfromcontractuallegalrightsAnitemthatcanbeseparatedfromtheacquiredcompanyUnderIFRS,theacquiredindividualassetsincludeidentifiableintangibleassetsthatmeetthedefinitionalandrecognitioncriteria.Ifitdoesn’tthenitwillberecordedasgoodwillDepreciation/Amortization.ofLonglivedassets.GAAPrequiresthecostmodelofreportingforlonglivedassetsThecostmodelispermittedunderIFRSRevaluationmethod.GAAPdonotpermittheuseofrevaluationmethodIFRSpermitstherevaluationmethodReviewingestimates.GAAPdoesnotrequirecompaniestoreviewtheirestimatesaffectingdepreciationexpenseannuallyIFRSrequirescompaniestoreviewtheseestimatesannuallyComponentMethodUnder.GAAPthecomponentmethodisallowedbutisseldomusedIFRSrequirescompaniestousecomponentmethodofdepreciationImpairmentofAssetsReversalisnotpermittedunder.GAAPReversalispermittedunderIFRSBothIFRSand.GAAPrequirecompaniestowritedownthecarryingamountofimpairedassets.ImpairmentTestUnder.GAAPanasset’scarryingamountisconsiderednotrecoverablewhenitexceedstheundiscountedexpectedfuturecashflows.Theimpairmentlossisthenmeasuredasthedifferencebetweentheasset’sfairvalueandcarryingamount.IFRSdefinestherecoverableamountasthehigherofitsfairvaluelesscoststosellandits‘valueinuse’where‘valueinuse’isadiscountedmeasureofexpectedfuturecashflowsReversalofImpairmentUnder.GAAP,onceanimpairmentlosshasbeenrecognizedforassetsheldforuse,itcannotbereversed.Forassetsheldforsale,ifthefairvalueincreasesafteranimpairmentloss,thelosscanbereversed.IFRSpermitimpairmentlossestobereversediftherecoverableamountofanassetincreasesregardlessofwhethertheassetisclassifiedasheldforuseorheldforsale.IFRSdonotpermittherevaluationtotherecoverableamountiftherecoverableamountexceedsthepreviouscarryingamountDisclosures(TangibleAssetClass)Under.GAAPtherequirementsarelessexhaustive.Disclosureincludes:Period’sdepreciationexpenseBalanceofmajorclassesofdepreciableassetsAccumulateddepreciationbymajorclassorintotalGeneraldescriptionofthedepreciationmethodUnderIFRSforeachclassofPP&EacompanyshoulddiscloseMeasurementbaseDepreciationmethodUsefullifeusedGrosscarryingamountAccumulateddepreciationatthebeginningofeachperiodRestrictionortitleandpledgeContractualagreementtoacquirePP&EIfrevaluationmodelusedthen:DateofrevaluationHowfairvaluewasobtainedCarryingamountunderthecostmodelRevaluationsurplus(ifany)Disclosures(Intangibleassetclass)Under.GAAPcompaniesarerequiredtodisclose:GrosscarryingamountAccumulatedamortizationbyassetclassAggregateamortizationexpensefortheperiodEstimatedamortizedexpenseforthenext5yearsUnderIFRSacompanymustdiscloseAssetclassishavingfiniteorinfinitelifeIffinitethecompanymustdiscloseusefullifeTheamortizationmethodusedThegrosscarryingvalueAccumulatedAmortizationatbeginningofeachperiodReconciliationofcarryingamountatthebeginningandendofeachperiodForindefinitelifeCarryingamount&whyitisconsideredwithindefinitelifeRevaluationmodeldisclosuresaresameifusedDisclosures(Impairmentlosses)Under.GAAPDescriptionoftheimpairedassetWhyimpairmentwasdoneMethodofdeterminingfairvalueAmountofimpairmentlossWherethelossisrecognizedonfinancialstatementsUnderIFRSTheamountofimpairmentlossReversalofimpairmentlossesWheretheyarerecognizedonfinancialstatementsMainclassesaffectedbyimpairmentlossandreversalMaineventsandcircumstancesleadingtoimpairmentlossandreversal.READING38:INCOMETAXES.GAAPIFRSSimilaritiesDeferredTaxAssetsandLiabilitiesUnder.GAAPdeferredtaxassetsandliabilitiesareclassifiedascurrentandnoncurrentbasedontheclassificationofassetorliabilityUnderIFRSdeferredtaxassetsandliabilitiesarealwaysclassifiedasnoncurrent.EconomicBenefitdoesnotmatchUnder.GAAPavaluationallowanceisestablishedifdeferredtaxassetorliabilityresultedinpastbutthecriteriaofeconomicbenefitdoesnotmatchwithcurrentbalancesheetUnderIFRSanexistingdeferredtaxassetofliabilityrelatedtotheitemwillbereversedifitresultedinpastbutthecriteriaofeconomicbenefitdoesnotmatchwithcurrentbalancesheetPAGE12TaxBaseofaLiabilityUnder.GAAPthetaxlegislationwithinthejurisdictionwilldeterminetheamountrecognizedontheincomestatementandwhethertheliability(revenuereceivedinadvance)willhaveataxbasegreaterthanzero.Thiswilldependonhowtaxlegislationrecognizesrevenuereceivedinadvance.IFRSoffersspecificguidelineswithregardtorevenuereceivedinadvance.Itstatesthetaxbaseisthecarryingamountlessanyamountoftherevenuethatwillnotbetaxedatafuturedate.TheanalysisofthetaxbaseresultsinsimilaroutcomeDifferencesbetweenTaxable&AccountingProfitUnder.GAAPadeferredtaxassetorliabilityisnotrecognizedforunamortizablegoodwill.ThereisnoexemptionfortheinitialrecognitionofassetorliabilityintransactionthatIsnotabusinesscombinationAffectnoraccountingortaxableprofitUnderIFRS,adeferredtaxaccountisnotrecognizedforgoodwillarisinginabusinesscombination.Sincegoodwillisaresidual,therecognitionofadeferredtaxliabilitywouldincreasethecarryingamountofgoodwill.ThereisanexemptionforinitialrecognitionofassetorliabilityintransactionsstatedbeforeIFRSand.GAAPbothprescribebalancesheetliabilitymethodforrecognitionofdeferredtaxDeductableTemporaryDifferenceUnderIFRSand.GAAP,anydeferredtaxassetsthatarisefrominvestmentsinsubsidiaries,branches,associates,andinterestsinjointventuresarerecognizedasadeferredtaxasset.TheybothallowthecreationofdeferredtaxassetinthecaseoftaxlossesandcreditsRecognitionofTaxChargeddirectorytoEquityRevaluationsarenotpermissibleunder.GAAPChargedDirectlytoEquityIngeneral,IFRSand.GAAPrequirethattherecognitionofdeferredtaxliabilitiesandcurrentincometaxshouldbetreatedsimilarlytotheassetorliabilitythatgaverisetothedeferredtaxliabilityorincometaxbasedonaccountingtreatment.READING39:NON-CURRENTLIABILITES.GAAPIFRSSimilaritiesBondIssuanceUnder.GAAPtheissuancecostisrecognizedasanassetandamortizedonstraightlinebasisoverthelifeofthebondUnderIFRSallissuancecostsareincludedinthemeasurementofliability,bondspayable,andnetted.Underboth.GAAPandIFRStheissuancecostsareincludedincashoutflowfromfinancingactivitiesandusuallynettedagainstbondsproceedsAccountingMethodforbondissuanceUnder.GAAPtheeffectiveinterestmethodispreferredUnderIFRStheeffectiveinterestmethodisrequiredReportingofInterestPaymentsItisreportedasoperatingcashoutflowCouldbeeitherreportasoperatingorfinancingcashoutflowReportingOptionIFRSand.GAAPrequirefairvaluedisclosuresinthefinancialstatementsunlessthecarryingamountapproximatesfairvalueorthefairvaluecannotbereliablymeasured.De-recognitionofDebtThedebtissuancecostsareaccountedforseparatelyfrombondspayable.Anyunamortizeddebtissuancecostsmustbewrittenoffatthetimeofredemptionandincludedinthegainorlossondebtextinguishment.TheissuancecostareapartoftheliabilitythuspartofthecarryingamountLeaseterminologyCapitalleaseistheterminologyFinanceleaseistheterminologyClassificationasFinance/CapitalLeaseThoughtheprincipleissamebutprovisionsaremorespecificOwnershipoftheleasetobetransferredattheendoftheleaseLeasecontainsanoptiontopurchasetheassetatcheaply,bargainpriceoptionLeaseterm75percentormoreoftheusefullifeoftheassetPresentvalueofleasepaymentstobealeast90percentofthefairvalueLesseerequiresoneofthesecriteriatoconsiderleaseascapitalwhereasLessorrequiresatleastoneofthecriteriaplusmeetingthereasonableassuranceforgettingthecashandperformedsubstantiallyundertheleasetorecordascapitallease.OwnershipistransferredtothelesseebytheendoftheleasetermOptiontopurchasetheassetatpricesufficientlylessthanthefairpriceLeasetermextendedtomajorpartofeconomiclifeoftheasset,eventhetitleisnottransferredAtinceptionthepresentvalueofminimumleasepaymentsbeequaltothefairvalueoftheassetAssetcanonlybeusedbylesseeunlessmajormodificationsaremadeGenerallyisalltherisksandrewardsassociatedwiththeassetaretransferred,boththelesseeandthelessorrecordfinan