IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

463

Index

direct vs. indirect method, 39– 4 1,43-45 disclosures, 42-43 extracts from published financial statements, 46-49 financing activities, 38-3 9 foreign currency cash flows, 42 futures, forward contracts, investing activities, 38 noncash transactions, 39 operating activities, 38 presentation of, 37 reconciliation of cash and cash equivalents, 42 scope of standard, 35 Cash-generating units, 308-310 defined, 304 recoverable amount of, 304- 306 Cash inflows, 38 Cash outflows, 38, 39 Cash-settled sha re-base d tran saction s, 384-385 Changes in accounting estimat es, 51, 55-57 Changes in accounting polici es, 53-55 applying, 53-54 disclosure of, 55 for exploration and evaluation of mineral resources, 44 1 factors governing, 53 for insurance contracts, 422 Changes in equity, sta tement of, 24 Decommissioning, Restoration and Similar Liabilities (IFRIC 1),6 for lAS 37, 324 for property, plant, and equipment, 11 2-11 3 Changes of amounts, in interim financial reports, 301 Chile, IFRS adoption by, 1 Claims: in construction contracts, 68, 69 defined, 67 Close family members, 177-179 Closing rate, 159 Collateral, on balance sheet, 451 Combining construction contracts, 68 options, and swaps, 42 gross basis vs. net basis reporting, 4 1-42 Chan ges in estimates, for construction contract s, 70 Changes ill Existing

contract costs, 69 contract revenue, 68-69 cost-plus contract, 70 definitions, 67 disclosures, 72- 75 fixed cost contract, 70 IFRIC 12,72 percentage of completion method, 70-7 1 recognition of contract revenue and expenses, 69-70 Constructive obligations, 223, 318 Contingent (possible) assets, 324,325 defined, 318 disclosures of, 325 Contingent liabilities, 323-324 defined, 317-3 18 disclosure of, 323-324 Contingently issuable ordinary shares, 290, 293 Contract costs, for construction contracts, 69 Contract revenu e, for construction contracts, 68-69 Contract work in progress, 71 Control, 193, 194, 197,402 defined, 177, 193, 215, 402 of intangible assets, 331 joint, 2 15 loss of, 198 Convertible bonds, 269-270 Core Sta nda r ds Work Program, 3 Corporate assets, imp airment of, 310-311 Corridor approach (actua rial gainsllosses), 144, 146 Cost(s): acquisition-related, 404, 410 amortized, 254-257 of asset, measurement of, 110- I II of borrowing, 4, 170-1 74 of conversion of inventory , 28 defined, 108, 33 1 of intangible assets, 332 of inventories, 28-29 measurement at, 252-254 measurement of, 29 of purchase, 28 for Web site development, 4, 336 Costa Rica, IFRS adoption by, 1 Cost formulas, for inventories, 29-31 Cost model (assets), 111,347– 350

Comparability of financial statements, 10 Comparative information, 16 Compensation: defined, 177 in related-party transactions, 180, 181 Complianc e with IFRS, 14-15 Compound financial instruments: for first-time IFRS adopters, 369 with multiple embedded derivatives on, 45 I split accounting for, 226-228 Comprehensive income, statement of, 24 Conc eptual fr amework, see Fram ework f or the Preparation and Presentation of Finan cial Statements Concessions, in insurance contracts, 422 Consistency: of accounting policies, 52 of presentation, 10, 16 Consolidated and Separate Financial Statements (lAS 27), 4,193-199 accounting procedures, 194– 195 amendments to, 197-198 consolidated statements, 193- 194 definitions, 193 disclosures, 195- 197 extracts from published financial statements, 198-1 99 presentation of financial statements, 193 proposed amendment to, 7 scope of standard, 193 Consolidated financial sta tements : accounting procedures for, 194-195 defined, 193 derecognition requirements for, 247 disclosures for, 195-1 97 temporary differences from, 80-8 1 Consolidation-s-Special-Purpose Entitie s (SIC 12),4, 197 Con straints, in financial statement preparation, 10 Construction Contracts (l AS 11),3,67-75 combining and segmenting contracts, 67-68