IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

466

Index

for exploration and evaluation, 440 for inventory, 32 for pensions, 141 prepaid, 223 recognition of, 69-70, 335-336 segment, 98 Explanatory notes, in interim financial reporting, 299-300 Exploration and evaluation assets, 440 Exploration and evaluation expenditures, 440 Exploration for and Evaluation ofMineral Resources (IFRS 6), 5,440-445 definitions, 440 disclosure, 443 extracts from published financial statements, 443--445 impairment, 442-443 measurement, 442 recognition, 441 scope of standard, 440 Exposure Drafts, 6, 7 Extinguishment gain s/losses, 250 F Fair presentation, 14 Fair va lue: for agriculture, 354 as deemed cost, 368 defined, 27, 108, 130, 151, 331, 353, 364 of defined benefit plans, 189 of defined contribution plans, 187 disclosure of, 452-453 of intangible assets, 332 of investment property, 347- 350 measurement at, 257-261 measurement of, 250-251 for pension plan assets, 141 reliability for biological assets, 355 theoretical ex-rights, 289 through profit or loss, 449-250 Fair value adjustments, for foreign operations, 163 Fair value hedge, 271-274, 278 Fair value less costs to sell, 304, 306 FASB, see Financial Accounting Standards Board FIFO (first-in, first-out) method, 29-30 Fiji, IFRS adoption by, 1 Fin ance leases: classification as, 118

defined, 117 disclosures for, 120, 122 leasebacks, 123 in lessee' s financial statements, 119-120 in lessor' s financial statements, 122 Financial Accounting Standards Board (FASB), 2, 11 Financial assets: categories of, 238-241 defined,222 derecognition of, 243-249 fair value of, 257-261 impairment of, 261-264 initial measurement of, 250- 252 offsetting financial liabilities and, 231-232 pass-through arrangements, 246-247 reclassification of, 241-242 recognition of, 242-243 for service concessions, 72 subsequent measurement of, 252-257 transfers of, 244-246, 348-349 Financial assets at fair value Financial institutions, cash Ilows reporting basis for, 41 Financial instruments: defined, 221, 236 disclosures, 448-459 presentation, 221-233 recognition and measurement, 236-282 Financial Instruments: Disclosures (lFRS 7), 5, 448– 459 extracts from published financial statements, 455-459 risks arising from financial instruments, 453-466 scope of standard, 448--449 significance of financial instruments for financial position and performance, 449-45 3 Financial In struments: Presentation (lAS 32), 4, 221– 233 definitions, 221-224 extracts from published financial statements, 232-233 and IFRS 7, 448 presentation of interest, dividends, losses, and gains, 231-232 through profit or loss (FVTPL), 239, 257-259

presentation of liabilities and equity, 224-230 scope of standard, 221 Financial Instruments: Recognition and Measurement (lAS 39), 4, 236-282 amendments to, 278 categories of financial assets and liabilities, 238-242 derecognition, 243-250 derivatives, 266-270 excerpts from financial statements, 279-282 hedge accounting, 270-278 and IFRS 7, 448 measurement, 250-265 proposed amendment to, 7 recognition, 242-243 scope of standard, 236-238 Financial liabilities: categories of, 24 1 defined, 222 derecognition of, 249-250 fair value of, 257-261 initial measurement of, 250– 252 offsetting financial assets and, 231-232 reclassificatio n of, 241-242 recognition of, 242-243 subsequent measurement of, 252-257 Financial liabilities at fair value through profit or loss (FVTPL), 241, 257 Financial liabilities measured at amortized cost, 241 Financial position, statement of, 24 Financial Reporting in Hyperinflationary Economies (lAS 29),4, 210-213 ceasing to be hyperinflationary, 210 current cost financial

statements, 212 definitions, 210 disclosure, 213

functional currency and hyperinflation, 210-211 IFRIC 7, Applying the

Restatement Approach under lAS 29, Financial Reporting in Hyperinflationary Economies, 4 restatement of balance sheet, 211 restatement of income statement, 211-2 12 scope of standard, 210 taxation, 212-2 13