IFRS PRACTICAL IMPLEMENTATION GUIDE AND WORKBOOK

470

Index

International Organization of Securities Commissions (IOSCO),3 Interpretations: IFRIC, 6 outstanding, for drafts, 7 SIC, 4 Introduction of the Euro (SIC 7),4 Inventories: defined, 27 as qualifying assets, 171 Inventories (lAS 2),3, 27-33 cost formulas, 29-3 1 cost of inventories, 28-29 definitions, 27-28 disclosure, 32 extracts from published financial statements, 32-33 measurement of inventories, 28 net realizable value, 31- 32 recognition of expense, 32 scope of standard, 27 techniques of measurement of costs, 29 Investing activities: on cash flow statement, 37, 38 defined, 35 Investments, income tax liability for, 82 In vestments in Associates (lAS 28), 4, 202-208 acquisition of associate and accounting treatment, 204– 205 definitions, 202 disclosures, 206 equity method, 203 exceptions to equity method, 204 extracts from published financial statements, 207-208 impairment losses, 205-206 investor ceases to have significant influence, 204 significant influence, 202-203 In vestment properties: defined, 345 fair value model for, 11 9 In vestment Property (lAS 40), 4, 345-351 criteria for investment property, 345- 346 definitions, 345 disclosures, 349-351 disposals, 349 extracts from published financial statements, 351 measurement, 346-349 recognition, 346

Inve stor in a joint venture: defined, 215 financial statements of, 217– 218 IOSCO (International Organization of Securities Commissions), 3 Ireland, IFRS adoption by, 1 Israel, IFRS adoption by, 1 Italy, IFRS adoption by, 1 J Jamaica, IFRS adoption by, 1 Japan, local accounting standards in, 2 Joint Arrangements (ED 9, proposed), 6 Joint control, 177, 198, 215 Jointly controlled assets, 216 Jointly controlled entities, 216- 217 Jointly Controlled Entities– Nonmonetary Contributions by Venturers (SIC 13), 4 Jointly controlled operations, 216 Joint ventures, 180, 215-219 defined, 215 of first-time IFRS adopters, 369 investors in, 215 Jordan, IFRS adoption by, 1 K Kazakhstan, IFRS adoption by, 1 Ken ya, IFRS adoption by, 1 Key management personnel, 178,180 compensation of, 181 defined, 177 Kuwait, IFRS adoption by, 1 Kyrgyzstan, IFRS adoption by, 1 L Land, leases of, 118 Latvia, IFRS adoption by, 1 Leases: defined, 117 IFRIC 4, Determining Whether an Arrangement Contains a Lease, 6 of land, 118 Leases (lAS 17),3,117-126 classification of leases, 117– 119 definitions, I 17 extracts from published financial statements, 125-1 26

leases in financial statements of lessees, 119- I22 leases in financial statements of lessors, 122-1 23 other transactions involving the legal form of a lease, 123, 124 sale and leaseback transactions, 123-1 24 scope of standard, 117 Leased assets, 222 Lebanon, IFRS adoption by, 1 Legal obligations, 318 Lessees, leases in financial statements of, 119-122 Liabilities: on balance sheet, 17 contingent, 317-318, 323-324 current tax expense as, 79 defined, 10, 317 financial, see Financial liabilities for first-time IFRS adopters, 369 IFRIC I , Changes in Existing Decommissioning, Restoration and Similar Liabilities, 6 pensions, 141- 142 presentation of, 224-230 provisions, 318-323 segment, 97, 98 Liabilities Arising from Participating in a Specific Market-Waste Electrical and Electronic Equipment (IFRIC 6),6,325 Liechtenstein, IFRS adoption by,1 Line items: for balance sheet, 17 for income statement, 18 Liquidity risk, 454 Lithuania, IFRS adoption by, 1 Loans and rece ivables (L&R), 240 amortizes cost for, 254 impaired, 262-263, 265 reversal of impairment losses, 264 Local accounting standards, 2 Losses: actuarial, 137, 143-144, 146, 369 for agricultural activity, 354– 355 extinguishment, 250 presentation of, 231-232 Loss of control, 198 L&R (loans and receivables), 240