484 / 488
472
Papua New Guinea, IFRS
adoption by, 1
Parent entities, 193-195
defined, 193
separate financial statements
of, 195
Participants, 187
Pass-through arrangements,
246-247
Past service cost , 137
Pension assets and liabilities,
141-142
Percentage of completion
method, for construction
contracts, 70
Performance conditions, for
share-based payments, 391
Periods:
for noncurrent assets held for
sale, 429
presented by interim financial
reports, 300
Peru, IFRS adoption by, 1
Philippines:
IFRS
adoption by,
I
national standards of, 363
Ph ysical assets, 222
Piecemeal acquisition, for
business combinations, 406-
408
Plan assets, 137
Poland, IFRS adoption by, 1
Portugal, IFRS adoption by, 1
Possible assets,
see
Contingent
as sets
Possible obligation, 323
Potential ordinary shares, 286,
289-292
Prada, Michel, 362
Prepaid expen ses, 223
Presentation:
consistency of, 10
of consolidated financial
statements, 193
of discontinued operations,
433-434
of earnings per share, 286-287,
294
fair, 14
by first-time
IFRS
adopters,
370-373
of grants related to assets, 155
of grants related to income,
155-1 56
lAS I,
Presentation of
Financia l Statements, 13-25
lAS 32,
Financial Instruments:
Presentation, 22 1- 233
Presentat ion currency:
defined, 159
Inde x
translation from functional
currency to, 161-163
translation of foreign
operations into, 163
Presentation of Financial
Stateme nts
(l AS 1), 3, 13-25
accrual basis of accounting, 16
balance sheet, 17-1 8
capital disclosures amendment
(effective 2007), 21-24
cash flow statement, 20
comparative information, 16
compliance with
IFRS,
14-15
components of financial
statements, 14
consistency of presentation, 16
definitions, 13-14
fair presentation, 14
going concern, 15-16
identification of the financial
statements, 16
income statement, 18-19
materiality and aggregation, 16
notes, 20-2 1
offsetting, 16
purpose of financial statements,
14
recent amendments (effective
2009), 24-25
reporting period, 16
scope of standard, 13
statement of changes in equity,
19
Present value of a defined
ben efit obligation, 137
Previous GAAP, 364
Prior-period errors:
correction of, 57
defined,5 1
Projected unit credit met hod,
141
Property, Plant, and Equipment
(lAS 16),3,108-115
definitions, 108
depreciation, 11 1-112
derecognition, 11 2
disclosure, 113-114
extracts from published
financial statements, 11 4-115
IFRIC
interpretation
I,
112–
11 3
recognition of assets, 108-111
scope of standard, 108
Proportionate consolidation
method,217
Proposed new IFRS, 6
Prospective effectiveness
(hedges), 277
Provisions, 318-323
changes in and use of, 320
defined, 317
disclosures of, 322-323
measurement of, 319-320
recognition of, 318-319
restructuring, 321-322
Provisions, Contingent
Liabilities and Contingent
Assets
(lAS 37), 4, 317-327
changes in provisions and use
of provisions, 320
contingent (possible) assets,
324,325
contingent liabilities, 323-324
definitions, 317-3 18
disclosures of contingent
assets, 325
disclosures of contingent
liabilities, 323-324
disclosures of provisions, 322–
323
extracts from published
financial statements, 326-327
future operating losses, 320
IFRIC
interpretations of, 324–
325
measurement of provisions,
319-320
onerous contracts, 320-323
possible obligation, 323
proposed amendment to, 7
provisions, 318-323
recognition of provisions, 318-
319
restructuring provisions, 321–
322
scope of standard, 317
Prudence, 10
Published price quotation, 257–
258
Purchase method, 402
Puttable instruments, 25
Q
Qatar, IFRS adoption by, 1
Qualifying assets, 170-172
R
Real Estate Sales
(Draft IFRIC
021),7
Reas sessment ofEmbedded
Derivatives
(IFRIC 9), 6, 270
Reclassifications, on balance
sheet, 350
Recognition. See also
Financial
In struments: Recognition and
Mea surement
(lAS 39)
of actuarial gains and losses,
143
of agricultural activity, 353
of borrowing costs, 172-173