HD EDU
HD EDU
ACCT 90002
常⻅ accounting standards
TUTOR: Quincy
HD EDU
AASB 137 Provisions, Contingent Liabilities and Contingent Assets
内容: provision, contingent liability 和 contingent asset 的处理⽅式相关内容: T/R & T/P 的
recognition
Provision
Recognition criteria
1. Present obligation
a) Legal
b) Constructive (formal written plan & create valid expectation)
2. Probable future economic benefit outflows
3. Measured reliably
a) Single event: best estimate
b) Large population: expected value (estimation of probability & amount)
FEB Asset Liability
Virtually certain T/R T/P
Probable Disclose (Contingent asset) Provision (对应科⽬⼀般是 expense)
Possible No action Disclose (Contingent liability)
Remote No action No action
*虽然⾦额可能⼀样, 但是不能直接在同⼀张报表上直接抵掉

常⻅问题:
(1) 对于 T/R ⽽⾔, 不是 virtually certain 但是还是记成了 T/R
w 处理⽅式: 计提 Credit loss expense
w Dr: Credit loss expense, Cr: Reserve for losses on credit sales

HD EDU

Stage Impairment Interest revenue
One:
Credit risk has not increased
significantly since initial
recognition
Recognise 12 month expected credit losses (ECL)
(i.e. portion of ‘lifetime expected credit losses’ resulting from
default events that are possible within 12 months of reporting
date)
Calculated based on the gross amount of the asset
(i.e. before credit losses have been taken into
account)
Two:
Credit risk has increased
significantly since initial
recognition
Recognise lifetime expected credit losses (ECL)
(i.e. expected credit losses resulting from all possible default
events over the life of the instrument)
Calculated based on the gross amount of the asset
(i.e. before credit losses have been taken into
account)
Three:
There is objective evidence of
impairment as at the reporting
date (using the criteria currently
included in IAS 39)
Recognise lifetime expected credit losses (ECL)
(i.e. expected credit losses resulting from all possible default
events over the life of the instrument)
Based on the net amount of the asset (i.e. after credit
losses have been taken into account)
HD EDU
(2) 其 future economic benefit outflow/inflow 的 uncertainty 和对应计提的科⽬不⼀致
w 如果即使改完了还应该!现在报表上→Reverse & Restate
w 如果改完了变成了 disclose/no action→Reverse
AASB 138 Intangible asset
General concept

Research
Initial investigation of technical knowledge
Chance of success→Low
全部费⽤化
Development
Application of existing knowledge
Chance of success→High
资本化的条件: PIRATE (海盗条件)
PIRATE
w Probable future economic benefit inflows
ü Market research, sales forecast, actual sales after year end…
w Intention to complete or sell
ü Mgt meeting record, mgt representation
w Resource to complete or sell
ü Financial: cash balance? Gearing ratio (ability to borrow)? Letter from government
(grant)?
ü Technical: R&D staff, equipment
w Ability to use/sell
ü Licence from government, Sales forecast, actual sales after year end
w Technical feasibility
ü Licence from government
ü Test result
HD EDU
w Expenditure can be measured reliably
ü Initial (DL, DM, MOH, test fee)
ü Subsequent (Useful life: finite? Indefinite?)
常⻅问题: 不满⾜条件但还是资本化了→Overstate asset, overstate expense
AASB 102 Inventory
主要 issue: Valuation
General: Lower of NRV and cost
Cost
Trading inventory: supplier quote
Manufactured inventory
DM
DL
MOH
WIP: percentage of completion
NRV: net realized value → sell price – cost of sales
Subsequent measurement
FIFO, LIFO, Weighted average
*Inventory 也可能会存在 impairment, 即需要 write-off ⽆法再进⾏售卖的存货
w ⼀般记法: DR-loss on inventory write-off, CR-inventory
AASB 2 Share-based payment
(a) Equity-settled share-based payment transactions
w The entity receives goods or services as consideration for equity instruments of the
entity (including shares or share options