Term
| fundamental qualitative characteristics |
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Definition
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Term
| financial information is RELEVANT if it has |
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Definition
Predictive Value Confirming Value Materiality
(Passing Confirms Money) |
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Term
| financial info has FAITHFUL REPRESENTATION if it has |
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Definition
completeness
neutrality
freedom from error |
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Term
| ENHANCING qualitative characteristics |
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Definition
comparability
verifiability
timeliness
understandability |
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Term
| Presentation order of of income and RE statement |
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Definition
INCOME from continuing operations
income from DISCONTINUED OPERARATIONS
EXTRAORDINARY items
cumulative effect of change in ACCOUNTING PRINCIPLE |
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Term
| how to deal with changes in accounting ESTIMATE |
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Definition
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Term
| how to deal with changes in accounting PRINCIPLE |
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Definition
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Term
| how to deal with changes in accounting ENTITY |
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Definition
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Term
| What is included in Comprehensive Income? |
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Definition
Pension Adjustments
Unrealized G/L
Foreign Currency Items
Effective Portion of Cash Flow Hedges
Revaluation Surplus (IFRS only) |
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Term
Quantitative Thresholds for Reportable Segments
10% Size Test
75% Reporting Sufficiency Test |
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Definition
Revenue: reported rev (internal and external) is 10% or more of combined REVENUE of all operating segments OR
absolute amount of reported p/l is 10% or more of the greater of (1) the combined reported profit of all operating segments that did not report a loss or (2) the combined reported loss of all operating segments that did report a loss
75% - see page 53 |
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Term
| First-time adoption of IFRS, how many statements of each do you need |
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Definition
Balance sheet - 3
all others - 2 |
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Term
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Definition
annual report
60 days after end of fiscal year for LARGE ACCELERATED filers
75 days for ACCELERATED filers
90 days for all others |
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Term
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Definition
must be filed QUARTERLY
40 days after end of fiscal quarter for LARGE ACCELERATED filers and ACCERATED FILERS, 45 days for all others |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| form is filed semi-annually by foreign private issuers |
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Term
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Definition
| report major corporate events |
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Term
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Definition
| filed by directors, officers, or beneficial owners |
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