ASSET

LIABILITY

EQUITY

INCOME

EXPENSES

cima code of ethics

INTEGRITY

Objectivity

PROFESSIONAL
COMPETENCE
AND DUE CARE

Confidentiality

Professional
Behaviour

Purpose of IFRS framework

IFRS ADVISORY COUNCIL

IFRIC
INTERNATIONAL FINANCIAL REPORTING INTERPRETATIONS COMMITTEE

Complete set of financial statements include

PURPOSE OF FINANCIAL STATEMENTS

A COMPLETE SET OF FINANCIAL STATEMENTS INCLUDES

ELEMENTS OF FINANCIAL STATEMENTS

INTANGIBL ASSET

IMPAIRMENT

RECOVERABLE AMOUNT

CARRYING AMOUNT OF ASSET

IMPAIRMENT LOSS

SUM OF THE DIGITS

ACTURARIAL METHOD FOR FINANCE LEASE

4 Qualities
IASB. FRAMEWORK

RELEVANCE

(one of IASB Framework Qualities)

RELIABILITY

( one of the IASB Framework qualitative principles)

COMPARABILITY

( one of the IASB Framework Qualitative Principles)

UNDERSTANDABILITY

( one of the IASB Framework's QualitativePrinciples)

UNDERSTANDABILITY

( one of the IASB Framework's QualitativePrinciples)

3 THINGS TAX EXPENSE CONSISTS OFl

CONSTRUCTIONS WORKINGS

Constructions Working
Amount due to/From Customer

3 tax bases

Adam Smith
Taxes Should be:

3 Major Principles

Types of Taxes:
UNIT

Types of Taxes:
Ad Voloren

Multi Stage Taxes

VAT OUTPUT

VAT INPUT

exempt vat

ZERO RATED VAT

trading loss solutions

LEASE - JOURNAL ENTRIES (4)

SHARE ISSUE COSTS

The objective of general purpose financial reporting

2 categories of qualitivative infomration
The qualitative characteristics of useful financial information identify the types of information that are likely to be
most useful to existing and potential investors, lenders and other creditors for making decisions about the
reporting entity on the basis of information in its financial report (financial information).

PROFIT

TO RECOGNIZE AN ELEMENTS IT MUST (3 THINGS)

Fundamental QUALITATIVE characteristics (2)

ENHANCING QUALITATIVE Characteristics (4)

CAPITAL
2 TYPES