International Financial Reporting Standards - …

1 FinancialReporting StandardsAn IAS Plus guidePresentation and disclosure checklist 200720880 bd ifrs Presentation 31/10/07 12:21 pm Page aContactsGlobal ifrs leadership teamIFRS global officeGlobal ifrs leaderKen centres of PacificHong KongMelbourneStephen TaylorBruce Peter LarsenGraeme BerryVeronica PooleLaurence s provides comprehensive information about International Financial Reporting in general and IASB activities in particular. Unique features include: daily news about Financial Reporting globally. summaries of all Standards , Interpretations and proposals.

2 Many ifrs -related publications available for download. model ifrs Financial statements and checklists. an electronic library of several hundred ifrs resources. all Deloitte Touche Tohmatsu comment letters to the IASB. links to several hundred International accounting websites. e-learning modules for each IAS and ifrs at no charge. complete history of adoption of IFRSs in Europe and information about adoptions of IFRSs elsewhere around the world. updates on developments in national accounting bd ifrs Presentation 31/10/07 12:21 pm Page bPresentation and disclosure checklist 200720880 bd ifrs Presentation 31/10/07 12:21 pm Page cAbbreviationsAGApplication guidance issued as an integral part of IAS 32 Financial Instruments: PresentationCGU(s)Cash-generating unit(s)EPSE arnings per ShareIAS(s) International Accounting Standard(s)IASBI nternational Accounting Standards BoardIEIllustrative Examples accompanying IAS 32 Financial Instruments.

3 PresentationIFRICI nternational Financial Reporting Interpretations Committee of the IASB, and title of interpretations issued by that committeeIFRS(s) International Financial Reporting Standard(s)SICS tanding Interpretations Committee of the IASB s predecessor body, the International Accounting Standards Committee, andtitle of interpretations issued by that committee20880 bd ifrs Presentation 31/10/07 12:21 pm Page dIFRS presentation and disclosure checklist 2007 International Financial Reporting StandardsPresentation and disclosure checklist 2007 This checklist is intended to aid the user in determining if the presentation and disclosure requirements of International Financial ReportingStandards (IFRSs) have been met.

4 It does not address the requirements of IFRSs as regards recognition and checklist covers the presentation and disclosure requirements of IFRSs and Interpretations in issue at 31 August 2007 which are listed onthe next page. Note that: this checklist is suitable for use in assessing presentation and disclosure in Financial statements prepared in accordance with IFRSs forperiods beginning on or after 1 January 2007. It is not generally appropriate for use for earlier accounting periods (please referto for earlier versions of this checklist); not all IFRSs nor all Interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC) or its predecessor, theStanding Interpretations Committee (SIC), include presentation or disclosure requirements.

5 Therefore, the listing on the following pages isnot a complete listing of Standards and Interpretations in issue at 31 August 2007; certain Standards and Interpretations in issue at 31 August 2007 are not effective for periods beginning on 1 January 2007. These areindicated in the checklist by grey shaded text. Earlier application of these requirements is generally permitted. Where those Standards andInterpretations are applied for periods beginning before their effective dates, that fact is generally required to be disclosed (see specificStandards/Interpretations for details); and as part of their ongoing work programmes, the IASB and the IFRIC continue to issue Standards and Interpretations.

6 Where thoseStandards and Interpretations are released prior to the issue of the entity s Financial statements, and they have not been adopted becausethey are not yet effective, IAS 8 Accounting Policies, Changes in Accounting Estimates and Errorsrequires entities to disclose that factand, if estimable, the expected impact in the period of initial application (see detailed requirements in the IAS 8 section of this checklist).20880 bd ifrs Presentation 31/10/07 12:21 pm Page e20880 bd ifrs Presentation 31/10/07 12:21 pm Page fIFRS presentation and disclosure checklist 2007 ContentsStandardsPageIFRS 1 First-time Adoption of International Financial Reporting Standards1 ifrs 2 Share-based Payment4 ifrs 3 Business Combinations7 ifrs 4 Insurance Contracts11 ifrs 5 Non-current Assets Held for Sale and Discontinued Operations14 ifrs 6 Exploration for and Evaluation of Mineral Resources18 ifrs 7 Financial Instruments.

7 Disclosures20 ifrs 8 Operating Segments31 IAS 1 Presentation of Financial Statements39 IAS 2 Inventories55 IAS 7 Cash Flow Statements56 IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors61 IAS 10 Events After the Balance Sheet Date64 IAS 11 Construction Contracts66 IAS 12 Income Taxes67 IAS 14 Segment Reporting71 IAS 16 Property, Plant and Equipment78 IAS 17 Leases80 IAS 18 Revenue83 IAS 19 Employee Benefits84 IAS 20 Accounting for Government Grants and Disclosure of Government Assistance89 IAS 21 The Effects of Changes in Foreign Exchange Rates91 IAS 23 Borrowing Costs93 IAS 24 Related Party Disclosures94 IAS 26 Accounting and Reporting by Retirement Benefit Plans98 IAS 27 Consolidated and Separate Financial Statements 102 IAS 28 Investments in Associates104 IAS 29 Financial Reporting in Hyperinflationary Economies105 IAS 31 Interests in Joint Ventures106 IAS 32 Financial Instruments.

8 Presentation107 IAS 33 Earnings Per Share112 IAS 34 Interim Financial Reporting115 IAS 36 Impairment of Assets122 IAS 37 Provisions, Contingent Liabilities and Contingent Assets127 IAS 38 Intangible Assets129 IAS 39 Financial Instruments: Recognition and Measurement132 IAS 40 Investment Property133 IAS 41 Agriculture 13620880 bd ifrs Presentation 31/10/07 12:21 pm Page gIFRS presentation and disclosure checklist 2007 InterpretationsPageIFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities139 IFRIC 2 Members Shares in Co-operative Entities and Similar Instruments 140 IFRIC 4 Determining whether an Arrangement contains a Lease141 IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds142 IFRIC 11 ifrs 2.

9 Group and Treasury Share Transactions143 IFRIC 12 Service Concession Arrangements144 IFRIC 13 Customer Loyalty Programmes145 IFRIC 14 IAS 19 The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction146 SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease147 SIC 29 Service Concession Arrangements: Disclosures14820880 bd ifrs Presentation 31/10/07 12:21 pm Page hIFRS presentation and disclosure checklist 20071 ReferencePresentation/disclosure requirementThis section of the checklist addresses ifrs 1, which applies when an entity adopts IFRSs for the first time by anexplicit and unreserved statement of compliance with IFRSs.

10 ifrs 1 provides guidance regarding the transition fromprevious Generally Accepted Accounting Principles (GAAP) to IFRSs. ifrs 1 requires the entity to prepare anopening ifrs balance sheet, which complies with all IFRSs (including all IASs, IFRSs, SIC and IFRIC Interpretations)effective at the Reporting date for its first ifrs Financial statements. ifrs 1 requires retrospective application ofthose Standards in most areas, with limited the purposes of ifrs 1, the date of transition to IFRSs is the beginning of the earliest period for which theentity presents full comparative information under IFRSs in its first ifrs Financial statements.