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Conceptual Framework (Q.41 Klancet (b) (在2016.7.1 K买了debt…
Conceptual Framework
Q.41 Klancet (b)
在2016.7.1 K买了debt instrument。Nominal value 5m。交易was @ FV。
- initially recognised @ FV 5m
- 确认asset角度：概念框架，meet definition，提供relevant，faithful info就确认asset。
看起来这个debt instrument满足这些，因为使用者对未来的CF感兴趣，而这个financial instrument会给contractual right to future CF（相关性）。且cost可以measure reliably（真实性）。所以一致
K的商业形式是持有金融资产来收取contractual CF，但如果卖掉的return更高的话，则会卖掉这个金融资产
- debt instrument满足了CF test但是没满足business model test，所以measure @ FVTOCI
- 概念框架称SPL是有关实体业绩的一手信息，SPL应使投资者明白这期间实体的return，以便来评估CF和stewardship of the entity’s resources
- measure角度：Board注意到如果将一些income和expense记录到OCI可以提供relevant和faithfully info，那就把他们记录到OCI
- 没有打算在交易，所以FV的损益与评估K的效益无关。将损益记录在了OCI中确保了SPL best represent实体在这段期间的economic return。与概念框架一致
每年末interest is received @ a rate 4%。Effective rate of interest 为10%
- interest income用effective利率算510%；receipts为5m4%
2017.6.30，debt instrument的FV为4.5m。
- gain/loss on revaluation记到OCI（maybe classified to P/L in the future）
- 概念框架中，如果将记录在OCI的income和expense转移到P/L会产生relevant和faithful info的话，那就转移；IFRS9 说，当asset derecognise时，损益要reclassify到P/L。所以一致
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Q.44 Janne (b)
- 有关equity-settled share-based pmt中对expense的确认与概念框架中的expense确认不同
- expense 定义。在cash-settled share-based pmt中，公司有义务付 cash，所以满足定义
- 然而equity-settle中，因为公司付equity，没有明显的A减少或L增长。实际上对equity毫无影响
（因为一方面expense减少了RE，另一方面交易提高了OCE）
虽然IFRS 2 要求为equity-settled scheme确认expense，可以 argue与概念框架不符
- 但是Board认为employee service是一种asset，公司在receive的同时consume了它，
所以根据expense的定义，是有asset减少的
- non-refundable deposits中确认了Liability而不是income，这与概念框架中liability的确认不同
- liability定义。因为时non-refundable的，所以没有obligation去付cash。
- 有些人认为应该马上确认为income。然而，seller有obligation给客人相关的产品和服务，
这些是economic resource因为它们可以produce economic benefits，所以这样看起来是满足liability定义的
- 然而也可以argue，transfer产品和服务应该recognised @ cost，而不是向客人收取的金额
- internally generated brands满足了概念框架中asset的定义，所以IAS 38禁止其确认与概念框架冲突
- asset定义。无论brand时internally generated还是买的，都满足asset定义。
因为被公司control有potential带来economic benefits
- 可以提供useful info才确认。确认brand会提供relevant info，
不确认的话会低估报告实体的value
- 然而其cost却无法measured reliabily因为花费无法从每日运营花费中分出来，
这种uncertainty可能不会faithfully represent
- 所以IAS 38 阻止其确认是与概念框架一致的
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Definition
prudence
- 做estimation时的degree of caution
- NOT overstate A & income
- NOT understate L & expenses
如果不这样做的后果
- evaluation of the entity’s performance
- not neutral
- faithful representation
Element
expense
- a decrease in economic benefits
- that result in decrease in equity
other than those relating to distributions to equity participants
- in the form of outflows, increase in L, decrease in A
liability
- a present obligation
- from a past event
- to transfer economic resource
asset
- A present economic resource controlled by an entity
- as a result of past event
- future economic benefits are expected to flow
equity
- residual interest
- in net asset
income
- an increase in economic benefits
- that result in increases in equity
other than those relating to distributions to equity participants
- in the form of inflows, increase in A, decrease in L
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measurement basis
- historical cost
- current value
选择时应考虑
选择可以提供useful info的
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relevant
考虑A&L的charaterisitic
- CF
- CF's sensitivity to market factors
eg.
- 如果一个asset市值波动且短期内会被交易，折旧花费不太会提供有关此产品的relevant info
- 如果A&L被持有来collect contractual CF，那么报告A&L的FV也不会提供有关此产品的relevant info
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Statement
SPL is：
- primary source of info about an entity's performance
- enable investors to understand entity's return in the period
以便投资者评估
- future CF
- stewardship of the entity's resources