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FINANCIAL REPORTING SEM 2 - Coggle Diagram

- - - - initial cost = all costs needed to bring the asset into working condition
  - - - dep every year
    - - fair value
        
        dep over remaining useful life
        
        dep till revalue
        
        NBV at revalue
        
        revalue gain
        
        dep till Y/E
        
        NBV at Y/E
    - - straight line
        
        formula = cost/useful life
        
        % = % of cost each year
      - double declining
        
        % = % of NBV each year
- - - - internally generated
        
        cannot be measured reliably
      - purchased
        
        initial cost
    - - definite life
        
        ammortize
      - indefinite life
        
        impairment
  - - - annual expense
        
        'research cost'
    - - PIRATE criteria
        
        met
        
        asset
        
        not met
- - - - types
        
        current
        
        eg. payables
        
        non-current
        
        eg. bank loan
      - 'obligation'
        
        constructive
        
        entity's actions
        
        established pattern of past practice
        
        create valid expectation
        
        legal
        
        law/contract
      - measurement
        
        initial
        
        SOFP
        
        subsequent
        
        review & revise every year
- - - - CA/CL (times)
    - - CA - inventory/CL (times)
  - - - total long term debt/total cap employed*100 (%)
  - - - GP/rev*100 (%)
    - - OP/rev*100 (%)
    - - NP/rev*100 (%)
    - - rev/total asset (times)
    - - OP/CE*100 (%)
        
        CE = equity cap + debt cap
        equity cap = share cap + retained
        earnings + other reserves