File Applying International Financial Reporting Standards 3rd Edition Pdf
Discuss the nature of a reserve. How do reserves differ from the other main components of equity? Under international accounting standards there are 2 forms of equity: - contributed equity: inflows from equity contributors - reserves. Reserves arise as a result of increases in equity other than from contributions from equity participants. They may arise from various actions: - earnings of profits [retained earnings] - increases in the fair value of assets [asset revaluation surplus].
Applying International Financial Reporting Standards 3rd edition has beenthoroughly updated to reflect the numerous changes with the.
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