The 2013 XYZ Model Financial Accounts Workbook provides practical guidance in applying the requirements of Australian Accounting Standards. This Workbook can be used in conjunction with the XYZ Model Financial Accounts 2013 product suite as a practical reference guide in understanding how to apply the recognition and measurement requirements for common accounting scenarios.
The Workbook identifies key issues arising from the application of Australian Accounting Standards in a simplified and easy-to-use manner, the issues and background to specific topics, examines the requirements of the relevant accounting standards and illustrates their application using practical examples with journal entries, calculations and disclosure extracts. The requirements are often summarised in easy-to-use point form, tables, flow-charts and diagrams.
2013 XYZ MODEL FINANCIAL ACCOUNTS SUITE – AUTHORED BY MOORE STEPHENS
The XYZ Model Financial Accounts product suite continues to be the industry standard for the preparation of statutorily compliant financial reports used by thousands of accounting professionals and corporate businesses for over 29 years.
Australia’s financial reporting environment is undergoing continual and often rapid change. This increases the time-consuming and technically demanding research and analysis for preparers of financial reports, if they are to ensure issues are resolved adequately.
Be confident that you and your business have all the resources and tools needed to guide you through the preparation, presentation and generation of statutorily compliant financial reporting with the entire XYZ Model Financial Accounts product suite.
FEATURES
2013 XYZ MODEL FINANCIAL ACCOUNTS WORKBOOK - WHAT’S NEW?
- New chapter on Embedded Derivatives - sets out the implications of this complex accounting concept, with regard to the features of embedded derivatives and the requirements of Australian Accounting Standards from the perspective of an issuer.
- New chapter on Assessing Control under AASB 10 - explores the main provisions, which establishes principles for the preparation and presentation of consolidated financial statements for parent entities, with particular emphasis on the determination of “control”.
- Revised chapter on Tax-effect Accounting - discusses the key disclosures required by AASB 112, with reference to the accounting treatment for deferred tax assets and deferred tax liabilities, as well as recognition exceptions for these transactions and tax consequences of a revaluation surplus.
- Revised chapter on Compound Financial Instruments - analyses the process involved in correctly identifying and classifying a compound financial instrument, its measurement and accounting entries.
- Recent developments to:
- the AASB's financial instruments project regarding the accounting requirements of AASB 9; and
- proposed amendments to the definition of "related party" under AASB 124 in relation to managed investment schemes.
