[Concepts and Pervasive Principles]
Which qualitative characteristics are fundamental to general purpose financial information?
[Statement of Financial Position]
Liabilities that an entity expects to settle in its normal operating cycle are:
[Statement of Financial Position]
Section 4 Statement of Financial Position of the IFRS for SMEs:
[Concepts and Pervasive Principles]
One of the criteria that must be satisfied for a liability to be recognised in an entity’s financial statements is that it must be probable that future economic benefits will flow from the entity. Which of the following statements is true?
[Concepts and Pervasive Principles]
Which of the descriptions below best describes the qualitative characteristic ‘reliability’?
[Statement of Financial Position]
Assets to be sold, consumed or realised as part of the entity’s normal operating cycle are:
[Financial Statement Presentation]
[Statement of Financial Position]
In accordance with the IFRS for SMEs, in presenting a statement of financial position, an entity:
[Financial Statement Presentation]
If the changes to the equity of an entity during the periods for which financial statements are presented arise only from profit or loss, payment of dividends, corrections of prior period errors, and changes in accounting policy:
[Small and Medium-sized Entities]
In which of the following situations can an entity that does not have public accountability claim compliance with the IFRS for SMEs in its financial statements?
[Concepts and Pervasive Principles]
The qualitative characteristic ‘prudence’ implies that in preparing financial statements management should
[Concepts and Pervasive Principles]
Which of the following satisfies the definition of a liability?
[Concepts and Pervasive Principles]
The objective of general purpose financial statements prepared in accordance with the IFRS for SMEs is:
[Statement of Financial Position]
When there is much variability in the duration of the entity’s normal operating cycle, the operating cycle is measured at:
[Concepts and Pervasive Principles]
[Concepts and Pervasive Principles]
Recognition criteria determine when to recognise an item. Measurement is determining the monetary amounts at which to measure an item. Uncertainties about the extent of future cash flows:
[Small and Medium-sized Entities]
Which of the following entities must not describe its financial statements as being in compliance with the IFRS for SMEs even if it is required by law to prepare its financial statements in accordance with the IFRS for SMEs?
[Financial Statement Presentation]
Which of the following entities is not a going concern?
[Small and Medium-sized Entities]
In which of the following situations can an entity that does not have public accountability claim compliance with the IFRS for SMEs in its financial statements?
[Small and Medium-sized Entities]
Which of the following entities must not describe its financial statements as being in compliance with the IFRS for SMEs even if it is required by law to prepare its financial statements in accordance with the IFRS for SMEs?
[Small and Medium-sized Entities]
Which of the following entities must not describe its financial statements as being in compliance with the IFRS for SMEs even if it is required by law to prepare its financial statements in accordance with the IFRS for SMEs?
[Financial Statement Presentation]
In which of the following situations can an entity that does not have public accountability claim compliance with the IFRS for SMEs in its financial statements:
[Concepts and Pervasive Principles]
The accrual basis of accounting that underlies financial information prepared in accordance with the IFRS for SMEs:
[Concepts and Pervasive Principles]
How many measurement bases does the IFRS for SMEs specify for the measurement of assets?
[Financial Statement Presentation]
When the classification of items in its financial statements is changed, the entity: