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4 Hours, 25 Aug 2024, 10:00 AM-2:00 PM
IAS 19 - Employee Benefits | IAS 21 - The Effects of Changes in Foreign Exchange rates | IAS 10 - Events After the Reporting Period

IAS 19 - Employee Benefits

Objective: The objective of IAS 19 is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to recognize:

1. A liability when an employee has provided service in exchange for employee benefits to be paid in the future.

2. An expense when the entity consumes the economic benefit arising from service provided by an employee in exchange for employee benefits.

IAS 21 - The Effects of Changes in Foreign Exchange Rates

Objective: The objective of IAS 21 is to prescribe how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency. The principal issues are:

1. Which exchange rate(s) to use.

2. How to report the effects of changes in exchange rates in the financial statements.

IAS 10 - Events After the Reporting Period

Objective: The objective of IAS 10 is to prescribe:

1. When an entity should adjust its financial statements for events after the reporting period.

2. The disclosures that an entity should give about the date when the financial statements were authorized for issue and about events after the reporting period

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IAS 19 - Employee Benefits

Objective: The objective of IAS 19 is to prescribe the accounting and disclosure for employee benefits. The Standard requires an entity to recognize:

1. A liability when an employee has provided service in exchange for employee benefits to be paid in the future.

2. An expense when the entity consumes the economic benefit arising from service provided by an employee in exchange for employee benefits.

IAS 21 - The Effects of Changes in Foreign Exchange Rates

Objective: The objective of IAS 21 is to prescribe how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency. The principal issues are:

1. Which exchange rate(s) to use.

2. How to report the effects of changes in exchange rates in the financial statements.

IAS 10 - Events After the Reporting Period

Objective: The objective of IAS 10 is to prescribe:

1. When an entity should adjust its financial statements for events after the reporting period.

2. The disclosures that an entity should give about the date when the financial statements were authorized for issue and about events after the reporting period