KẾ TOÁN QUỐC TẾ 1

NGUYỄN ĐÌNH HOÀNG UYÊN

 CONCEPTUAL FRAMEWORK
2

IAS 1 — Presentation IFRS 13 — Fair IAS 21 — The Effects of

of Financial IAS 7 — Statement IFRS 8 — Operating
of Cash Flows Segments Value Changes in Foreign
Statements Measurement Exchange Rates
IAS 8 — Accounting Policies, IAS 8 — Accounting Policies,
Changes in Accounting IAS 10 — Events After IAS 34 — Interim
Changes in Accounting
Estimates and Errors Estimates and Errors the Reporting Period Financial Reporting

IAS 12 — Income IAS 26 — Accounting

IFRS 3 — Business IFRS 4 — Insurance
IAS 2 — Inventories Taxes and Reporting by
Combinations Contracts
Retirement Benefit
IAS 40 — Investment IAS 16 — Property, Plans
Property Plant and IAS 20 — Accounting
IFRS 10 — Consolidated for Government
IFRS 5 — Non-current Equipment IAS 19 —
Financial Statements Grants and Disclosure
Assets Held for Sale Employee Benefits of Government
and Discontinued IAS 17 — Leases Assistance
Operations IAS 23 — IFRS 11 — Joint
IAS 24 — Related Arrangements
IFRS 7 — Financial Borrowing Costs IAS 30 — Disclosures
Instruments: Party Disclosures
IAS 28 — Investments in in the Financial
Disclosures IAS 27 — Separate IFRS 16 — Leases
Associates and Joint Statements of Banks
IFRS 9 — Financial Financial Statements
Ventures and Similar Financial
Instruments IAS 36 — Institutions
IFRS 15 — Revenue Impairment of IFRS 12 — Disclosure of
from Contracts with Assets Interests in Other
Customers (IAS 11, Entities
18)
3

IASC- International
Accounting Standards
Committee

IASB - International Accounting

Standards Board

SAC - Standards Advisory

Council

IFRIC - International Financial

Reporting Interpretations
Committee
4 NỘI DUNG
 1. Khuôn mẫu lý thuyết của IASB (IASB Conceptual framework)
 2. Sự kiện sau kỳ báo cáo (Events after the Reporting Period - IAS 10)
 3. Bất động sản, nhà xưởng và thiết bị( Property, plant and equipment – IAS 16)
 4. Tài sản vô hình (Intangible asset – IAS 38)
 5. Thuê tài sản (Leases – IAS 17, IFRS 16)
 6. Hàng tồn kho (Inventory – IAS 2)
 7. Bất động sản đầu tư (40 Investment Property - IAS 40)
 8. Tổn thất tài sản (Impairment – IAS 36)
 9. Dự phòng, tài sản và nợ tiềm tàng (Provisions, Contingent Liabilities and Contingent
Assets – IAS 37)
 10. Hợp đồng với khách hàng (IFRS 15 và IAS 18 - Revenue)
5 TÀI LIỆU HỌC TẬP

 - Slide bài giảng

 - Giáo trình kế toán quốc tế 1
 - Chuẩn mực kế toán quốc tế (www.IASB.org)
 - International Financial Reporting (Alan Melville)
…
6 ĐÁNH GIÁ

 - Quiz, Bài tập (10%)

 - Kiểm tra (30%) (Trắc nghiệm + Tự luận)
 - Thi cuối kỳ (60%) (Trắc nghiệm + Tự luận)
 7
7

IASB Conceptual Framework

 8 History

 1989 – The Framework for the preparation and presentation of the Financial Statements
 2010 – Framework for the Preparation and Presentation of Financial Statements
 2015 - Conceptual Framework for Financial Reporting – Exposure draft
 2018 - Conceptual Framework for Financial Reporting

Chapter 1 Chapter 2 Chapter 3 Chapter 4

New Empty New Old

9 Definition Conceptual framework

 sets out the concepts that underlie the preparation and presentation of financial
statements

Accounting IFRS/IAS
theory

(Conceptual Framework)
10 Role of the Conceptual Framework

➢ to set standards
✓ enhances consistency across standards
✓ enhances consistency over time as Board members
change
✓ provides benchmark for judgments

➢ to develop accounting policies in the absence of specific standard

or interpretation
11 Contents of the Conceptual
Framework CF 2010

 Chapter 1: The objective of general purpose financial reporting

 Chapter 2: The reporting entity
 Chapter 3: Qualitative characteristics of useful financial information
 Chapter 4: The Framework (1989): The remaining text
 Underlying assumption
 The elements of financial statements
 Recognition of the elements of financial statements
 Measurement of elements of financial statements
 Concepts of capital and capital maintenance
12
Contents of the Conceptual Framework
CF 2018

 Chapter 1: The objectives of general purpose financial reporting

 Chapter 2: Qualitative characteristics of useful financial information
 Chapter 3: Financial statements and the reporting entity
 Chapter 4: The elements of financial statements
 Chapter 5: Recognition and derecognition
 Chapter 6: Measurement
 Chapter 7: Presentation and disclosure
 Chapter 8: Concepts of capital and capital maintenance
 1. The objective of general purpose financial
13
reporting

 to provide financial information about the reporting entity that is useful to existing and
potential investors, lenders and other creditors in making decisions about providing
resources to the entity

buying, selling or holding equity and debt instruments, and

providing or settling loans and other forms of credit
14 Useful financial information - What?

Risk ?
Premium ?

Economic resources & claims

Changes in resources & claims
Changes in cash flows
Management’s stewardship of entity resources.
15 Useful financial information: Where?

 Statement of financial position

Liquidity

Current liability
Current
asset Non current liability

Equity
Non current asset Economic rescources & claims
Strengths & weaknesses
Liquidity & solvency
16 Useful financial information: Where?

Statement of comprehensive income

Revenue
Profit or loss from
Expenses operating activity

Financial income Profit or loss from financial

Financial expenses activity

Other income Profit or loss from other

activity
Other expenses
Profit or loss before tax
Income tax
Profit or loss after tax
Other comprehensive income
Changes in resources & claims
from financial performance
- Components of that return
➔ Efficiently effective use of
the reporting entity’s resources
17 Useful financial information: Where?

Statement of changes in equity

Share Retain Revaluation
Total
capital earnings surplus

Balance as at 1/1/X6
Retrospective application
Issuance of new share
Dividend
Transfers between equity components Changes in Resources & claims
Balance as at 31/12/X6 NOT from financial performance
debt or equity instruments
18 Useful financial information: Where?

Statement of cash flows

Net cash from operating activities

Net cash from investing activities
Net cash from financing activities

Changes in cash flows

Cash generating ability
Cash usage
19
Notes to financial statements
Supplement information

?
° Accounting policy
° Contingency liability
° Subsequent event
° Related parties and transactions
20
Financial statements

provide financial information about the reporting entity’s assets,

Scope liabilities, equity, income and expenses.

➢ assessing the future net cash inflows

Objective ➢ assessing management’s stewardship of the entity’s economic
resources

➢ specified period of time

Reporting period ➢ comparative information for at least one preceding reporting period.
21
Financial statements

➢ Provide information about transactions and other events of the

reporting entity
What ➢ Possible future transactions and other possible future events
➢ Transactions and other events that have occurred after the end of
the reporting period, if necessary.

Include Consolidated and unconsolidated financial statements

22
Contents of the Conceptual Framework
CF 2018

 Chapter 1: The objectives of general purpose financial reporting

 Chapter 2: Qualitative characteristics of useful financial information
 Chapter 3: Financial statements and the reporting entity
 Chapter 4: The elements of financial statements
 Chapter 5: Recognition and derecognition
 Chapter 6: Measurement
 Chapter 7: Presentation and disclosure
 Chapter 8: Concepts of capital and capital maintenance
23 2. Qualitative characteristic

➢ to provide useful financial information

➢ apply to financial information provided in financial statements

Relevance
Fundamental
qualitative & ➢ must be both
characteristics
Faithful representation

➢ enhance the usefulness of

Comparability information
➢ either individually or as a
verifiability group
Enhancing qualitative ➢ the enhancing qualitative
characteristics characteristics cannot make
timeliness
information useful if that
information is irrelevant or not
understandability faithfully represented.
 Fundamental qualitative characteristics- Relevance
24

Relevant financial information ➔ capable of making a difference in decisions ➔

predictive value and confirmatory value

Revenue
What information should be reported ? Segment revenue
Gains, surplus

How information should be measured? Current value or historical cost

Materiality:
➢ Aspect of relevance
➢ Information is material if omitting it or misstating it could influence decisions of users
➢ Based on the nature or magnitude, or both.
 Fundamental qualitative characteristics-Faithful representation
25
Complete
➢ All information necessary to
understand the phenomenon
➢ Descriptions & explanations
faithfully represent the phenomena that it purports to represent
Neutral Free from error
➢ Without bias ➢ no errors or omissions in the
➢ Not slanted, weighted, emphasized, description, process used to
de-emphasized otherwise manipulated. produce the reported information
(elected and applied).
➢ does not mean perfectly accurate
in all respects.
 26 Applying the fundamental qualitative characteristics
 Identify an economic
phenomenon
Identify the type of information
most relevant
Identify the type of information
faithfully represented
Investment Property
Investment properties should be measured under fair value other
than historical cost, despite of measurement uncertainty
Neutral: Present information relevant to all investment
properties.
Complete: describe: location, square, legal status, historical cost,
and fair value.
Free from error: fair value estimate and information used, and
any uncertainties that significantly affect the estimate
27 Enhancing qualitative characteristics

Comparability
➢ Information is more useful if it can be compared with similar information
about other entities and with similar information about the same entity
for another period or another date.
➢ Consistency help to achieve comparability

Verifiability

➢ Knowledgeable and independent observers could reach consensus

➢ Verification can be direct or indirect
28 Enhancing qualitative characteristics

Timeliness
➢ In time to be capable of influencing their decisions

Understandability
➢ Clearly and concisely.
➢ Complex phenomena and difficult to understand would be reported
➢ For users who have a reasonable knowledge of business and economic
activities
29 The cost constraint on useful financial reporting

➢ Reporting financial information imposes costs, and it is important that those

costs are justified by the benefits of reporting that information.
➢ Costs and benefits to consider.
30
Contents of the Conceptual Framework
CF 2018

 Chapter 1: The objectives of general purpose financial reporting

 Chapter 2: Qualitative characteristics of useful financial information
 Chapter 3: Financial statements and the reporting entity
 Chapter 4: The elements of financial statements
 Chapter 5: Recognition and derecognition
 Chapter 6: Measurement
 Chapter 7: Presentation and disclosure
 Chapter 8: Concepts of capital and capital maintenance
31 3. Financial statements and the
reporting entity- Assumption
 Going concern
➢ The reporting entity is a going concern and will continue in operation for
the foreseeable future.
➢ The entity has neither the intention nor the need to liquidate or cease
trading.
➢ An intention or need exists, the financial statements may have to be
prepared on a different basis and, if so, the basis used is disclosed in the
financial statements.
32
Contents of the Conceptual Framework
CF 2018

 Chapter 1: The objectives of general purpose financial reporting

 Chapter 2: Qualitative characteristics of useful financial information
 Chapter 3: Financial statements and the reporting entity
 Chapter 4: The elements of financial statements
 Chapter 5: Recognition and derecognition
 Chapter 6: Measurement
 Chapter 7: Presentation and disclosure
 Chapter 8: Concepts of capital and capital maintenance
33 4. The elements of financial statements
Relationship

Asset Income
Liability

Equity
Expenses
 34 Asset

 Asset ➢ is a present economic resource controlled by the entity as a result of past events.
➢ An economic resource is a right that has the potential to produce economic benefits.

potential to ➢ is the present right, present potential to produce future economic benefits; not
produce
economic
the future economic benefits.
benefits ➢ is a right that has potential to produce economic benefit, not need to be
certain.
 Asset
35

 Asset ➢ is a present economic resource controlled by the entity as a result of past events.
➢ An economic resource is a right that has the potential to produce economic benefits.

Right ➢ rights that correspond to an obligation of another party:

rights to receive goods or services; rights to receive cash;
rights to receive goods or services,
rights to exchange economic resources on favourable terms (opion contraction),
transfer an economic resource if a specified uncertain future event occurs
➢ Right that not correspond to an obligation of another party:
rights over physical objects (PPE, inventory…),
rights to use intellectual property
 36 Asset

✓ Present ability to direct the use of the economic resource

✓ Present ability to prevent other parties from directing the use
✓ Deploy economics resource
Control ✓ Economic benefits from that resource must flow to the entity

 Asset ➢ is a present economic resource controlled by the entity as a result of past events.
➢ An economic resource is a right that has the potential to produce economic benefits.
 Liability
37

Liability ➢ is a present obligation of the entity to transfer an economic resource as a

result of past events.

past events. obligation Transfer an economic resource

➢ has already obtained ➢ is a duty or ➢ potential to transfer an
economic benefits responsibility economic resource,
(bought inventories, ➢ no practical ability to ➢ not need to be certain
PPE…) avoid.
➢ taken an action ➢ by contract, legislation,
(operating a business entity’s customary
or operating a practices, published
market) policies or specific
statements
 38 Equity

Equity ➢ is the residual interest in the assets of the entity after deducting all its
liabilities.
➔ Asset = Liability + Equity
(a) shares of various types, issued by the entity; and
(b) some obligations of the entity to issue another
equity claim.
Equity claims
✓ dividends
✓ the proceeds from satisfying the equity claims
✓ other equity claims.
 39 Income & Expenses

Income ➢ is increases in assets or decreases in liabilities that result in increases in

equity, other than those relating to contributions from holders of equity
claims.

Expenses ➢ Expenses are decreases in assets or increases in liabilities that result in

decreases in equity, other than those relating to distributions to
holders of equity claims.

➢ Contributions from holders of equity claims ➔ Not Income, Not expensive

➢ Income & Expensive ➔ Changes in assets and liabilities ➔ changes in equity
40
Contents of the Conceptual Framework
CF 2018

 Chapter 1: The objectives of general purpose financial reporting

 Chapter 2: Qualitative characteristics of useful financial information
 Chapter 3: Financial statements and the reporting entity
 Chapter 4: The elements of financial statements
 Chapter 5: Recognition and derecognition
 Chapter 6: Measurement
 Chapter 7: Presentation and disclosure
 Chapter 8: Concepts of capital and capital maintenance
 41 5. Recognition
CF 2018

What? Contributions from

Assets, liabilities, equity + Income & +
holders of equity claims
at the beginning expenses & distributions to equity
claims

Increase asset, or Decrease asset, or

Decrease liability Increase liability

When?

(1) Meets the definition of an element

(2) Provides users of financial statements with relevant information and faithful
representation
 42
Existence uncertainty
whether an asset or liability exists
Low probability of an inflow or outflow
of economic benefits
an asset or liability exists, but the probability of an
inflow or outflow of economic benefits is low
Measurement uncertainty
uncertain estimate, even highly uncertain
estimate
Notes
Not recognized an asset or liability
is recognized an asset or liability
(disclosure)
And note: magnitude, timing, factors
& none would provide useful
information ➔ not recognized A of L
& provide useful information + faithful
representation ➔ recognized an A or L
& none would faithful representation ➔
not recognized an A or L
43 Derecognition
CF 2018

when

➢ loses control of all or part of the asset

➢ no longer has a present obligation for all or part of the liability
44
Contents of the Conceptual Framework
CF 2018

 Chapter 1: The objectives of general purpose financial reporting

 Chapter 2: Qualitative characteristics of useful financial information
 Chapter 3: Financial statements and the reporting entity
 Chapter 4: The elements of financial statements
 Chapter 5: Recognition and derecognition
 Chapter 6: Measurement
 Chapter 7: Presentation and disclosure
 Chapter 8: Concepts of capital and capital maintenance
45 6. Measurement
 CF 1989, 2010

➢ Historical cost. Assets are recorded at the amount of cash or cash equivalents paid or the fair value of the
consideration given to acquire them at the time of their acquisition.

➢ Current cost. Assets are carried at the amount of cash or cash equivalents that would have to be paid if
the same or an equivalent asset was acquired currently.

➢ Realizable (settlement) value. Assets are carried at the amount of cash or cash equivalents that
could currently be obtained by selling the asset in an orderly disposal.

➢ Present value. Assets are carried at the present discounted value of the future net cash inflows that the
item is expected to generate in the normal course of business.
46 Example
 Coâng ty Tieàn Phong mua moät loâ haøng vaøo ngaøy 12.1.20X0 vôùi giaù mua 36 trieäu ñoàng (chöa thueá
GTGT 10%, thueá ñöôïc khaáu tröø), chi phí vaän chuyeån boác dôõ veà kho laø 600.000 ñoàng. Loâ haøng naøy
coøn toàn kho vaøo ngaøy 31.12.20X0. Giaù phaûi traû ñeå mua loâ haøng naøy vaøo thôøi ñieåm 31.12.20X0 laø 45
trieäu ñoàng (chöa thueá 10%) vôùi chi phí vaän chuyeån boác dôõ khoaûng 800.000 ñoàng. Tuy nhieân, do loâ
haøng bò giaûm chaát löôïng veà toàn kho laâu neân giaù coù theå baùn ñöôïc chæ vaøo khoaûng 18 trieäu ñoàng (chöa
thueá GTGT 10%), chi phí lieân quan ñeán tieâu thuï öôùc tính 600.000 ñoàng. Haõy tính giaù trò cuûa loâ haøng
treân vaøo thôøi ñieåm 31.12.20X0 xaùc ñònh theo caùc phöông phaùp khaùc nhau laø:
 Giaù goác
 Giaù trò thuaàn coù theå thöïc hieän
 Giaù hieän haønh
47 6. Measurement
CF 2018

➢ Measurement bases
➢ Factors to consider when selecting a measurement basis
48 Measurement bases
CF 2018

Historical cost Current value

➢ historical cost, amortized cost, carrying ➢ fair value, fulfilment value, is

amount.. updated at measurement date.
➢ Derived from the transaction or event that ➢ Current cost
created them ➢ capture any positive or negative
➢ Do not reflect changes in prices, do reflect changes
change in consumption (depreciation or
amortization), impairment, or fulfilment.
➢ historical cost of the asset is no longer
recoverable.
49 Factors to consider when selecting a measurement basis
CF 2018

➢ Must be relevant and it must faithfully represent what it purports to represent

➢ Should, as far as possible, be comparable, verifiable, timely and understandable

➢ Benefits of the information must be sufficient to justify the cost of providing that information
50 7. Concepts of capital and capital
maintenance
 Concepts of capital
 Concepts of capital maintenance and the determination of profit
 51 Concepts of capital

Financial concept of capital Physical concept of capital

Capital is such as invested money or Capital is such as operating capability,

invested purchasing power, capital is regarded as the productive
Capital is synonymous with the net assets capacity of the entity based on,
or equity of the entity for example, units of output per day.
 Concepts of capital maintenance and the
52
determination of profit
Financial capital maintenance
Nominal monetary units or units of
constant purchasing power)
Profit = the net assets at the end of the period
- the financial (or money) amount of net
assets at the beginning of the period.
(after excluding any distributions to, and
contributions from, owners holders of equity
claims during the period).
Physical capital maintenance
Profit = the physical productive capacity (or
operating capability) of the entity (or the resources
or funds needed to achieve that capacity) at the end
of the period - the physical productive capacity at
the beginning of the period,
(after excluding any distributions to, and
contributions from owners holders of equity claims
during the period).
53 Changes in the prices of assets and
liabilities
 The principal difference between the two concepts of capital
maintenance
Financial capital maintenance - nominal monetary units
➢ Profit represents the increase in nominal money capital over the period.
➢ Increases in the prices of assets referred to as holding gains (profits), but may not be
recognized until the assets are disposed of in an exchange transaction.

Financial capital maintenance - constant purchasing power units

➢ Profit represents the increase in invested purchasing power over the period.
➢ Only that part of the increase in the prices of assets that exceeds the increase in
the general level of prices is regarded as profit. The rest of the increase is treated
as a capital maintenance adjustment and, hence, as part of equity.
54 Changes in the prices of assets and
liabilities (cont)
Physical capital maintenance

➢ Profit represents the increase in that capital over the period.

➢ All price changes of the assets and liabilities are viewed as changes in the
measurement of the physical productive capacity of the entity ➔ as capital
maintenance adjustments that are part of equity and not as profit.
55 Ex Capital maintenance

On 1 Jan X0, an inventory was purchased with the price of 100 CU. On 31 Dec
X0, the purchasing power increase by 10%. The current value of the inventory
was 130 CU. The inventory was sold on 1/1/ X1 at the price of 150 CU.
Required: Calculate the carrying amount of inventory, P/L and OCI under
different capital maintenance views.
 56 Relationship

Concepts of capital Financial concept of capital Physical concept of capital

Financial capital Financial capital

Capital maintenance maintenance - nominal maintenance - constant Physical capital maintenance
monetary units purchasing power units

Measurement bases Historical cost General price level accounting Current cost Current value

Historical cost 1979 - 1986 1979 - 1986 Fair value

Recoverable cost
Net realizable value CF 2018