FAR 1: ASSETS

Cash and Cash Equivalents

Bank Reconciliation
Receivables
Biological Assets
Inventories
Investment
Propert y, Plant and Equipment
Government Grants
Borrowing Costs
Depletion GATO, Abdul Barri Indol
Investment Propert y
Intangible Assets MSU - Main Campus
Funds and Other Investments
Impairment of Assets 09452146094
 BANK RECONCILIATION
Proof of Cash
JULY RECEIPTS DISBURSEMENTS AUGUST
Per Bank
CASH UNADJUSTED BALANCES xx xx xx xx
Deposits in Transit
Cash on Hand Cash in Bank Cash funds July xx xx
‘tao’ checks August xx xx
traveler’s Demand/current account Petty Cash fund
Savings account Dividend fund Outstanding Checks
manager’s Exclude
Compensating balances Interest fund July xx xx
cashier’s cancelled
- if unrestricted or Revolving fund checks August xx xx
Money order informal Tax fund xx xx
ADJUSTED BALANCES xx xx
Bank draf ts
Per Book
Bank GR: Current Liability UNADJUSTED BALANCES xx xx xx xx

Overdraf t Multiple accounts Credit Memo Notes & Interest

collected by bank
Except: in one bank Can be offset July Book errors xx xx
against Cash August xx xx
Immaterial
Debit Memo Bank service charge
NSF or DAIF checks
July Book errors xx xx
August xx xx
Errors

CASH EQUIVALENTS
Criteria UNDER receipt
July xx xx
August xx xx
OVER receipt
July xx xx
August xx xx
Original maturity 3 months
OR or less UNDER disbursement
Acquired before maturity xx xx
July
August xx xx
Components
OVER disbursement
Treasury bills Silent:
Treasury notes
NCA July xx xx
Treasury bonds
Time deposit August xx xx

Certificate of deposit ADJUSTED BALANCES xx xx xx xx

Commercial papers Cash Debited July Credited receipts
Savings UNDER receipt

Money market placements Savings certificate Cash Equi Prior month error: check journal entry if to add or deduct July xx xx

Mandatory redeemable Current month error: check nature of error Credited July Debited disbursements
OVER receipt
July
xx xx
If criteria met
preferred share Error on receipt - all receipts item
Error on disbursement - all disbursements item
SPECIAL CASES

1) NSF checks redeposited during the current month

Affected items:
BANK (Receipts) (Disbursements)
2) Errors prior month corrected in the current month
Affected items:
BOOK (July) (August)
or
July August
 TRADE AND OTHER
RECEIVABLES BIOLOGICAL ASSETS PAS 41
DELIVERY?
There is revenue No revenue despite delivery Coverage
Upon delivery Before delivery Sale with repurchase Bio assets except bearer plants
FOB Shipping Point Bill & Hold Sale on approval / trial Agricultural produce @ pt of harvest
Installment sale Agricultural produce
Lay away sale
Unconditional gov’t grants relating to BA

FOB Shipping Point: FOB Seller / CIF / FAS / Place of Shipper FOB Tea bush
Destination: FOB Buyer / Ex-ship / Place of Buyer Grape vine
Plants PPE Fruit-bearing trees
Oil palms
Bearer Rubber tree
Shipping pt D estination Animals
I n (freight) Write offs - Recoveries
Out (freight) Bad debt % =
P repaid (freight) C ollect (freight) Net Sales Plants BIO ASSET
+ Accounts Rec’ble - Accounts Rec’ble
Consumable
Animals
TRADE RECEIVABLES NON- TRADE RECEIVABLES
- even > 12 months
Current: < 1 yr or less
pledged Advances to employees Animals for recreation (zoo): PPE
Accounts receivable discounted Advances to suppliers Ocean fishing Fish farming Plantation
Notes receivable assigned Non-current: Deforestation Hurticulture
Interest receivable factored Advances to affiliates Forest hunting
hypothecated Security deposit Commission to brokers
Subscription receivable Measurement Levies by regulatory agencies
- deduct from SHE if current Transfer taxes and duties
Initial: FV less Costs to Sell
LOAN RECEIVABLES
NOTE RECEIVABLES Subsequent: FV less Costs to Sell
Measurement
Subsequent Measurement Impairment Gains/Losses due to:
Initial Initial Fair / Present value - Discount new cash
Short-term: Face Value Face Value + Direct costs 1) Price change = [Beg. Age x (Change in Price)] x Quantity
flows still at the
- Origination fees ORIGINAL EFFECTIVE %
Long-term: Fair value Amortized cost 2) Physical change = (End. Price x End. Age) - (End. Price x Beg. Age)] x Qty
+ Direct costs Subsequent Amortized cost + FV less CTS of Newborn @ date of birth
RECEIVABLE FINANCING
1) PLEDGE 3) ASSIGNMENT
No effect to the receivable balance AR-assigned - Loans Payable = Equity portion BIO ASSET If FV less CTS not given
Still owner of receivables pledged Balance xx Balance xx Beg. Purchases xx
Collection xx Interest expense xx Disclosed in the Sales xx
2) FACTORING Sales discounts xx Change in FV xx
Payments notes to Harvest of
Sales returns xx xx financial (gain usually)
Amount factored xx Write-off statements consumable xx
Service fee xx xx
End xx End xx
Factor’s holdback xx
End xx xx
G/L on factoring? only from G/L
Interest charged xx - recognize if - if factor’s holdback is
Net Proceeds xx with recourse returnable, exclude it
4) DISCOUNTING Maturity value
(CA of note + Net Proceeds xx
Interest up to CA of note + interest xx
maturity) already accrued
Discount charge G/L on Discounting xx
(Mat. value x Discount %
from discount date to
maturity) xx
Net Proceeds
 INVENTORIES PAS 2

Not covered
Financial Instruments (PFRS 9) Biological INVENTORY ESTIMATION
Assets As to recognition
Agricultural produce @ pt of harvest
Inventories of producers of 1) Gross Profit Method FAQs
- agri products Interim reporting Es timated Ending inventory ss
As to measurement
- forest products Annual reporting Lo on casualty i.e fire
- mineral products Trend Observe increase in % per year In ventory shortage
Inventories of commodity brokers/traders GPR1 + GPR2 + GPR3 + ...
Average Notes
Recognition Gross Profit % GPR n consider Sales returns only Sales
Overall Total Gross Profit allowances
BUYER: FOB Shipping Point / FOB Seller / CIF / FAS / Place of Shipper Bill & GPRSilent Total Sales
Hold arrangements / Installment sale / Sale or return Sales discounts
SELLER: FOB Destination / FOB Buyer / Ex-ship / Place of Buyer Lay 2) Retail Method
Cost Retail
Away sales / Pacto de retro sales a. Average Retail Method
Sales X
BORROWER: Loan or Pledge of Inventories X TGAS @ Cost
Sales Returns EI @ Cost = EI @ retail X
Measurement INITIAL: @ COST Employee Discounts X TGAS @ Retail
GR: who owns the goods, shoulders the costs SUBSEQUENT: Normal Losses Net X
COGS = TGAS @ Cost - EI @ cost
Lower of Cost & Net Sales X
1) Purchase Price
Realizable Value (LCNRV) Beginning Inventory X X b. FIFO Method
Regular: at Invoice Price TGAS @ Cost -
Purchases X X
Deferred settlement: Price under normal credit terms Net Realizable Value BI @ Cost
Lump-sum: allocate using FV method Freight-in X EI @ Cost = EI @ retail X TGAS @ Retail -
2) Import Duties Finished Goods: Estimated Purchase Discounts X BI @ Retail
3) Irrecoverable Taxes Selling Price (ESP) less Purchase Returns & Allow. X X
4) VAT by NON-VAT Taxpayer Departmental Transfer-In X X COGS = TGAS @ Cost - EI @ cost
Estimated Costs to Sell (ECTS)
5) Freight & Handling Work in Process: ESP less ECTS Departmental Transfer-Out X X c. Conservative Retail Method
6) Insurance while IN TRANSIT less Estimated Costs to Complete Abnormal Loss X X
TGAS @ Cost
7) Broker’s Commission (ECTC) Net Markup X EI @ Cost = EI @ retail X TGAS @ Retail -
8) Conversion Costs (Labor & Overhead) Raw Materials: Current Net Markdowns X Net Markdowns
9) Normal Losses Replacement Costs but only if TGAS @ Cost / @ Retail X X X
Ending Inventory at Retail X COGS = TGAS @ Cost - EI @ cost
10) Storage for goods in process related Finished Goods is also
wrote down to its NRV
Accounting
PERIODIC SYSTEM PERPETUAL SYSTEM PURCHASE COMMITMENTS

- maintain a Cost of Goods sold account - recognize losses

- no Cost of Goods sold account
- inventory count is required - recognize gains but up til the loss recognized Amount
- inventory count is encouraged
- for inventories that have high volume &
- for inventories that have of Purchases: Price @ Settlement Date
turn-over and low valued items
high volume & turn-over and
Methods: low valued items
FIFO Methods:
Weighted Average FIFO
Moving Average
 INVESTMENT IN EQUITY SECURITIES

% of ownership PREFERRED SHARES ORDINARY SHARES

< 20% FV-P&L FV-P&L / FV-OCI
20% - 50% or Investment in Associate
> 50% - 100% FV-OCI Investment in Subsidiary
Classification
Initial Subsequent Changes
INVESTMENTS PFRS 9
FV-P&L FV P&L
FV
FV-OCI FV + Transaction costs OCI
Business Model Test
*Exclude dividend-on
EQUITY DEBT
To hold financial asset and Reclassification
Held for Trading? YES
NO collect contractual cash flows - no reclassification allowed

NO YES
Dividend Income?
Cash
FV-OCI option used? YES To collect contractual cash Property Shares
NO flows and sell financial assets Same class: memo entry
Different class: allocate using FV method Shares in
NO lieu of cash dividend
YES
Cash in lieu of shares dividend
YES
FV-P&L option used? - ‘as if sold’ treatment
NO - cost of investment is reduced

@ FV - P&L Special Assessment? Stock Rights

@ FV - OCI @ Amortized Cost
- additional cost of investment but - use FV of stock right
no increase in # of shares - when FV not available, use
Stock Splits theoretical value:
shares par 1) Selling right-on
FV of stock Exercise
@ Cost - memo entry
Value of = right-on - price
@ FV-P&L
one right # of rights to
Entry: +1
purchase one share
FV-P&L xx
Unrealized Gain-P&L xx 2) Selling ex-right
@ FV-OCI
Entry: FV of stock Exercise
-
FV-OCI xx right-on price
Value of =
Unrealized Gain-OCI xx one right # of rights to
purchase one share
 INVESTMENT IN ASSOCIATE

Significant
Influence: 20% - 50% (presumed unless stated)
INVESTMENT IN DEBT SECURITIES Potential Ordinary
Classification Representation in BOD shares?
Initial Subsequent Changes Participation in policy-making Included in determining significant influence Excluded
FV-P&L Material transactions bet ween investor in determining share in NI / dividends
FV-OCI FV FV P&L & investee
@ AC FV + Transaction costs FV OCI Interchange of managerial personnel
FV + Transaction costs @ AC - Provision of essential technical info
Disposal Measurement @ COST
- no partial disposal for FV-OCI Investment in Associate
- all realized G/L thru disposal (arrow) P&L
Reclassification
- allowed if there is change in business model only
- reclassification date: first day of reporting
period following change in business model
- for Investment @ AC, use effective rate @ date of
reclassification
 xx Dividends received xx
xx Share in Net Loss ** xx
ase in OCI xx Amortization of excess
(excluding goodwill) *** xx
Impairment Loss (PAS 36) xx
Share in decrease in OCI xx
xx
G/L: OCI
Inventory---------------(-) or (+) when
@ AC No G/L @ FV-OCI Under (-) or over (+) Land-----------------------(-) or (+) sold
valuation of Depreciable Asset---------(-) or (+) - over
*NI adjustments
Effective rate: AS IS life of
Interest Income: AS IS asset

Impairment Cumulative Deduct (declared or not)

FV-P&L Preference dividends Not cumulative Deduct IF actually declared only
(Current year only) Mandatory IGNORED (interest expense sya)
Impairment Loss = Recoverable Amount - Amortized Cost
FV or PV @ orig. effective rate
redeemable PS
Impairment Reversal ** In case of heavy losses, loss recognition shall be in this order:
Recovery of heavy losses?
OCI @ AC 1) CA of investment in associate Just reverse the order to
Total 2) Investment in preferred shares recover losses
FV @ Balance Sheet date vs UG-OCI Interest 3) Unsecured long-term receivables
@ AC if not impaired Reversal of 4) Any further losses, recognize promptly with a credit to liability
@ AC af ter impairment vs
impairment *** Goodwill is impliedly part of initial cost of investment Gain
on bargain purchase? Addition to cost of investment
Net Investment Income
Amortization of excess Share in Net Income
(excluding goodwill) xx (Including gain on
Impairment Loss xx bargain purchase) xx
 PROPERTY, PLANT & EQUIPMENT PAS 16 Land & Building
- ff. costs shall be allocated bet ween the t wo (if silent)
Environment & Safety equipments Exploration & Purchase price
Evaluation assets Brokers commission
Land & Investment Escrow Revaluation Model

Lease or Operating Building Property Relocation Revalued amount: FV or Depreciated Replacement Cost
Rental? Mortgages Use new residual value but
Others PPE
Taxes useful life remains unless stated Revaluation
Finance Payments to tenants to vacate premises Option
contract on taken properties Surplus
Spare Parts - net of tax in Comprehensive Income (changes)
GR: Inventory or Prepaid Expense Exc: Unusable Allocate to LAND a. Lump-sum realization: asset upon de-recognition
PPE Allocated b. Piecemeal: result of time passage
Major & Long-lived Standby equipments costs to old Tear down and for depreciable assets
building? erect new Expensed Presentation?
Measurement building OCI - changes / realization in revaluation surplus
Demolition costs:
Initial: COST MODEL + DACs allocate to new building Balance Sheet - cumulative balance
Subsequent: COST or REVALUATION MODEL (do not deduct salvage proceeds)
Subsequent Costs
DACs (Directly Attributable Costs) Testing
Depreciation Important Notes 1) Revenue Expenditures - expensed
Installing Declining balance method: 2) Capital Expenditures
Professional fees Site the only method that ignores residual value Useful life
- capitalized if it: Capacity / efficiency Safety
Preparation
Composite Method
Initial Delivery & Handling Total annual SLM depreciation Addition / Expansion
Employee benefits Composite % = Betterment / Improvement
Total Cost of Assets
Initial Cost of Dismantling: if required by law/contract Replacement
Cash Discounts: deducted whether taken or not Total Depreciable Amount Repairs & Inspection Reinstallation
Composite Life = Total annual SLM depreciation
Exchange of PPE
Subsequent depreciation?
1) with commercial substance (material) - no gain/loss upon disposal
- update first the class of PPE it belongs to
(close to accumulated depreciation) then compute depreciation
Order of Priority:
- depreciation every year-end
a. FV of Asset given +/- boot
b. FV of Asset received Retirement Method
c. CA of Asset given Gain/Loss = (# of retired x FIFO cost) - Proceeds
Gain/Loss computation: exclude the boot Replacement Method
2) without commercial substance (immaterial) Gain/Loss = (# of retired x Replacement cost) - Proceeds
- no gain/loss (@ carrying amount) Inventory Method

Beg. x Disposed x
Purchases Depreciation x
End. x
 BORROWING PAS 23
GOVERNMENT PAS 20
COSTS
Monetary grants GRANTS Non-monetary grants Coverage Suspension Only if major delay

Cash Inventories PPE Cessation

Receivables @ Face Value Intangible Assets Long period of time
@ Fair Value plus Direct Costs
@ Fair Value Asset being constructed is
Forgivable Loans CA of Loan Investment properties under cost model substantially complete

Start of accounting: When conditions are started to be fulfilled

Commencement
Kinds of Grants Expenditures incurrence Borrowing
started All met
1) Grant related to Asset 2) Grant related to Income
Activities (blueprint; permits) started
Gross method:
Recognize Deferred Income Other Income (income from Accounting
- govt grant govt grant) - Avoidable Borrowing Costs accounting
Net method:
Asset balance: CA less govt Related expense (expenses
grant from govt grant) SPECIFIC BORROWING MIXED BORROWING
Repayment of Grant
- borrowing specifically for the 1) Traditional method (silent)
Gross method Net method construction project
Grant related to WAEx - Specific Borrowings =
Income Approach 1 Approach 1 Capitalizable BC = Actual BC less Investment Income WAEx (general borrowings) X WAIR
= Maximum BC
Asset GENERAL BORROWING
Approach 1 Approach 2 2) Contemporary method (in practice)
Approach 1 - borrowing for general purposes
- deduct fully the specific borrowings
Balance: close Deferred Income - govt grant Excess: Actual BC to the early dated expenses then
recognize Loss in P&L Capitalizable BC = Lower Maximum BC weighted average the remaining
expenses
Approach 2 Maximum BC = Weighted Average Expenditures (WAEx) x
Increase CA of asset as result of repayment Weighted Average Interest % (WAIR)
Recognize additional cumulative depreciation
WAIR = Total Interest on General Borrowings
Disclosure Total General Borrowings

Not required: Name of govt agency Disclosures

Amount of Capitalizable BC WAIR
 DEPLETION
PFRS 6

- based on management’s policy first

EXPLORATION & EVALUATION ASSETS Measurement INVESTMENT PROPERTY PAS 40

- right to explore must be obtained first Initial: @ Cost Includes

Measurement
Includes Subsequent: Cost or Revaluation model Land / Building or both
Before technical Initial: @ COST + DACs
Presentation Lease under operating lease (as lessor)
Subsequent:
Acquisition costs Lease under finance lease (as lessee)
feasibility & Tangible: PAS 16 (PPE) L&B for capital apreciation Cost Model or FV
Exploratory costs Intangible: PAS 38 (Intangible Assets) Model
commercial viability
Classification Issues
Inventories Properties under
1) Operating lease to employees PPE
Finance Lease?
WASTING ASSETS - treat as Owner-Occupied Property (OOP)
2) Partly Investment Property, Partly OOP Could Fair Value
- natural or mineral resources Lower PV of Minimum
- consumable / non-renewable be sold separately: account separately Couldn’t be
sold separately: majority rules Lease payments
Includes 3) Ancillary services are provided to tenants Incidental Properties under Operating
Acquisition costs / insignificant services: Inv Property Significant: Lease?
Restoration costs @ PV OOP
Residual Value of Wasting Assets @ Fair Value
Silent: capitalize 4) Intra-company rentals
= value of land when restored Not required to restore: ignore Separate FS: Inv Property
Exploration costs Conso FS: OOP
- whether successful efforts or full cost method Changes in Accounting Policy - prospective
Development costs Cost to FV model Changes: P&L
Depreciation
FV to Cost model
Tangible PPE Movable Own useful life (SLM) Own useful life SLM
Immovable Shorter Useful life, Output Transfers
Intangible (Wasting asset) wasting assets method - OOP to Inv Prop and vice versa
Example: road construction (since di naman to usually Allowed only if there is change in use ONLY
sinisimento kaya intangible ang dating) Measurement:
Depletion Method E&E Assets 1) @ Cost - @ CA, no Gain/Loss
Wasting Assets
When wasting assets starts to be extracted Rule: 2) @ FV
No extraction, no depletion From Inv Prop to OOP recognize G/L in P&L
Wasting Assets - Residual Value Actual Inventory the change in FV
Depletion rate = Total Estimated # of Reserves X extraction To Inv Prop from
PPE
Change in estimate? Account prospectively Gain/Loss:
WASTING ASSET DOCTRINE A. Impairment Loss
Sold: Cost of Goods Sold
Presentation of depletion? B.Remaining:
Unsold: Ending Inventory RE, unappropriated X Revaluation Surplus
Shutdown? Add: Accumulated Depletion less Depletion
Depletion: ZERO in Ending Inventory X
Must be SLM af ter shutdown Less: Capital liquidated, prior yr X
Depreciation: (Immovable tangible devt cost)
If resumed promptly, Maximum Dividend to be
back to original declared X
depreciation
 INTANGIBLE ASSETS PAS 38

Major Categories
Characteristics
Non-monetary MARKETING-RELATED
Separable TECHNOLOGY-RELATED
Identifiable Contractual 1) Trademark
Sole control of benefits 1) Patent
Internally-generated Internally-generated
Measurement Acquired separately No amortization
Initial: @ COST (same with PPE, except) Acquired separately
Cost of Litigation: expensed
INTERNALLY-GENERATED INTANGIBLE ASSETS Amortization
2) Masthead - 20 yrs or useful life, shorter
1) Research Phase Competitive patent to protect original patent:
- acquired separately
GR: Expensed - remaining life of original patent
Exc: Capitalize when acquired as Not Intangible Assets if 3) Website development costs
internally-generated: Patent to extend old patent:
in-process R&D Purpose Internal - all patent shall use extended life
Brands External (customers can use)
2) Development Phase Keyword: ‘design’ Masthead 2) Computer Soft ware
Stages Application & Infrastructure stage
GR: Expensed Publishing Titles If all 6 Graphical design stage Integral part of PPE: PPE Cost of Coding

Exc: Met all 6 criteria (stated in problem) criteria are Cost of producing
Goodwill
Customer Lists met For licensing / rental: product masters
Probable ARTISTIC-RELATED Intangible Asset if technically feasible
Measurable Technically Reproduction of product masters for resale: Inventory
feasible 1) Copyright
Intention to complete such - lifetime of author + 50 yrs af ter death GOODWILL
Sufficient resources to complete such
Available for use / sale CONTRACT-RELATED
Depreciate but - acquired in business combination
With alternative use: classified as 1) Franchise (franchisee) - average earnings > normal earnings
Cost of PPE, materials or
Intangible Asset used in R&D R&D Expense Total expenses Average Net Income X %
Shorter: Useful Life or Period granted Average Net Assets X %
Without alternative use: ALL Initial Franchise Fee (amortization)
R&D Methods:
Continuing Franchise Fee
Expense Legal Fees 1) Residual: Purchase Price - FV of Net Assets
Subsequent:
Interest Expenses 2) Direct Method
Cost model
Revaluation model only if there is active market for such asset 2) Leasehold or Lease Right/Bonus (lessee) A. Purchase of excess earnings

Amortization - other than the lease payments GW = (Ave. Earnings - Normal Earnings) X yrs
Presumed ZERO 3rd party is committed to buy such
except if stated @ end of its life B. Capitalization of excess earnings
With finite life: Cost - Residual Value There is active market for such Amortization period: lease term GW = (Ave. Earnings - Normal Earnings) / Cap. %
C. PV of excess earnings
Useful life Leasehold Improvement: PPE GW = (Ave. Earnings - Normal Earnings) X PV Ordinary Annuity
Shorter: Legal or Useful Life
(ignore residual value) D. Capitalization of Average earnings
- work back from purchase price = Ave. Earnings / Cap. %
With indefinite life: None, only annual impairment test CUSTOMER-RELATED

Subsequent Costs 1) Customer List

GR: Expensed - acquired separately
Exc: all 6 criteria met
 FUNDS & INVESTMENTS
OTHER IMPAIRMENT OF ASSETS PAS 36
CASH SURRENDER VALUE
Whole life insurance only When? Carrying Amount > Recoverable Amount
Beneficiary: entity itself Scope GR: No indicator, no impairment testing Exc:
Initial Payments: allocated over holding period (usually 3 yrs) FAQs: PPE (Annual impairment testing)
CSV account: Initial + Increase in CSV - Decrease in CSV Investment Property under cost model Intangible assets with indefinite life
Life Insurance account: Decrease in CSV - Increase in CSV Intangible Assets Associate PPE / Intangible assets not yet ready for use
- Cash dividend - Initial payment (current year only) Gain Investments in Goodwill acquired in business combination
Joint Venture
on settlement: Subsidiary
Proceeds X
Up to settlement / de ath of officer FV less Costs to Sell
Less: CSV + Unexpired insurance premium X Gain Recoverable Amount? HIGHER
(usually) on settlement X Value in Use (discounted)

BOND-SINKING FUND IMPAIRMENT OF CASH GENERATING UNIT

What to record? Interest Income?
Impairment Loss order
1) Goodwill write-off
1) Administered by entity Every transaction When earned 2) All non-cash asset prorata based on carrying amount But
RE appropriation for each non-cash asset’s CA should not be below its own
increases in fund balance recoverable amount
Additional
2) Administered by contribution Upon receipt of
trustee (bank) Statement of Fund REVERSAL OF IMPAIRMENT LOSS
Increase/decrease in
fund balance Balance
Settlement 1) Individual Asset
Cost Revaluation
OCI, net of tax
Bond Sinking Fund (BSF) Revaluation
Recoverable Amount
Beg. xx CA, if not impaired (max limit)
vs
surplus
Additional Contri xx Investment Loss xx
Consider time
value of money Expenses paid xx CA, before reversal vs Gain on
(future value) Investment Income xx revaluation
End. xx P&L

Note: any acquisition or sale of BSF Assets don’t affect the BSF balance 2) Cash Generating Units (CGUs)
- allocated pro-rata using own CA
Recoverable Amount CA
OTHER LONG-TERM FUND INVESTMENTS but not to be increased above the LOWER of:
if not been impaired
1) Preferred Shares redemption fund
2) Asset replacement & expansion fund
3) Contingency fund