International Financial Reporting-1 Osmania University B.com 5th Semester Notes

25th November 2020 1 By indiafreenotes

Last updated on March 17th, 2023 at 12:46 pm

Unit 1 General Purpose of Financial Accounting and Reporting as Per Us GAAP And IFRS: {Book}
GAAP			VIEW
IFRS			VIEW
Conceptual framework: Standard Setting Bodies & Hierarchy			VIEW
Elements of Financial statement			VIEW
Primary objectives of financial reporting			VIEW
Qualitative Characteristics of Financial statement, Fundamental, Assumptions			VIEW
Financial statement Principles			VIEW
Accounting Cycle			VIEW
Preparation of Financial statement, General-purpose financial statements			VIEW
Balance sheet	VIEW		VIEW
Income Statement			VIEW
Statement of Comprehensive income			VIEW
Statement of changes in equity			VIEW
Statement of changes cash flows		VIEW	VIEW
Public Company reporting requirements			VIEW
SEC Reporting Requirements			VIEW
Interim Financial Reporting			VIEW
Segment Reporting			VIEW
Revenue recognition: 5 Step approach to Revenue Recognition	VIEW		VIEW
Certain Customer Right’s & Obligations			VIEW
Specific Arrangements			VIEW
Long Term Construction Contracts			VIEW

Unit 2 Current Assets and Current Liabilities: {Book}
Monetary Current Assets & Current Liabilities:			VIEW
Cash & Cash Equivalents			VIEW
Accounts Receivable			VIEW
Notes Receivable			VIEW
Transfers & Servicing of Financial Assets			VIEW
Accounts Payable			VIEW
Employee-related Expenses Payable		VIEW	VIEW
Inventory: Determining Inventory			VIEW
Cost of Goods Sold			VIEW
Inventory Valuation, Inventory Estimation Methods	VIEW	VIEW	VIEW

Unit 3 Financial Investments and Fixed Assets: {Book}
Financial Investments:			VIEW
Investments in Equity Securities		VIEW	VIEW
Investment in Debt Securities			VIEW
Financial Instruments			VIEW
Tangible Fixed Assets, Acquisition of Fixed Assets			VIEW
Capitalization of Interest			VIEW
Costs incurred After Acquisition			VIEW
Depreciation	VIEW	VIEW	VIEW
Impairment, Asset Retirement Obligation			VIEW
Disposal Conversions		VIEW	VIEW
Involuntary Conversions			VIEW
Intangible Assets:			VIEW
Knowledge-based intangibles (R&D, Software)
Legal rights-based intangibles (Patent, Copyright, Trademark, Franchise, License, Leasehold improvements)
Goodwill		VIEW	VIEW

Unit 4 Financial Liabilities (As per US GAAP and IFRS): {Book}
Bonds Payable		VIEW
Types of Bonds	VIEW	VIEW
Convertible bonds vs. Bonds with detachable warrants		VIEW
Bond Retirement		VIEW
Fair Value Option & Fair Value Election		VIEW
Debt Restructuring: Settlement, Modification of terms		VIEW

Unit 5 Select Transactions (As per US GAAP and IFRS): {Book}
Fair value Measurements: Valuation Techniques, Concept		VIEW
Fair value hierarchy		VIEW
Accounting changes and error correction:
Changes in Accounting estimate		VIEW
Changes in Accounting principle		VIEW
Changes in Reporting entity		VIEW
Correction of an error, Contingencies		VIEW
Possibility of occurrence (Remote, reasonably possible or Probable)		VIEW
Disclosure vs. Recognition	VIEW	VIEW
Derivatives and Hedge Accounting:		VIEW
Speculation (non-hedge)		VIEW
Fair value hedge, Cash flow hedge		VIEW
Nonmonetary exchanges: Exchanges with commercial substance, Exchanges without commercial substance		VIEW
Leases: Operating lease, Finance lease		VIEW
Sale leaseback		VIEW