Conceptual Framework for Financial Reporting

slide: Welcome

Welcome
- Course introduction
Overview
- How to navigate this e-learning?
- The Conceptual Framework and its purpose and status
- Scope
- An analogy
- Company background
- Meet the people
Session 1—Underlying concepts of the Conceptual Framework
- Learning objectives
- An unexpected overseas travel
- Consider if an entity is a going concern
- Ready to help Hung?
- Review the learning session
  - Learning session summary
  - Learning topic 1—Finanial reporting
    - The objective of financial reporting
    - Who uses financial reports and what are their needs?
    - The reporting entity
    - Objective and scope of financial statements
    - Information about a reporting entity's economic resources, claims, changes in resources and claims
    - Underlying assumption
    - Consider if an entity is a going concern―your thoughts
    - Consider if an entity is a going concern―feedback
    - Summary
  - Learning topic 2—Qualitative characteristics of useful financial information
    - Introduction of qualitative characteristics
    - Fundamental qualitative characteristics
    - Enhancing qualitative characteristics
    - The cost constraint on useful financial reporting
    - Applying the enhancing qualitative characteristics
    - Summary
- Review the scenario
  - Going concern assumption
  - A complex finance transaction
  - Impact of qualitative characteristics
  - Running late…
  - Adjustment for obsolescence
Session 2—The elements of financial statements
- Learning objectives
- Morning cup of ca phe soon
- Ready to help Emma?
- Review the learning session
  - Learning session summary
  - Learning topic 1—The elements of financial statements
    - Two sets of financial statement elements
    - The statement of financial position elements
    - Definition of an asset
    - Definition of a liability
    - Unit of account
    - Financial performance
    - Summary
  - Learning topic 2—Recognition and derecognition criteria
    - Why recognition is important
    - Recognition criteria
    - An illustrative example-Cleopatra’s Restaurant
    - Defining the asset
    - Meeting the recognition criteria
    - What this means for the Cleopatra’s Restaurant
    - Derecognition
    - Summary
- Review the scenario
  - Emma’s call
  - Does an asset exist?
  - Promoting the innovation products
  - What’s the recognition criteria?
  - The end of today
Session 3—Measurement, presentation and disclosure
- Learning objectives
- Busy afternoon
- Ready to help Hung?
- Review the learning session
  - Measurement of the elements
  - Categories of measurement bases
  - Information provided by measurement bases
  - Factors to consider
  - Presentation and disclosure concepts
  - Statement of profit or loss
  - Other comprehensive income
  - Summary
- Review the scenario
  - Describing the measurement bases
  - A successful workshop
  - An appropriate measurement basis
  - Goodbye Vietnam!
Final assessment
- Assessment instructions
- Disclaimer