Financial Reporting

ASPE, IFRS, NPO, Consolidations

8 cards·by suzvicmae

npoifrsaspe

name the 7 indicators of impairment of goodwill

key personal, competition, action by regulator, legal factors, plan to sell or dispose, write down of asset group, write down of GW in sub

4 steps to B/S consolidation

1. calculate goodwill 2.non-controlling interest 3.consolidate RE, 4.eliminated intercompany balances and interco unrealized gain or loss

3 steps to I/S consolidation

1. combine revenue and expenses 2. eliminate interco transactions 3. non-controlling interest

contributions receivable recognition criteria

reasonably estimated and collectible

5 ways to assess reasonable collectible

1. eco conditions 2.goodwill of pledger 3.ability to pay 4.time till pledge due 5.historical support

capital asset criteria

1. held for use in normal business 2. intend to use on continuing basis 3.not intended for sale 4. not held as part of collection

donated goods and services criteria

1. FV reasonably estimated 2. used in normal course of business 3. would otherwise have been purchased

NPO accounting methods

restricted method - reported by fund Deferral method - funds are deferred until expenses are incurred