The book “Accounting for Equity and Other Comprehensive Income: Dual Reporting Under U.S. GAAP and IFRSs”, by Francesco Bellandi, CPA, CA, ACCADipIFR, MBA, Sapienza Rome State University Press is now available on-line at at Dualgaap.com or Casalini.com. Paperback purchases can be ordered at redazionecasaeditrice@uniroma1.it.

This book examines and compares the reporting of stockholders’ equity as required by U.S. GAAP, SEC rules and regulations, and IFRSs (International Financial Reporting Standards), including proposed Exposure Drafts, Discussion Papers and relevant convergence efforts of the FASB and the IASB. The book also identifies grey areas and practical implementation issues, the major implications for companies and resolution of issues that practitioners are likely to encounter. The book also includes the concept of defense of legal capital and appropriations of retained earnings in certain jurisdictions, the accounting for each caption of the equity section of the statement of financial position, retained earnings and additional paid-in capital, the concept and mechanics of recycling, other comprehensive income, taxes on equity items, the formatting of the related statements and enforcement decisions by exchange securities regulators.

Finally, it brings these suggestions together in a proposed overall approach to equity. This model gives a consistent response to the other comprehensive income dilemma, preserves the clean-surplus concept of income, develops from capital maintenance concepts, enhances the “quality of earnings” and the “quality of equity”, and at the same time does not violate jurisdictional corporate governance and defense of capital frameworks.

 

 

TABLE OF CONTENTS

 

I. INTRODUCTION AND SCOPE OF BOOK
  A. Nature of Accounting Literature and Pertinent Pronouncements
  B. Perspectives and Major Implications of the Concept of Equity
  C. The Concept of Other Comprehensive Income 
  D. The Financial Statement Presentation Project
    1. Project History
    2. Scope and Objectives of the Project
    3. Working Principles
      a. Cohesiveness
      b. Categorization
      c. Liquidity
      d. Measurement
      e. Disaggregation
      f. Cash Flow Assessment
      g. Objectives of Financial Statement Presentation in the Discussion Paper
    4. Interrelationships and Conflicts among Working Principles
    5. Link to the Topic of This Book
  E. Main Interrelationships with Other Projects
  F. Significance of Equity
  G. Scope of Book

 

II. VIEWS ON EQUITY AND IMPLICATIONS
  A. Terminology and Definitions of Terms
    1. Equity
    2. Equity Owners
      a. Shareholders
      b. Owners
      c. Equity Holders
      d. Beneficiaries
      e. Equity Investors
      f. Equity Participants
      g. Interchangeability, Inconsistency, and Dissimilarity
    3. Equity Instruments
    4. Equity Interest
      a. Residual Interest
        (1) Definition of Residual Interest
        (2) Implications of the Residual Interest Model
        (3) The Balance Sheet Approach
      b. Ownership Interest
        (4) Ownership Versus Residual Interest
        (5) The Invested and Earned Equity Model
      c. Economic Interest
      d. Voting Interest
      e. Controlling Financial Interest
      f. Variable Interest
  B. Basic Characteristics of Equity
    1. Ownership Rights
    2. Dependency on an Entity’s Dynamics
    3. Risks and Rewards of Ownership
    4. Subordination
    5. Discretion on Distributions to Owners
  C. Major Implications for Companies
    1. Financial Impact
      a. Financial Statement Performance
      b. Taxation
      c. Financial Analysis
    2. Strategic Impact
      a. International Expansion
      b. Board Decisions
      c. Top Management Role
    3. Business Processes Impact
    4. Implementation Considerations
      a. Migration Project Management
      b. Accounting Procedures
      c. Management Reporting Systems
      d. Information Systems
      e. Internal Control
      f. Auditing
      g. Human Resources
      h. Communication and Investor Relationship
 

III. RESERVES
  A. Terminology and Definitions of Terms
    1. U.S. GAAP Terminology and Practice
    2. IFRSs Terminology
  B. Reconciliation
    1. Reserves Versus Provisions
    2. Reserves Versus Other Components of Equity
    3. Reserves Versus Additional Paid-In Capital
    4. Reserves Versus Other Comprehensive Income
    5. Reserves Versus Retained Earnings
  C. Types of Reserves
  D. Tracking of Equity
  E. Function of Reserves
    1. Sources of Equity
    2. Defense of Legal Capital
      a. The Concept of Defense of Legal Capital
      b. Implications of Defense of Legal Capital
      c. Defense of Legal Capital versus Capital Maintenance
      d. Defense of Legal Capital and Other Comprehensive Income
    3. Appropriations of Retained Earnings
      a. Accounting for Appropriations
      b. Sources of Appropriations
      c. Are Income Taxes a Form of Appropriation?
      d. Appropriations Versus Defense of Capital
    4. Influence of Taxation
    5. The IFRSs Approach
  F. IFRS Implementation in Some Jurisdictions
    1. Do IFRSs Require Specific Reserves?
    2. Does the IFRS First-Time Adoption of IFRSs Affect the Use of Previously-Existing Reserves?
    3. Merger Relief
    4. Merger Reserve Arising from Pooling of Interests
    5. Goodwill Displayed as a Reserve
    6. What Disclosure of Reserves is Required Under IFRSs?
    7. Have Specific Display Requirements Been Introduced for the Reserves Required by IFRSs?
    8. Did New Reserves Arise from The Implementation of IFRS?
    9. Can Newly-Established Reserves Be Used for Deficit Reorganization?
  10. Can Newly-Established Reserves Be Used to Offset a Deficit Arising from the First-Time Adoption of IFRS?
  11. Does a Deficit in Retained Earnings That Has Originated from the First-Time Adoption of IFRSs Call for Deficit Reorganization?
  12. Distributability of Preacquisition Profits
  13. Implications of Reserves Appropriated for Tax Reasons
  G. Conservatism, True-and-Fair View and Investors’ Protection
  H. Perspectives and Alternative Models
    1. Defense of Capital Versus Financial Performance
    2. Appropriations as an Alternative To Recycling

 

IV. EQUITY SECTION OF THE STATEMENT OF FINANCIAL  

      POSITION
  A. Terminology and Definition of Terms
    1. Shareholders’ Versus Stockholders’ Versus Owners’ Equity
    2. Net Assets Versus Equity
    3. Capital Versus Equity
    4. Liabilities and Stockholders’ Equity Versus Equity
  B. Single- Versus Multi-Step Equity Section
  C. Noncontrolling Interest
    1. Terminology
    2. Noncontrolling Interest and Consolidation Theories
    3. Presentation of Noncontrolling Interest
    4. Computation of Noncontrolling Interest
  D. Other Classifications in Temporary Equity
  E. Layout of the Equity Section of the Statement of Financial Position
    1. Minimum Line-Item Display Requirements
    2. Contributed Capital
    3. Classification of Equity Instruments by Manner of Issuance
    4. Sequence of Display
    5. Sorting Order
    6. Parenthetical Explanation
    7. Sub classifications on the Face of the Statement of Financial Position and Disclosures in the Notes
  F. Capital Disclosures
  G. Equity of Partnerships and Similar Entities
  H. Net Assets of Entities with No Contributed Equity or with Owners’ Interest that Is Both Equity and Liabilities
  I. Discount on Issuance
  J. Increasing Rate Preferred Stock
  K. Equity Issuance Costs
  L. Subscriptions Receivable
  M. Shares Issued in Exchange for a Note Receivable
  N. Treasury Stock
    1. Terminology
    2. Gains or Losses on Treasury Stock Transactions
    3. Whether or Not Treasury Stock is an Asset
    4. Relationship between Treasury Stock and Share-Based Payment Transactions
    5. Accounting Methods
    6. Presentation of Treasury Stock
    7. Disclosure of Treasury Stock
    8. Shares of the Parent Held by a Subsidiary
    9. Shares of an Investor Held by Its Associate
  10. Purchase or Sale of Treasury Shares by a Subsidiary

 

V. ADDITIONAL PAID-IN CAPITAL
  A. Terminology
  B. Additional Paid-In Capital versus Other Paid-In Capital Accounts
    1. Paid-In Capital – Treasury Stock
    2. Paid-In Capital – Forfeiture of Stock Subscription
    3. Paid-In Capital – Quasi-Reorganization
    4. Paid-In Capital – Stock Dividend
    5. Paid-In Capital – Conversion of Convertible Debt
    6. Paid-In Capital – Warrants
    7. Paid-In Capital – Unexercised Premium Put
    8. Paid-In Capital – Beneficial Conversion
    9. Paid-In Capital – Modified Conversion Terms
  10. Paid-In Capital – Stock Options Outstanding
  11. Paid-In Capital – Clawback in a Share-Based Payment Transaction
  12. Paid-In Capital – Undistributed Earnings of an S Corporation
  13. Paid-In Capital – In-Substance Capital Contributions
  14. Paid-In Capital – Transaction Costs
  15. Paid-In Capital – Certain Preferred Stock
  16. Paid-In Capital – Acquired Interest in a Controlled Subsidiary
  17. Paid-In Capital – Income Tax Impact
  C. Presentation of Additional Paid-in Capital
  D. The Capital Surplus Model

 

VI. RETAINED EARNINGS
  A. Terminology and Definitions of Terms
    1. Terminology
    2. Definitions
    3. Relationship to Earnings
    4. Relationship to Equity Reserves
  B. Basic Principle of Retained Earnings
  C. Categorization of Items That May Affect Retained Earnings
  D. Items That May Directly Affect the Beginning Balance of Retained Earnings
    1. Retrospective Approach: General Considerations
    2. Corrections of Errors
    3. Changes in Accounting Principles
    4. Changes Arising from First-Time Adoption of a Comprehensive Basis of Accounting
    5. Changes in Reporting Entity
    6. Prior Period Adjustments of an Associate
    7. Prior Period Adjustments of a Development Stage Subsidiary
    8. Prior Period Adjustments of an Investment That Is Classified as Held for Sale
    9. Consolidation Adjustments of Beginning Retained Earnings
  10. Reclassification of Investment Property
  11. Measurement of Servicing Assets and Liabilities at Fair Value
  12. Available-for-Sale Securities Designated as Offset of Changes in Fair Value of Servicing Assets or Liabilities
  13. Fair Value Measurements
  14. First-Time Classification as Available-for-Sale Investments
  15. Other-Than-Temporary Impairment of Certain Debt Securities
  16. Changes in Decommissioning, Restoration and Similar Liabilities
  17. Defined Pension and Other Postretirement Plans
  18. Leases
  19. Compound Financial Instruments
  20. Share-Based Payments
  21. Past Business Combinations
  22. Cumulative Translation Adjustment
  23. Hyperinflation
  24. Negative Goodwill
  25. Provisions and Contingent Liabilities
  26. Initial Adjustments Arising from the Application of IFRIC 14
  27. Income Taxes (Exposure Draft)
  E. Items That May Affect the Ending Balance of Retained Earnings
    1. Cumulative-Type Effect Adjustment under Catch-up Method
    2. Difference in Redemption Value of Mandatorily Redeemable Shares
    3. Quasi-Reorganizations
    4. Increasing Rate Preferred Stock
    5. Redeemable Preferred Stock whose Redemption Is Outside Issuer’s Control
    6. Treasury Stock
    7. Appropriations of Retained Earnings
    8. Capitalization of Retained Earnings
    9. Changes in Redemption Value of Basic Ownership Instruments and Components with Redemption Requirements
  F. Direct Transfer to/from Retained Earnings without Passing through Profit or Loss
    1. Transfer of Revaluation Surplus to Retained Earnings
    2. Transfer of Owner-Occupied Property to Investment Property
    3. Impairment of Fixed Assets Carried at Valuation
    4. Changes in Revaluation Surplus Arising from Changes in Decommissioning and Similar Liabilities
    5. Transfer of Accumulated Other Comprehensive Income to Retained Earnings
    6. Immediate Transfer of Certain Gains or Losses on Defined Benefit Plans to Retained Earnings
  G. Income Tax Relating to Transactions That Directly Affect Retained Earnings
  H. Presentation and Disclosure of Retained Earnings
    1. Presentation in the Statement of Financial Position
    2. Reconciling Changes in Retained Earnings
    3. The Statement of Retained Earnings
    4. The Combined Statement of Income and Retained Earnings
    5. Development Stage Enterprises
    6. Additional Disclosures of Retained Earnings
  I. Towards a Theory of Retained Earnings

 

VII. OTHER COMPREHENSIVE INCOME
  A. Terminology
    1. Comprehensive Income Versus Total Recognized Income and Expense
    2. Other Comprehensive Income Versus Income and Expense Recognized Directly in Equity
    3. Comprehensive Income Versus Earnings
    4. Comprehensive Income Versus Profits
    5. Accumulated Other Comprehensive Income
    6. Financial Performance Measured by Accrual Accounting
  B. Definitions of Terms
    1. Definition of Comprehensive Income
    2. Definition of Other Comprehensive Income
    3. Comprehensive Income as an Element of the Financial Statements
    4. Computation of Comprehensive Income
  C. The All-inclusive or Clean-Surplus Concept of Income
    1. Definition of the Clean-Surplus Concept of Income
    2. Pros and Cons of the Clean-Surplus Concept
    3. Departures from the Clean-Surplus Concept
  D. Purpose of Reporting Income and Its Components
    1. Purpose of Reporting Net Income
    2. Purpose of Reporting Earnings
    3. Purpose of Reporting Other Comprehensive Income
    4. Purpose of Reporting Comprehensive Income
  E. Linkage to Theories of Performance
    1. Definition of Performance
    2. Economic Versus Financial Performance
    3. Specific Relationships with the Financial Statement Presentation Project
    4. Non-GAAP Financial Measures
    5. Primary Focus of Financial Reporting
    6. Balance Sheet Versus Income-and-Expense View
    7. Impact of Other Comprehensive Income on Defense of Capital
  F. Linkage with Capital Maintenance Concepts
    1. Definition of Capital Maintenance
    2. Primary Versus Supplementary Financial Reporting
    3. Capital Maintenance Adjustments
    4. Return on Capital Versus Return of Capital
    5. Economic Income
  G. The Other Comprehensive Income Dilemma
    1. Rationale for Alternative Recognition Models
    2. Interaction with Measurement Models
    3. Quasi-Recycling
    4. Direct Transfer to Retained Earnings
    5. Appropriations or Equity Reserves
  H. Recycling
    1. Definition
    2. Meaning of Recycling
    3. Classification of Recycling
  I. Reporting Comprehensive Income and Other Comprehensive Income
    1. Reporting Alternatives
    2. Single Versus Two-Statement Approach
    3. Display Requirements
    4. Designing for Dual-Reporting Equivalent Statement of Changes in Equity
    5. Designing for Dual-Reporting Equivalent Statement of Comprehensive Income
    6. Cumulative Accounting Adjustments
    7. Attribution to Controlling and Noncontrolling Interests
    8. Prominence of Presentation
    9. Reclassification Adjustments
  10. Gross- Versus Net-of-Tax Display
  11. Other Inputs from the Financial Statement Presentation Project
  J. Foreign Currency Translation Adjustment
    1. The Reporting Currency Issue in an International Context
    2. Foreign Currency Translation Methods
    3. Impact on Other Comprehensive Income
    4. The Concept of Net Investment
    5. Recycling
    6. Separate and Entity’s Financial Statements
    7. Computation of the Currency Translation Adjustment
    8. Disclosures
    9. Specific Relationships with the Financial Statement Presentation Project
  K. Certain Long-Term Items
    1. Long-Term Items that Are in Substance Part of a Net Investment in Foreign Operations
    2. Long-Term Interests that Are In Substance Part of a Net Investment in an Associate
  L. Highly Inflationary Economies
  M. Hedges of a Net Investment in Foreign Operations
  N. Available-for-Sale Investments
    1. Unrealized Holding Gains or Losses on Available-for-Sale Investments
    2. Foreign Exchange Differences on Available-for-Sale Investments
    3. Available-for-Sale Investments under Hedge Accounting
    4. Impairment of an Available-for-Sale Financial Asset
    5. Acquisition of Control
  O. Cash Flow Hedges
    1. Impact on Other Comprehensive Income
    2. Basis Adjustment
  P. Revaluation Model
    1. Revaluation Surplus
    2. Exchange Differences on Nonmonetary Items
    3. Impairments of Fixed Assets Carried at Valuation
    4. Changes in an Existing Decommissioning Liability
  Q. Consolidation, Deconsolidation and Change in Interest in an Investment
    1. Disposal or Loss of Control of a Subsidiary
    2. Changes in a Parent’s Interest in a Subsidiary
    3. Loss of Significant Influence of an Associate and Loss of Joint Control of a Jointly-Controlled Entity
    4. Changes in an Interest in an Associate or a Jointly-Controlled Entity
    5. Classification as Noncurrent Assets Held for Sale
    6. Associate’s Other Comprehensive Income
    7. Companies That Have All Shares Subject to Mandatory Redemption
  R. Pension Accounting
    1. Impact of Pension Accounting on Other Comprehensive Income
    2. Minimum Pension Liability
    3. The IAS 19 Model for Actuarial Gains and Losses and Adjustment for Asset Ceiling
  S. Strategic Investments (Exposure Draft)
  T. Towards a Comprehensive Model of Equity and Other Comprehensive Income

 

VIII. PRESENTATION OF TAXES ON EQUITY ITEMS
  A. Intraperiod Tax Allocation to Equity
    1. Definition of Intraperiod Tax Allocation
    2. Initial Recognition Versus Backwards Tracing
    3. Allocation Rules
  B. Income Tax Recognized in Equity
    1. General Rules
    2. Tax Benefits of an Operating Loss Carryforward and Carryback
    3. Certain Transactions with or Among Shareholders
    4. Changes in Tax Laws and Tax Status
    5. Income Tax on Equity Issuing Costs
    6. Income Tax on Compound Instruments
    7. Income Tax on a Beneficial Conversion Feature
    8. Income Tax on Share-Based Payment Transactions
    9. Tax on Corrections of Errors and Changes in Accounting Principles
  10. Income Tax Impact from IFRS First-Time Adoption
  11. Income Tax on Temporary Differences at the Date of a Quasi-Reorganization
  12. Tax on Items of Other Comprehensive Income
  13. Tax on Revaluation Surplus
  14. Income Tax on Foreign Currency Translation Adjustment
  15. Deferred Tax on Foreign Nonmonetary Assets and Liabilities
  16. Income Tax in Highly Inflationary Economies
  17. Income Tax on Dividends
      a. Classification of Income Tax on Dividends
      b. Withholding Tax on Dividends
      c. Tax-Deductible Dividends
      d. Undistributed Versus Distributed Earnings Tax Rates
      e. Income Tax on Dividends on ESOP Shares
  18. Presentation of Income Tax
  19. Other Disclosures of Income Tax Allocated To Equity

 

IX. TABLE OF WORKSHEETS

 

X. BIBLIOGRAPHY
 
 
 
 
 

 

INDEX

 

TABLE OF WORKSHEETS

 

Worksheet   1: Interrelationships and Conflicts among Working Principles of the Financial Statement Presentation Project
Worksheet   2: Main Points of Contact with the Financial Statement Presentation Project
Worksheet   3: Residual Interest and Invested and Earned Equity Models
Worksheet   4: Sample of Implications of Balance Sheet Approach Versus Other Views
Worksheet   5: Relationships Between Changes in Equity, Residual Interest, and Ownership Interest
Worksheet   6: Use of Options Allowed by EC Regulation 1606/2002
Worksheet   7: Use of IFRSs in Non-EU Countries
Worksheet   8: Endorsement of IFRSs by the European Commission
Worksheet   9: EC Regulation 1606/2002: Alternatives for U.S. Companies
Worksheet 10: Alternatives, According to U.S. Requirements, for a U.S. Entity That Reports under IFRSs
Worksheet 11: Alternatives for Non-U.S. Entities That Report in the U.S.
Worksheet 12: IFRSs Accounting Options That Directly Involve Other Comprehensive Income or Stockholders’ Equity
Worksheet 13: GAAP Transition Management Check List
Worksheet 14: General Check List for Accounting Implications of GAAP Transition
Worksheet 15: Check List for Impact of GAAP Transition on Information Systems
Worksheet 16: Check List of Human Resources Implications of GAAP Transition
Worksheet 17: Classification of Reserves for Financial Reporting Purposes in Italy
Worksheet 18: Basic Format and Basic Forms of the Statement of Financial Position
Worksheet 19: Noncontrolling Interest and Determination of Goodwill
Worksheet 20: Requirements for Separate Minimum Display on the Face of the Equity Section of the Statement of Financial Position
Worksheet 21: Sorting Orders of the Statement of Financial Position
Worksheet 22: Equity Disclosures
Worksheet 23: Illustrative Reporting of Net Assets and Changes Thereof for Entities Whose Share Capital Is Not Equity under IAS 32
Worksheet 24: Illustrative Reporting of Net Assets for Entities Whose Share Capital Is Not Equity under FASB Statement No. 150
Worksheet 25: Flow Chart on Classification of Contracts Indexed to, and Potentially Settled in, the Issuer’s Own Stock under U.S. GAAP
Worksheet 26: Accounting for Treasury Stock Transactions under U.S.
Worksheet 27: Treasury Stock Disclosures
Worksheet 28: Convertible Debt
Worksheet 29: Impact of Methods of Accounting for Convertible Debt
Worksheet 30: Detachable Warrants
Worksheet 31: Alternative Displays of Additional Paid-In Capital under U.S. GAAP
Worksheet 32 General Working Model of Retained Earnings
Worksheet 33: Retroactive Restatement for Correction of Errors
Worksheet 34: Retroactive Application of Changes in Accounting Principles
Worksheet 35: Return to Equity Method Under U.S. GAAP
Worksheet 36: IFRS 1 Exemption of Past Business Combinations
Worksheet 37: Transfers Among Categories Under IAS 40
Worksheet 38: Impairment of Fixed Assets Carried at Valuation
Worksheet 39: Disaggregation and Aggregation of Statements that Affect the Presentation of Retained Earnings
Worksheet 40: Sample Statement of Retained Earnings Under U.S. GAAP
Worksheet 41: Sample Combined Statement of Income and Retained Earnings Under U.S. GAAP
Worksheet 42: Pros and Cons of the Clean-Surplus Concept of Income
Worksheet 43: Characteristics of Net Income, Earnings, Other Comprehensive Income, and Comprehensive Income
Worksheet 44: Capital Maintenance Adjustments
Worksheet 45: The Other Comprehensive Income Dilemma
Worksheet 46: Recognition Models of Gains and Losses Arising from Changes in Value of Assets and Liabilities
Worksheet 47: Classification of Recycling and Transferring of Other Comprehensive Income
Worksheet 48: Items That Are Recognized in Other Comprehensive Income – No Statement Mentioned (List No. 1)
Worksheet 49: Items That Are Recognized in Other Comprehensive Income – A Statement Mentioned (List No. 2)
Worksheet 50: Basis Adjustment (List No. 3)
Worksheet 51: Items That Are Recognized in Other Comprehensive Income and Not Recycled (List No. 4)
Worksheet 52: Items That Are Recognized in the Statement of Comprehensive Income with Immediate Transfer to Retained Earnings (List No. 5)
Worksheet 53: Items That Are Recognized Under a Special Heading “Revaluation Surplus” and That May Be Transferred Directly to Retained Earnings (List No. 6)
Worksheet 54: Other Transfers from Other Comprehensive Income to the Opening Balance of Retained Earnings Based on Transitional Provisions (List No. 7)
Worksheet 55: Items That May Directly Affect More than One Component of Equity (List No. 8, Not All-Inclusive)
Worksheet 56: Alternative Structures for Presenting Net Income and Comprehensive Income Under U.S. GAAP
Worksheet 57: Display Requirements for Other Comprehensive Income and Comprehensive Income Under U.S. GAAP
Worksheet 58: Display Requirements for Other Comprehensive Income and Comprehensive Income Under IFRSs
Worksheet 59: Display Requirements for Other Comprehensive Income and Comprehensive Income Under IFRSs Prior to the Amendments by the 2007 Revision of IAS 1
Worksheet 60: Sample formats of the Statement of Changes in Equity Under U.S. GAAP
Worksheet 61: U.S. GAAP-Equivalent Design of the Statement of Changes in Equity Under IFRSs
Worksheet 62: U.S. GAAP-Equivalent Design of the Statement of Changes in Equity Under IFRSs Prior to the Amendments by the 2007 Revision of IAS 1
Worksheet 63: Statement of Comprehensive Income
Worksheet 64: U.S. GAAP-Equivalent Design of the Statement of Recognized Income and Expense Under IFRSs Prior to the Amendments by the 2007 Revision of IAS 1
Worksheet 65: Gross-of-Tax Versus Net-of-Tax Presentation of Other Comprehensive Income
Worksheet 66: Layout Dimensions of the Financial Statements
Worksheet 67: Presentation Currency Options in an International Context
Worksheet 68: Summary of Concepts Related to Foreign Currency Translation
Worksheet 69: Financial Reporting in Highly Inflationary Economies
Worksheet 70: Change in Functional Currency
Worksheet 71: Foreign Exchange Differences on Available-for-Sale Financial Assets
Worksheet 72: Basis Adjustment in a Cash Flow Hedge
Worksheet 73: Accounting for Asset Revaluations
Worksheet 74: Recognition of a Reversal of Impairment Loss
Worksheet 75: Deconsolidation and Changes in Interest in an Investment
Worksheet 76: Alternative Models of Equity and Comprehensive Income
Worksheet 77: Deferred Taxes on Equity-Settled Share-Based Payment Transactions
Worksheet 78: Tax on Revaluation Surplus under IAS 12
Worksheet 79: Income Taxes on Intercompany Dividends
Worksheet 80: Principal Accounting Pronouncements Relating to Equity and Comprehensive Income
Worksheet 81: Principal Acronyms and Abbreviations Used