Financial statement change

What is the proposed outcome of the exposure draft?

To replace IAS 12

To replace IAS 1

To result in an interpretive document

To become an agenda decision

What is the central theme for the IASB?

Better communication in financial reporting

Increasingly robust accounting practices

Consistent accuracy in standard setting

Improved integration globally

Which of these is a new subtotal being proposed?

Recurring profits

Operating profit

EBIT

EBITDA

Which, if any, of the following statements are true? Statement 1 - The operating profit will include income/expenses from investments that are part of the main activities of the business, or Statement 2 - The operating profit will include income/expenses from financing activities that are part of the main activities of the business

Statement 1 only

Both statements

Neither statement

Statement 2 only

Which of these statements would not be affected by the proposed changes in relation to associates and joint ventures?

Statement of changes in equity

Statement of cash flows

Statement of profit or loss

Statement of financial position

Under the proposals, where will interest paid by shown in the statement of cash flows?

Investing activities

Either financing or operating activities

Operating activities

Financing activities

What is the proposed change in relation to the cash flows from operating activities?

The indirect method should start from profit before tax

The indirect method should start from operating profit

The indirect method only must be used

The direct method only must be used

Which, if any, of the following statements is correct? Statement 1 - Entities can no longer identify items as unusual items, or Statement 2 - Entities can no longer use management performance measures in their annual report

Statement 2 only is correct

Both statements are correct

Neither statement is correct

Statement 1 only is correct

Which of the following relates to the proposed treatment for management performance measures?

None of these

They must be shown as a separate subtotal in the financial statements

They must be reconciled to the closest IFRS subtotal

They are no longer allowed

Which, if any, of the following statements is/are true? Statement 1 - Investment income and finance costs will no longer exist as line headings in the statement of profit or loss, or Statement 2 - Integral associates will need to be shown separately from non-integral ones

Neither statement

Statement 2 only

Statement 1 only

Both statements

Financial statement change

What is the proposed outcome of the exposure draft?

What is the central theme for the IASB?

Which of these is a new subtotal being proposed?

Which of these statements would not be affected by the proposed changes in relation to associates and joint ventures?

Under the proposals, where will interest paid by shown in the statement of cash flows?

What is the proposed change in relation to the cash flows from operating activities?

Which, if any, of the following statements is correct? Statement 1 - Entities can no longer identify items as unusual items, or Statement 2 - Entities can no longer use management performance measures in their annual report

Which of the following relates to the proposed treatment for management performance measures?

Which, if any, of the following statements is/are true? Statement 1 - Investment income and finance costs will no longer exist as line headings in the statement of profit or loss, or Statement 2 - Integral associates will need to be shown separately from non-integral ones

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