Liability update

Which one of these standards does not cover liabilities?

IAS 38

IAS 37

IAS 32

IAS 1

How would issued warrants with fixed consideration for a fixed number initially be recorded?

In equity

Using split accounting

In liabilities

In assets

How would issued warrants with variable consideration initially be recorded?

Split accounting

In assets

In equity

In liabilities

Which, if any, of the following items on the workplan could affect the presentation of liabilities? Area 1 - Financial instruments with characteristics of equity, or Area 2 - Primary financial statements

Both areas

Area 1 only

Area 2 only

Neither area

What was the decision regarding warrants which subsequently meet the fixed for fixed criteria?

A new standard will be issued

A discussion paper was issued to gather feedback

No decision was made

These will now be reclassified to equity

What is the next step in the Financial Instruments with Characteristics of Equity project?

Issue a new standard

Issue a discussion paper

The project is being ceased

Issue an exposure draft

What is the tentative decision regarding liabilities with conditions attached?

No change proposed

Increase disclosures but no other changes

Amend IAS 32

Amend IAS 1

Which, if any, of the following statements is correct? Statement 1 - Liabilities with conditions attached should not be included in the balance sheet, or Statement 2 - Liabilities with conditions attached are the subject of a new IFRS being developed

Statement 1 only is correct

Neither statement is correct

Both statements are correct

Statement 2 only is correct

What other change is proposed under the Primary Financial Statements project?

Removing Other Comprehensive Income

No other changes proposed

Recording issue costs on all items in the statement of profit or loss

Introducing a new 'income/expenses from investments' section in the statement of profit or loss

Which, if any, of the following statements is/are true? Statement 1 - A new line item is proposed in the balance sheet regarding liabilities with conditions, or Statement 2 - Extended disclosures are proposed regarding liabilities with conditions

Statement 2 only

Both statements

Statement 1 only

Neither statement

Which one of these standards does not cover liabilities?

How would issued warrants with fixed consideration for a fixed number initially be recorded?

How would issued warrants with variable consideration initially be recorded?

Which, if any, of the following items on the workplan could affect the presentation of liabilities? Area 1 - Financial instruments with characteristics of equity, or Area 2 - Primary financial statements

What was the decision regarding warrants which subsequently meet the fixed for fixed criteria?

What is the next step in the Financial Instruments with Characteristics of Equity project?

What is the tentative decision regarding liabilities with conditions attached?

Which, if any, of the following statements is correct? Statement 1 - Liabilities with conditions attached should not be included in the balance sheet, or Statement 2 - Liabilities with conditions attached are the subject of a new IFRS being developed

What other change is proposed under the Primary Financial Statements project?

Which, if any, of the following statements is/are true? Statement 1 - A new line item is proposed in the balance sheet regarding liabilities with conditions, or Statement 2 - Extended disclosures are proposed regarding liabilities with conditions

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