IASB's annual improvements project

Which of the following explains a qualifying asset in relation to IAS 23 Borrowing Costs?

An asset which can be classified within non-current assets

An asset which takes a substantial period of time to get ready for use

An asset which obtains significant capital allowances

An asset which has had loan finance raised for its acquisition

How should borrowing costs on funds borrowed specifically for a qualifying asset be capitalised?

The total borrowing costs incurred during the useful life of the asset

The actual borrowing costs incurred during the construction period, ignoring any temporary investment income earned

The weighted average cost of borrowing

Actual borrowing costs incurred, less temporary investment income earned

When should borrowing costs cease to be capitalised?

When the asset is ready for use

At the end of the useful life of the asset

When the borrowings are repaid

After the first 12 months

What is the proposal for funds which have been specifically borrowed for a qualifying asset which is now complete?

None of the these

These borrowings should be excluded from any future calculations of both specific and general borrowings

The funds are included in the general pool of borrowings for the calculation of the weighted average cost of borrowing

The specific cost of these borrowings should be rolled over onto a new investment when a new qualifying asset is acquired

Which of the following items is the IASB is the focus of the proposed amendment to IAS 12?

Gains recognised in other comprehensive income

Share-based payments

Distributions of profits

Future pension liabilities

How should investments in associates and joint ventures be accounted for currently?

Equity accounting

Historical cost

Fair value through profit or loss

Amortised cost

Which of these is proposed to be accounted for under the principles of IFRS 9 Financial Instruments?

Gross interest in associates

Items held under equity accounting

Long-term interests

Goodwill

Which, if any, of the following statements is correct? Statement 1 - the proposed change to IAS 12 states that all payments on financial instruments classified as equity should be recorded in profit or loss; or statement 2 - there is a rebuttable presumption that all items in other comprehensive income can be recycled into the statement of profit or loss

Statement 2 only is correct

Statement 1 only is correct

Neither statement is correct

Both statements are correct

Which of these models will be applied to impairments under IFRS 9 Financial Instruments?

Present value

Contingent consideration model

Expected credit loss model

Value in use model

Which of these remains a largely unanswered concern of commenters following the proposed update to IAS 12?

Where to recognise the tax on items recorded through other comprehensive income

How the tax on the distributable profits is calculated

How to identify whether an item is a distribution of profit or not

Where to recognise the tax on distributable profits

IASB's annual improvements project

Which of the following explains a qualifying asset in relation to IAS 23 Borrowing Costs?

How should borrowing costs on funds borrowed specifically for a qualifying asset be capitalised?

When should borrowing costs cease to be capitalised?

What is the proposal for funds which have been specifically borrowed for a qualifying asset which is now complete?

Which of the following items is the IASB is the focus of the proposed amendment to IAS 12?

How should investments in associates and joint ventures be accounted for currently?

Which of these is proposed to be accounted for under the principles of IFRS 9 Financial Instruments?

Which of these models will be applied to impairments under IFRS 9 Financial Instruments?

Which of these remains a largely unanswered concern of commenters following the proposed update to IAS 12?

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IASB's annual improvements project

Which of the following explains a qualifying asset in relation to IAS 23 Borrowing Costs?

How should borrowing costs on funds borrowed specifically for a qualifying asset be capitalised?

When should borrowing costs cease to be capitalised?

What is the proposal for funds which have been specifically borrowed for a qualifying asset which is now complete?

Which of the following items is the IASB is the focus of the proposed amendment to IAS 12?

How should investments in associates and joint ventures be accounted for currently?

Which of these is proposed to be accounted for under the principles of IFRS 9 Financial Instruments?

Which of these models will be applied to impairments under IFRS 9 Financial Instruments?

Which of these remains a largely unanswered concern of commenters following the proposed update to IAS 12?

You scored

0

out of

0

Test passed. Enter your details to download your certificate. Your certificate will also be sent to you by email.

Related topics

Our sites

Useful links

Using this site

Contact us

Planned system updates