IAS 1 performance financial statements

Summary of IAS 1

Standard objectives:

IFRS 1 was designed to ensure comparabilityfinancial statements.

The comparability implies comparability with the reporting of other companies and the comparability of reporting directly by the company itself for previous periods.

Application area:

IFRS 1 applies to:

• - Commercial companies
• - State organizations working in order to profit
• -Banks, insurance companies and other financial institutions.

The standard is applied both in relation to each individual company and the consolidated reporting of the Group.

IFRS 1. not applicable To prepare the interim reporting (for interim reports, IFRS 34 has been developed) and other special-purpose financial statements (prospectuses)

General provisions of IFRS 1:

1. Reporting must be granted to reliably and comply with IFRS standards.

The company's reporting should reliably reflect the real financial position of the company. Information in the financial statements must be understandable to users and consistent.

The retreat from SNADARTS IFRS is allowed in extremely rare cases, if any standard compliance may be misleading users. In this case, the statements should indicate:

• -Fact standard violation;
• - Violation of the standard;
• -The presence of the retreat from the standard on the company's financial performance (it is also necessary to indicate the financial indicators that would result in the standard of compliance with the standard.

If any standard is violated in case of extreme necessity, the reporting corresponds to IFRS standards.

2. Continuity of activity

If there are non-source factors regarding the company's activities in the future, they must be disclosed in the reporting.

3. Accounting by calculation method

Assets, obligations, income and expenses are subject to recognition when they arise (and not as cash flow) and are reflected in the reporting in the period to which they relate. This rule does not apply to the cash flow report.

4. Significance and aggregation

Information should be disclosed if it is essential (if it can influence the economic solution of users accepted on the basis of financial statements).

Allowed information aggregation (for example, reflecting all amounts in millions of dollars)

5. Cretakes

Not allowed by asset and liabilities in addition to cases provided for by some standards (for example, IFRS 20 permits government subsidies).

6. Periodical preparation of financial statements

It is necessary to provide a complete set of financial statements annually.

If in exceptional cases, the reporting is provided for the period longer or shorter than the year, the company must indicate that the data is not comparable enough.

7. Wow for information

Each form of reporting must be provided at least in two periods.

If the data provided earlier changed (for example, a retrospective change in accounting policies - IAS (IAS) 8) must be provided, at least three reports on the financial position and two forms of other reporting.

If a descriptive information of the previous period is needed to understand the current reporting, it must be included in the current reporting.

8. Recommendation of the provision

The wording and classification of articles in reporting should be unchanged in all periods.

Changes are allowed only if they are necessary for a better understanding of events or operations, or if changes are required in accordance with any standard.

Structure and content of financial statements

In financial statements, the following information should be specified:

• -Noting of each report (for example, a cash flow statement)
• -Noting of the enterprise;
• -report date or period (depending on the reporting);
• - reporting;
• -unit;
• -In the reporting of a separate company or group.

Financial statements include five forms:

Cash Movement Report

In the previous article, we have already considered the elements of financial statements in accordance with IFRS, and also figured out its basic principles and preparation methods. This material is devoted directly to the main issues of work on reporting, as well as the requirements that prevent it. The main idea that international financial reporting standards and which affected the financial statements of companies - freedom in the design, standard and availability of information for any user. As precisely, we are expressed in the financial statements under IFRS, we are dealt with in the material below.

Composition of financial statements in accordance with IFRS

Recall that the preparation of IFRS reporting is performed in several ways: primary accounting and reporting transformation. Enterprises with subsidiaries are required to carry out the consolidation of financial statements.

The main standard that regulates the procedure for the formation of financial statements under IFRS performs IFRS (IAS) 1 "Representation of Financial Reporting". It defines the criteria for its compliance with the rules of IFRS, as well as the requirements for the materiality, continuity of activity, are the required components of financial statements, as well as the submission sequence. The standard contains recommendations for the preparation of each of the main reporting forms and establishes general requirements for recognizing and evaluating the reporting of subjects of operations.

Paragraph 8 of IFRS (IAS) 1 indicates the composition of the full set of financial statements, which includes:

• balance;
• gains and losses report;
• report on changes in its own capital, reflecting either all changes in its own capital, or changes in its own capital, differing from those resulting from the operations with the owners own capital (shareholders);
• report on cash flow;
• notes, including a brief description of the essential elements of accounting policies and other explanatory notes.

In addition to the above documents, the financial statements may include environmental protection reports, reports on value added and other additional reports that facilitate the work of users in making economic decisions.
The frequency of financial statements under IFRS is listed in paragraph 37 of IFRS (IAS) 1, which states that companies are allowed to draw up reporting for the period of 52 weeks (364 days). It is less than the calendar year (approximately 52.14 weeks), but more convenient for companies that make up reporting during this period.
Financial statements may also be formed for shorter periods. UFRS this period is 6 months. However, often such statements are for a shorter period, which increases the usefulness of financiality. Regardless of the complexity of operations conducted in the company, it is important that information about them is useful in financial statements.

IFRS Reporting Requirements

Name	General requirements for financial statements of IFRS
Fullness requirement	Information in financial statements should be complete taking into account the materiality and costs of its creation (p.38 principles of preparation and financial reporting).
Requirement of timeliness	The timely reflection of information in the reporting, taking into account the observance of the balance between the relevance and reliability of information (see paragraph 43 of the principles of preparation and financial reporting).
Requirement requirement	The requirement of diligence is set out in paragraph 37 of the principles of preparation and the preparation of financial statements.
The requirement of the priority of the content before the form	Operations and other events should be taken into account and presented in accordance with their essence and economic reality, and not only in accordance with the legal form (p.35 of the principles of preparation and financial statements).
Requirement of consistency	The requirement of consistency in IFRS is not defined.
Requirement of rationality	The requirement of rationality in respect of accounting in IFRS is not defined. At the same time, the principles of preparation and preparation of financial statements contain a provision on the need to comply with the balance between the benefits obtained from the information and the cost of its collection.

Representation of reporting

The presentation of financial statements in accordance with IFRS should be carried out in accordance with the requirements of IFRS (IAS) 1. Namely: such reporting should be useful for users should ensure comparability, both with reporting for other periods and with the reporting of other enterprises.
It is understood that financial statements are based on the continuous activity of the enterprise. The exceptions are cases where management plans to stop the trade activities of the enterprise or eliminate it if there are no alternative options for solving the situation. The guide is financial statements based on the principle of accrual, with the exception of information on cash flow.
There is no single set format for financial statements, but IAS 1 contains their examples, and requirements for reporting notes - they must disclose the minimum amount of information.
Financial statements discloses relevant information for the previous period, except in cases where IFRS or explanations allow or require otherwise.
Drawing up financial statements under IFRS responsible process, which requires specialists with detailed knowledge and skills. Many companies enjoy a simpler way to compile reporting under IFRS transformation.

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IFRS 1 "Representation of Financial Reporting"

About what is understood by international financial reporting standards (IFRS) and who must be used in our country, we told in our.

IFRS 1, besides it, paragraph 15-35, does not apply to the structure and content of the abbreviated interim financial statements, which is prepared in accordance with IFRS 34 "Interim Financial Reporting" (p. 4 of IFRS 1).

Appointment and composition of financial statements

The purpose of financial statements is the presentation of information on the financial situation, financial results and cash flows of the organization, which will be useful to a wide range of users when they are making economic decisions (p. 9 of IFRS 1).

In general, a complete set of financial statements includes (p. 10 IFRS 1):

• financial statement;
• report on profit or loss and other aggregate income;
• report on changes in own capital;
• report on cash flow for the period;
• notes (brief overview of significant accounting policies and other explanatory information).

In relation to each form of statements, IFRS 1 describes their structure and content.

General Aspects of Financial Reporting

IFRS 1 provides for the following features and requirements for the preparation of financial statements:

• reliable representation and compliance of IFRS;
• continuity of activity;
• accounting by the method of accrual;
• significance and aggregation;
• intercommunication;
• frequency of reporting;
• comparative information;
• presentation sequence.

Each of the specified aspects in IFRS 1 is disclosed in detail.

Introduction

In recent years, the content of financial statements, the procedure for its preparation and submission has undergone significant changes. The most obvious from these transformations is due to the transition of companies on IFRS ongoing worldwide. In many regions, IFRS has been used for several years, with the number of companies planning such a transition all the time increases. With the latest information on the transition of various countries with national accounting standards for IFRS, you can find on the website pwc.com/usifrs using the "Interactive MSFO Transition Card for Separate Countries" ("Interactive IFRS ADOPTION by Country Map").

Recently, the degree of influence on IFRS of political events has increased markedly. Situation with the state debt of Greece, problems in banking sector And the attempts of politicians solve these issues led to strengthening pressure on the developers of standards, which are expected to make changes to standards, primarily in standards regulating financial instruments. It is unlikely that this pressure will disappear, at least in the near future. Board of the Committee on International Financial Reporting Standards (CMSFO, English) is actively working on solving these problems, so we can expect all new changes to standards, and this process will continue over the coming months and even years.

Accounting principles and the use of IFSO

The Board of the CMSFO has the authority to accept IFRS and approve the interpretations of these standards.

It is assumed that IFRS should be applied to profit-oriented enterprises.

Financial reports of such enterprises reflect information on the results of activities, financial position and cash flow, useful for a wide range of users in the process of their financial decisions. Such users include shareholders, lenders, employees and society as a whole. A complete set of financial statements includes the following:

• balance (financial statement);
• report on cumulative income;
• accounting policy description;
• notes to financial statements.

The concepts based on accounting practices in accordance with IFRS are set forth in the "conceptual foundations of financial statements" published by the Board of the SMFO in September 2010 (hereinafter - "Concept"). This document replaces the "Basics of Preparation and Financial Reporting" ("Basics", or "Framework"). The concept includes the following sections:

• Objectives of preparing financial statements of general purpose, including information on economic resources and obligations of the reporting enterprise.
• Reporting a company (currently changes are made to the section).
• Qualitative characteristics of useful financial information, namely, the relevance and truthful presentation of information, as well as extended qualitative characteristics, including comparability, verifiability, timeliness and understandability.

The remaining sections of the "Fundamentals of the preparation and submission of financial statements" issued in 1989 (Currently, changes are made to the document) include the following:

• fundamental assumptions, the principle of continuity of the enterprise;
• elements of financial statements, including those related to the assessment of the financial position (assets, obligations and capital) and to assess the results of activity (income and expenses);
• recognition of financial reporting elements, including the likelihood of obtaining future benefits, reliability of assessment and recognition of assets, liabilities, income and expenses;
• evaluation of financial reporting elements, including assessment of historical cost and alternative options;
• capital concept and maintenance of capital.

Regarding the sections of the Concept in which the Changes are made, the Board of the CMFR issued a draft standard for the reporting enterprise and a discussion document on the other sections of the Concept, including elements of financial statements, recognition and termination of recognition, differences between capital and obligations, evaluation, presentation and disclosure of information, Fundamental concepts (such as a business model, a unit of accounting, continuity of enterprise activities and maintaining capital values).

First use of IFRS - IFRS 1

When moving from national accounting standards to IFRS, the enterprise must be guided by the requirements of IFRS 1. This standard applies to the first annual financial statements of the enterprise compiled in accordance with the requirements of IFRS, and to the interim reporting presented in accordance with the requirements of IAS (IAS) 34 "Interim Financial Reporting" for a part of the period covered by the first financial statements under IFRS. Standard also applies to enterprises with "re-first use". The basic requirement is to complete the use of all IFRS acting as of the reporting date. However, there are several optional liberations and mandatory exceptions related to the retrospective use of IFRS.

Liberation affect standards relative to which the Board of the CMSFO believes that their retrospective use can be associated with too large practical difficulties or can lead to expenses that are superior to any benefit for users. Liberation are optional.

Any or all release can be applied, or none of them may not be applied.

Optional liberation concerns:

• business associations;
• fair value as a conditional initial value;
• accumulated differences when recalculating to another currency;
• combined financial instruments;
• assets and obligations of subsidiaries associated enterprises and joint ventures;
• classifications of previously recognized financial instruments;
• operations involving payments based on shares;
• estimates at the fair value of financial assets and financial obligations under initial recognition;
• insurance contracts;
• reserves for liquidation measures and restoration of the environment as part of the value of fixed assets;
• rental;
• concession agreements on the provision of services;
• loan costs;
• investments in subsidiaries, jointly controlled enterprises and associates;
• obtaining assets transferred to customers;
• repayment of financial obligations with equity tools;
• severe hyperinflation;
• joint activity;
• expenses for stripping work.

Exceptions affect the scope of accounting, in which the retrospective application of the requirements of IFRS is considered inappropriate.

The exceptions below are mandatory:

• accounting of hedge;
• estimated estimates;
• termination of the recognition of financial assets and liabilities;
• uncontrolled shares;
• classification and assessment of financial assets;
• built-in derivative financial instruments;
• state loans.

Comparative information is prepared and presented on the basis of IFRS. Almost all adjustments arising from the first application of IFRS are recognized in retained earnings to the beginning of the first period submitted as part of the reporting of the period.

Recommendation is also required by certain articles in connection with the transition from national standards to IFRS.

Representation of Financial Reporting - IAS 1

brief information

The purpose of the financial statements is to provide information that will be useful to users when they are making economic decisions. The purpose of IAS 1 is to ensure comparability of the submission of financial statements as with the financial statements of the enterprise for previous periods and with the financial statements of other enterprises.

Financial statements should be drawn up on the basis of an assumption of continuity of activity, except in cases where the management intends to eliminate the enterprise, to terminate its orcade activities or is forced to act in a similar way due to the lack of real alternatives. The guide is financial statements based on the principle of accrual, with the exception of information on cash flow.

The established format for financial statements does not exist. However, in the basic forms of financial statements and notes to them, the minimum amount of information should be disclosed. MSFO Guide 1 contains examples of permissible formats.

Financial statements discloses relevant information for the previous period (comparative data), except in cases where IFRS or its explanation admit or require otherwise.

Financial Statement (Balance)

The financial statement report reflects the financial position of the enterprise as of a certain point in time. Following the requirements for the presentation and disclosure of a certain minimum of information, management may adhere to its own judgments regarding the form of its submission, including the possibility of using a vertical or horizontal format, as well as how the classification group should be presented and what information should be disclosed mainly Report and notes.

The balance sheet should be given at least the following articles:

• Assets: fixed assets; investment property; intangible assets; financial assets; Investments taken into account by the method of equity participation; biological assets; Deferred tax assets; assets for the current income tax; stocks; Trading and other receivables, as well as cash and cash equivalents.
• Capital: Capital and reserves related to the owners of the parent enterprise, as well as uncontrolled ownership shareholders presented in capital.
• Obligations: deferred tax liabilities; obligations under the current income tax; financial obligations; reserves; Trade and other accounts payable.
• Assets and obligations intended for sale: The total amount of assets classified as intended for sale, and assets included in the disposal group classified as intended for sale; Obligations included in the disposal group classified as intended for sale in accordance with IFRS (IFRS) 5 "Long-term assets intended for sale and discontinued activities."

Current and non-current assets, as well as short-term and long term duties Reflected in the report as separate classification groups, except when the presentation of information based on the degree of liquidity provides reliable and more appropriate information.

Cumulative income report

Report on aggregate income reflects the results of the enterprise's activities for a certain period. Enterprises can reflect this information in one or two reports by their choice. When reflecting information in one report, the report on the total income must include all articles of income and expenses, as well as each component of other cumulative income, all components are classified in nature.

When preparing two reports, all components of profit or loss are reflected in the income statement, followed by a statement of aggregate income. It begins with the final amount of profit or loss for the reporting period and reflects all components of other cumulative income.

Articles that should be reflected in the income statement and other aggregate income

The section on profits and losses in the Comprehensive Income Report should at least include the following articles:

• revenue;
• financing costs;
• share of the enterprise in profit or loss of associates and joint activities taken into account by the equity method;
• tax costs;
• the amount of profit or loss after taxes from discontinued activities, including profit or loss after taxes, recognized as a result of an assessment of fair value less expenses for the sale (or as a result of disposal) of assets or a departing group (groups) constituting termination activities.

Additional articles and headlines are included in this report, if such a submission is appropriate for understanding financial results Enterprises.

Essential articles

The nature and sums of essential items of income and expenses are disclosed separately. Such information may be presented in the report or in notes to financial statements. Such income / costs may include the costs associated with restructuring; Reserves or value of fixed assets; Considering claims, as well as income and expenses related to the disposal of non-current assets.

Other cumulative income

In June 2011, the Board of KMSFO published "Representing articles of other aggregate income (amendments to IFRS (IAS) 1)". These amendments provide for the separation of articles of other aggregate income on those that will be reclassified into profit or loss, and those that will not be reclassified. The action of these amendments applies to annual reporting periods, starting with July 1, 2012 and after this date.

The company must submit information on adjustments when reclassified with respect to the components of other cumulative income.

The company may present the components of other comprehensive income in the report or (a) less tax effects, or (b) to relevant tax effects with a reflection of the total tax on these articles.

Capital Change Report

The articles below are reflected in the report on changes in capital:

• general aggregate income for the period showing separately the final sums related to the owners of the parent company and to uncontrolled shares;
• for each capital component, the effect of retrospective use or retrospective recalculation, recognized in accordance with IFRS (IAS) 8 "Accounting Policy, Changes in Accounting and Error";
• for each capital component, the reconciliation of the carrying value at the beginning and end of the period, with a separate disclosure of changes due to:
  • profits or loss;
  • articles of other cumulative income;
  • operations with owners operating in this capacity, with a separate reflection of contributions made by owners, and distribution in favor of owners, as well as changes in participation of subsidiaries that do not lead to loss of control.

The company should also submit the amount of dividends recognized as payments in favor of owners during the period, and the corresponding amount of dividends per share.

Cash Movement Report

The cash flow report is considered in a separate chapter on the requirements of IFRS (IAS) 7.

Financial Reporting Notes

Notes are an integral part of financial statements. Notes contain information that complements information about amounts, disclosed in separate reporting forms. They include a description of accounting policies, as well as substantial estimated values \u200b\u200band judgments, disclosure of capital information and financial instruments providing for the obligation to ransom classified as capital.

Accounting policies, changes in accounting assessments and errors - IFRS (IAS) 8

The company applies accounting policies in accordance with the requirements of IFRS, which are applicable to specific conditions for its activities. However, in some situations, standards provide the choice; There are also other situations in which IFRS does not indicate regarding the order of accounting. In such situations, the manual should choose the appropriate accounting policy independently.

The leadership, based on his professional judgment, develops and applies accounting policies in order to ensure the receipt of objective and reliable information. Reliable information has the following characteristics: truthful representation, priority of content over the shape, neutrality, prudency and completeness. In the absence of IFRS standards or interpretations, which can be applied in specific situations, management should consider the possibility of applying the requirements provided for in IFRS to solve similar or similar issues, and only after that consider the definitions, criteria for recognition, assessment methodologies, obligations, income and expenses established in the "Conceptual Fundamentals of Financial Reporting." In addition, management may take into account the latest definitions of other bodies developing accounting standards, other additional literature on accounting, as well as the practice adopted in the industry, if it does not contradict the provisions of IFRS.

Accounting should be applied consistently for similar operations and events (except in cases where any standard allows or specifically requires otherwise).

Changes in accounting policies

Changes in accounting policies related to the adoption of a new standard are taken into account in accordance with transitional provisions (if any) established under this standard. If the special transition procedure is not specified, the policy change (mandatory or voluntary) is reflected retrospectively (that is, by adjusting the introductory residues), with the exception of cases when it is not possible.

The release of new / revised standards that have not yet entered into force

Typically, standards are published before the occurrence of their application. Before this date, management discloses in the financial statements the fact that the new / revised standard relating to the enterprise activities has been released, but has not yet entered into force. It is also required to disclose information about the possible impact of the first application of the new / revised standard for the company's financial statements based on available data.

Changes in accounting estimates

The company periodically revises accounting estimates and recognizes changes in them by promising reflection of the results of changes in estimates in profit or loss for the reporting period, which they influence (the period in which changes in estimates and future reporting periods), except in cases where changes in estimates led to changes in assets, obligations or capital. In this case, the recognition is carried out by adjusting the value of the corresponding assets, liabilities or capital in the reporting period, which occurred.

Errors

Errors in financial statements may arise as a result of incorrect actions or incorrect interpretation of information.

Errors identified in the subsequent period are errors of the previous reporting periods. Essential errors of previous years identified in the current period are adjusted retrospectively (that is, by adjusting the introductors, as if the reporting of previous periods initially did not contain errors), except when this is not possible.

Financial instruments

Introduction, purpose and scope of application

The following five standards applies to financial instruments:

• IFRS 7 "Financial Instruments: Information Disclosure", the subject of which is the disclosure of information on financial instruments;
• IFRS 9 "Financial Instruments";
• IFRS 13 "Evaluation of fair value", which provides information on an assessment of fair value and relevant information disclosure requirements for financial and non-financial articles;
• IAS 32 "Financial Instruments: Information Presentation", the subject of which is to distinguish between obligations and capital, as well as relatives;
• IAS 39 "Financial Instruments: Recognition and Evaluation", which contains requirements for recognition and evaluation.

The purpose of the above five standards is to establish requirements for all aspects of accounting of financial instruments, including relative to the delimitation of obligations and capital, relatives, recognition, discontinuation, evaluation, hedging accounting and disclosure.

Standards have a wide scope of application. Their action applies to all types of financial instruments, including receivables, payables, investments in bonds and shares (with the exception of participation in subsidiaries associated and joint ventures), loans and derivative financial instruments. They also apply to certain contracts for the purchase or sale of non-financial assets (such as commodities), which can be produced net-calculation with the help of cash or other financial instruments.

Classification of financial assets and financial obligations

The method of classifying financial instruments established by IAS 39 determines the method of subsequent assessment and the method of accounting for subsequent changes in the assessment.

Prior to the entry into force of IFRS 9 in financial instruments accounting, financial assets are classified in the following four categories (according to IAS 39): financial assets, assessed at fair value, changes in which are reflected in profit or loss; investments held to repayment; loans and receivables; Financial assets available for sale. When classifying financial assets, the following factors must be taken into account:

• Are cash flows generated by a financial instrument, permanent or variables? Does the tool of the repayment date?
• Are there assets for sale? Does the manual keep held tools to repay?
• Is the financial instrument derivative or does it contain a built-in derivative financial instrument?
• Are the tool in the active market quoted?
• Did the instrument classify the instrument in a specific category since the recognition?

Financial liabilities are estimated at fair value, which is reflected in profit or loss, if they are defined as such (depending on the various conditions), are intended for trade or are derived financial instruments (except when the derivative financial instrument is a financial instrument. warranty or if it is defined as a hedging tool and efficiently works). Otherwise, they are classified as "other financial obligations".

Financial assets and liabilities are estimated at fair or amortized cost, depending on their classification.

Changes change are reflected either in the income statement, or as part of other comprehensive income.

Reclassification with the transfer of financial assets from one category to another is permitted in limited cases. Reclassification requires disclosure of information on a number of items. Derivatives financial instruments and assets that were classified as part of the fair value option as "fair value, which is reflected in profit or loss," is not subject to reclassification.

Types and main characteristics

Financial instruments include various assets and obligations, such as receivables, payables, loans, receivables associated with financial leasing, and derivative financial instruments. They are recognized and evaluated according to the requirements of IFRS (IAS) 39, information about them is disclosed in accordance with IFRS 7, and information on fair value is revealed in accordance with IFRS 13.

Financial instruments are a contractual law or obligation to obtain or pay cash or other financial assets. Nefinancial articles have a more mediated, not caused by the contract, attitude towards future cash flows.

Financial asset is cash; due to the contract the right to receive cash or other financial asset from another enterprise; The right to exchange financial assets or financial obligations with a different enterprise on the terms, potentially beneficial to the enterprise, or is the equity tool of another enterprise.

The financial commitment is the obligation due to the contract of the obligation to transfer funds or other financial asset to another enterprise or the obligation to exchange financial instruments with another enterprise on the conditions potentially disadvantageous to the enterprise.

The equity tool is a contract confirming the right to a residual share in the enterprise assets remaining after the deduction of all its obligations.

The derivative financial instrument is a financial instrument, the cost of which is determined on the basis of the relevant price or price index; It requires small initial investments or are not required at all; Calculations on it are carried out in the future.

Financial obligations and capital

The classification of the financial instrument by its issuer or as an obligation (debt tool), or as capital (equity tool) can have a significant impact on solvency indicators (for example, the ratio of the relation borrowed money To own capital) and company profitability. It may also affect the compliance with the special conditions of credit agreements.

The key characteristic of the obligation is that in accordance with the terms of the contract, the issuer must (or may require) to pay cash to the holder of such a tool or transfer other financial assets, that is, it cannot avoid this obligation. For example, the bonded loan, according to which the issuer is obliged to pay interest, and subsequently repay the bonds with money, is a financial obligation.

The financial instrument refers to the category of capital, if it establishes the right to the net assets of the issuer after the deduction of all its obligations or, in other words, if the issuer under the contractual terms is not obliged to pay funds or transfer other financial assets. Ordinary shares for which any payments remain at the discretion of the issuer are an example of equity financial instruments.

In addition, the following classes of financial instruments can be recognized as capital (subject to certain conditions for such recognition):

• financial instruments with the right to sell (for example, the share of participants in cooperatives or some shares in partnerships);
• tools (or their respective components), obliging to pay the tool to the amount, proportional to the company's net assets, only at the time of liquidation of the company (for example, some types of shares issued by companies with a deadline).

The separation of the issuer of financial instruments for debt and equity is based on the essence of the essence of the instrument, and not on its legal form. This means that, for example, preferred shares to be repurchased, which are similar in their economic essence, are taken into account in the same way as bonds. Thus, the preferred shares to be matured are classified as an obligation, and not as capital, despite the fact that from a legal point of view, they are shares of the issuer.

Other financial instruments may not be simple as discussed above. In each case, a detailed analysis of the characteristics of the financial instrument on the appropriate classification features is necessary, especially given the fact that some financial instruments combine elements of both equity and debt tools. In the financial statements of the debt and the equity components of such tools (for example, bonds convertible to a fixed number of shares) are reflected separately (the equity component is presented with an option for conversion in case of satisfaction of all qualification characteristics).

The reflection of interest, dividends, income and losses in the income and loss statement is based on the classification of the relevant financial instrument. So, if a privileged action is a debt tool, the coupon is reflected as a percentage consumption. Conversely, a coupon, which is paid at the discretion of the issuer on the instrument considered as the equity, is reflected as capital distribution.

Recognition and cessation of recognition

Confession

Rules of recognition for financial assets and liabilities are usually not difficult. The company recognizes financial assets and obligations at the moment when it becomes a party to contractual relations.

Termination of recognition

The discontinuation of recognition is the term used to determine the moment of write-off from the balance of a financial asset or obligation. These rules are more complex in use.

Assets

The company is a financial asset holder can attract additional funds to finance its activities using the existing financial asset as security or by the quality of the main source of funds from which debt will be made. The requirements of IFRS (IAS) 39 to terminate recognition are determined whether the operation of the sale of financial assets is (as a result of which the enterprise ceases to recognize them) or receiving funding for assets (in this case, the enterprise recognizes the obligation in the amount of funds received).

Such an analysis can be quite simple. For example, it is obvious that the financial asset is written off from the balance after its unconditional transmission independent of the enterprise to the third party without any additional obligations to compensate for its asset risks and without the conservation of rights to participate in its profitability. And vice versa, the cessation of recognition is unacceptable if the asset was transferred, but, in accordance with the terms of the contract, all risks and potential revenues From the asset left for the enterprise. However, in many other cases, the interpretation of the transaction is more complex. Securitization and factoring operations are examples of more complex operations, in relation to which the issue of write-off from the balance requires a thorough study.

Obligations

The company may stop recognizing (write off from the balance) financial obligation only after its repayment, that is, when the obligation is paid, canceled or discontinued due to the expiration of its term, or when the borrower is released from the obligations by the creditor or by law.

Evaluation of financial assets and obligations

In accordance with IAS 39, all financial assets and financial liabilities at initial recognition are assessed at fair value (plus the cost of the transaction in the event of a financial asset or financial obligation not taken into account at fair value, changes in which are reflected in profit or loss). The fair value of the financial instrument is the price of the transaction, that is, the fair value of the transferred or received remuneration. However, in some circumstances, the transaction price may not reflect the fair value. In such situations, the fair value is appropriate to determine on the basis of open data of current transactions with similar tools or on the basis of technical assessment models, using only data on the markets available to surveillance.

Evaluation of financial instruments after their initial recognition depends on their initial classification. All financial assets after initial recognition are estimated at fair value, with the exception of loans and receivables, as well as assets held before repayment. In exceptional cases, equity tools are also not overestimated, the fair value of which cannot be reliably appreciated, as well as derivatives associated with those non-monotlectable equity tools, calculations for which should be carried out by delivering these assets.

Loans and receivables and investments held to repayment are estimated at amortized cost.

The amortized cost of a financial asset or financial liability is determined using the effective interest method.

Financial assets available for sale are estimated at fair value, changes in which are reflected in other comprehensive income. At the same time for debt tools available for sale, interest income belongs to the accounts of profits and losses using the effective interest method. Dividends from equity tools available for sale are among the profit and loss account at the time of establishing the rights of the owner on their receipt. Derivatives (including built-in derivatives tools to be separated) are estimated at fair value. Profit and losses arising from changes in their fair value are recognized in the income statement, except for changes in the fair value of hedging tools when hedging cash flows or hedging net investment.

Financial liabilities are estimated at amortized value by the method of effective interest rate, unless they are attributed to the category of obligations assessed at fair value, changes in which are reflected in profit or loss. There are some exceptions in the form of commitments to issue a loan and contracts of the financial guarantee.

Financial assets and financial obligations defined as hedged articles may require additional adjustment of the book value in accordance with the provisions of hedging accounting (see the section on hedging accounting).

All financial assets, with the exception of the fair value estimated, changes in which are reflected in profit and loss are subject to inspection for impairment. If there are objective signs that the financial asset depreciated the impairment loss is recognized in the income statement.

Derivative financial instruments built into the main contract

Some financial instruments and other contracts unite derivatives and non-derivative financial instruments in one contract. Part of the contract, which is a derivative financial instrument, is called a built-in derivative financial instrument.

The specifics of such a tool lies in the fact that some of the cash flows of the contract are changed similar to the independent derivative financial instruments. For example, the nominal bonds may vary simultaneously with the oscillations of the stock index. In this case, the embedded derivative financial instrument is a debt derivative of a financial instrument, which is based on the appropriate stock index.

Built-in derivatives financial instruments that are not "closely related" with the main contract, are allocated and taken into account as independent derivatives of financial instruments (that is, as evaluated at fair value, changes in which are reflected in profit or loss). Built-in derivative financial instruments are not "closely related" if their economic characteristics and risks do not coincide with the characteristics and risks of the main contract. In IAS 39, there are many examples to help determine if this condition is performed or not.

Analysis of contracts for the presence of potential embedded derivatives of financial instruments is one of the most difficult aspects of IAS 39.

Hedge accounting

Heading is an economic operation on the use of a financial instrument (usually derived), aimed at reducing (partial or complete) risks of the hedged article. The so-called hedging account allows you to change the time for recognizing income and losses for a hedged article or a hedging tool in such a way that they are recognized in the income statement in the same accounting period in order to reflect the economic essence of the use of hedging.

To apply hedging accounting, the enterprise must ensure compliance with the following conditions: (a) At the beginning of hedging, the hedging relationship between the hedging instrument and the qualifiable hedging article and (b) at the beginning of hedging and during the entire hedge period, it is necessary to demonstrate that hedging is highly efficient. .

There are three types of hedging relationships:

• hedging fair value - hedging of exposure to risk of changes in the fair value of a recognized asset or commitment or a solid solid obligation;
• hedging of cash flows - hedging exposure to the risk of changes in future cash flows related to a recognized asset or obligation, a firm commitment or projected operation, the probability of which is more than high;
• hedging net investment - currency risk hedging in terms of net investment in foreign activities.

For the hedge of fair value, the hedged article is adjusted to the amount of income or expenses related to hedging risk. The adjustment is recognized in the income statement where it will compensate for the appropriate income or consumption from the hedging tool.

Revenues and losses from the money hedging tool, the effectiveness of which was established, are initially recognized as part of other aggregate income. The amount included in other cumulative income is the lowest indicator of the fair value of the hedging and hedging instrument. Where the hedging tool has a higher fair value than the hedged article, the difference is reflected in profit or loss as an indicator of hedging inefficiency. Deferred income or expenses reflected in other comprehensive income are reconceded in profit or loss when the hedged article has an impact on the income statement. If the hedging article is the projected acquisition of a non-financial asset or obligation, the enterprise has the opportunity to choose as an accounting policy to adjust the current value of the non-financial asset or obligations on hedging income or a loss at the time of purchase or leave the reflection of deferred hedging income or capital costs and reclassify them into profits and Loss when the hedged article will have an impact on profit or loss.

Accounting for the hedging of net investment in foreign activities is carried out similarly to accounting for hedging cash flows.

Information disclosure

Recently, significant changes have occurred in the concept and practice of risk management. To assess the risks associated with financial instruments, new methods have been developed and implemented to manage such risks. These factors, along with substantial volatility in financial markets, led to the need to obtain more relevant information, ensuring greater transparency of information about the company's exposure to risks associated with financial instruments, and obtaining information on how the company manages these risks. Users of financial statements and other investors need such information to form the risk judgments, which are subject to an enterprise as a result of the use of financial instruments and appropriate income.

IFRS 7 and IFRS (IFRS) 13 establish requirements for disclosing information necessary to users to assess the importance of financial instruments from the point of view of the financial situation and financial results of the company, as well as to understand the nature and degree of risks associated with these tools. Such risks include credit risk, liquidity risk and market risk. IFRS 13 also requires disclosure on a three-level hierarchy of fair value assessment and some specific quantitative information on financial instruments at the lowest level of the hierarchy.

Requirements related to the disclosure of information are applied not only to banks and financial institutions. They apply to all enterprises who have financial instruments, even such as simple as borrowing, receivables and payables, cash and investment.

IFRS 9

November 2009, the Board of the CMSFO published the results of the first part of the three-stage project to replace IAS 39 with the new IFRS standard (IFRS) 9 "Financial Instruments". This first part is devoted to the classification and evaluation of financial assets and financial liabilities.

In December 2011, the Board made changes to IFRS 9 and changed the date of the obligatory application of the standard for annual reporting periods beginning on January 1, 2013, as of January 1, 2015 or after this date. However, in July 2013, the Board adopted a preliminary decision on the subsequent deferment of the mandatory application of IFRS 9 and that the date of the mandatory application of the standard should remain open to the completion of work on impairment, classification and evaluation. The early application of IFRS 9 is still permitted. The use of IFRS 9 in the EU has not yet been approved. The Board also made changes to the provisions of the transition period, providing exemption from recalculating comparative information and introducing new information disclosure requirements, which will help users of financial statements to understand the consequences of the transition to the classification model and evaluation in accordance with IFRS 9.

Below is a summary of the basic requirements of IFRS 9 (in the current edition).

IFRS 9 replaces multiple classification models and assessment of financial assets provided for in IAS 39, a single model that has only two classification categories: amortized cost and fair value. Classification according to IFRS 9 is defined by the business model adopted by the enterprise to manage financial assets, and contractual characteristics of financial assets.

The financial asset is estimated at amortized cost under the observance of two conditions:

• the purpose of the business model is to hold a financial asset to obtain funds provided for by the contract;
• the funds provided for by the treaty are exclusively payments to the principal amount of debt and interest.

New standard Cancels the requirement to allocate embedded derivatives from financial assets. The standard requires classifying a hybrid (complex) treaty as a single integer or at amortized cost, or at fair value, if funds provided by the contract flows are not exclusively payments to the principal amount of debt and interest. Two of the three existing evaluation criteria at fair value cease to be applied in accordance with IFRS 9, since the business model based at fair value involves accounting at fair value, and hybrid contracts that do not meet the criteria provided by the cash flow agreements, Completed them are classified as reflected at fair value. The remaining condition for the choice of accounting at the fair value provided for in IAS 39 is postponed to the new standard - this means that the management can still classify the financial asset at initial recognition as reflected at fair value, which is reflected in profit or loss. If this significantly reduces the number of inconsistencies in accounting. The attribution of assets to the category of financial assets, assessed at fair value, changes in which are reflected in profit or loss, will retain irrevocable character.

IFRS 9 prohibits reclassification from one category to another, with the exception of rare cases of changes in the business model of the enterprise.

There is a special guide for contractual relations related tools that balance credit risks, which is often found in the case of investment trenches during securitization.

The principles of the classification of IFRS (IFRS) 9 suggest that all equity investments should be assessed at fair value. However, management has the right to decide on the reflection of realized and unrealized profits and losses obtained as a result of changes in the fair value of equity tools, except for trading, as part of other aggregate income. IFRS 9 cancels the possibility of accounting for the cost of non-optical stocks and financial instruments derived from them, but provides guidance on cases when the cost can be considered as an acceptable assessment of fair value.

The classification and assessment of financial liabilities in accordance with IFRS 9 did not change compared with IFRS (IAS), with the exception of cases when an enterprise decides to assess the obligations at fair value, changes in which are reflected in profit or loss. For such obligations, a change in fair value associated with a change in the level of their own credit risk is separately reflected in other comprehensive income.

Amounts as part of other aggregate income relating to their own credit risk are not transferred to the income statement even in case of termination of the recognition of the obligation and the implementation of the relevant amounts. However, this standard permits the transfers inside the capital.

As before, in cases where derivatives of financial instruments embedded in financial liabilities are not closely connected with the main contract, the enterprises will have to allocate them and take into account separately from the main contract.

Foreign currencies - IFRS (IAS) 21, IFRS 29

Many enterprises have relations with foreign suppliers or buyers or lead activities in foreign markets. This leads to two main features of accounting:

• Operations (transactions) of the enterprise itself are expressed in foreign currency (For example, those of them, which are carried out in conjunction with foreign providers or clients). For the purposes of submission in the financial statements, these operations are expressed in the currency of the economic environment in which the company operates its activities ("Functional currency").
• The parent company can lead activities abroad, for example, through subsidiaries, branches or associated enterprises. Functional currency of foreign divisions may differ from the functional currency of the maternal enterprise, and therefore accounts May be in different currencies. Since it would be impossible to summarize indicators expressed in different currencies, the results of foreign activities and financial position indicators are translated into one currency - in the currency in which the consolidated financial statements of the Group ("reporting currency").

Recalculation procedures used in each of these situations are summarized below.

Recalculation of operations in foreign currency in the functional currency of the enterprise

Operation in foreign currency is translated into the functional currency at the rate at the date of the operation. Assets and liabilities that are expressed in foreign currencies, which are cash or foreign currency amounts to be obtained or to pay (so-called monetary or monetary balance sheets), are recalculated at the end of the reporting period at the rate on this date. The term difference arising in this way on the monetary articles is recognized as a profit or loss of the corresponding period. Unmonetary balance sheet articles on which the revaluation is not applied at fair value and which are expressed in foreign currency, are measured in functional currency at the rate at the date of the appropriate operation. If there was a revaluation of the non-monetary balance sheet to its fair value, the exchange rate is used for the date of definition of fair value.

Recalculation of financial reporting indicators in functional currency in reporting currency

The cost of assets and liabilities is translated from the functional currency in the currency of reporting on the exchange rate at the date of reporting at the end of the reporting period. The indicators of the profit and loss report are recalculated at the exchange rate as of the date of transactions or in the average exchange rate, if it is close to actually exchange rates. All course differences arising from this case are recognized as part of other cumulative income.

Financial statements foreign companyThe functional currency of which is the currency of the country with a hyperinflation economy, first recalculates, taking into account the change in purchasing power in accordance with IAS 29. All indicators of financial statements are then translated into the currency of the reporting report on the course at the end of the reporting period.

Insurance Contracts - IFRS 4

Insurance contracts are contracts in which the Insurer Company assumes a significant insurance risk from the other side (insurer), agreeing to pay the latest compensation if the offensive insurance case Negative affect the insured. The risk transmitted under the contract must be insurance risk, that is, any risk except financial.

Accounting Insurance Contracts is considered in IFRS 4, which applies to all companies entering insurance agreements, regardless of whether legal status Insurance company or not. This standard does not apply to the accounting of insurance contracts by the insured.

IFRS 4 is an intermediate standard that is valid until the end of the second phase of the CMFO project for accounting of insurance contracts. It allows companies to continue to apply their accounting policies regarding insurance contracts, if this policy meets certain minimum criteria. One of these criteria is that the amount of obligation recognized in terms of insurance liability is subject to testing for the adequacy of the amount of the obligation. This test considers the current estimates of all the contracts defined by the cash flows associated with it. If the adequacy test of the amount of the obligation indicates that the recognized obligation is inadequately, then the missing amount is recognized in the income statement.

Selection of accounting policies developed on the basis of IAS 37 "reserves, subject obligations and conditional assets "is appropriate for an insurer company who is not an insurance company, and in cases where the generally accepted accounting principles (OPAP) countries do not contain specific requirements for accounting insurance contracts (or the relevant requirements of the country's OCDA include only insurance companies) .

Since insurers have the right to continue to use accounting policies in accordance with the Office of their country, disclosure of information acquires particular importance to submit activities related to the conclusion of insurance contracts. IFRS 4 provides two basic principles for presenting information.

Insurers must disclose insurers:

• information that determines and explains the amounts reflected in their financial statements and arising from insurance contracts;
• information that allows users of their financial information to understand the nature and the degree of risks arising from insurance contracts.

Revenue and contracting contracts - IAS 18, IFRS (IAS) 11 and IFRS (IAS) 20

Revenue is estimated at the fair value of the obtained or expected remuneration. If from the essence of the operation implies that it includes separately identifiable items, then the revenue is determined by each element of the transaction, as a whole, based on fair value. The moment of recognition of revenues for each element is determined independently subject to the criteria for recognition considered further.

For example, when selling a product with the subsequent condition of its service maintenance, the amount of revenue due to the contract must first be distributed between the element of selling goods and the provision of service services. After that, revenue from the sale of goods is recognized at the time of compliance with the criteria for recognizing revenue for the sale of goods, and the revenue from the provision of services is recognized separately subject to the criteria for recognizing revenue for this item.

Revenue - IFRS 18

Revenue in the sale of goods is recognized when the company handed down the buyer with significant risks and benefits associated with this product, and does not participate in the management of the asset (product) to the extent that this is usually associated with possession and control, and when there is a high probability Additions to the company of economic benefits expected from the transaction and the ability to reliably measure revenue and costs.

When providing services, revenues are recognized if the results of the transaction can be reliably appreciated. This establishes the stage of completion of the contract for the reporting date with the help of principles similar to those used for construction contracts. It is believed that the results of the transaction can be reliably estimated if: revenue amount can be securely measured; There is a high probability of admission to the company of economic benefits; It is possible to reliably define the completion stage on which the contract is performed; The costs incurred and expected to complete the transaction can be securely measured.

• the company is responsible for the unsatisfactory performance characteristics of the sold goods, and such responsibility goes beyond the standard warranty;
• the buyer has the right under certain conditions specified in the contract of sale, refuse to purchase (return the goods), and the company has no opportunity to assess the likelihood of such a refusal;
• shipped goods are subject to installation, while installing services are a significant part of the contract.

Interest income is recognized in accordance with the effective interest rate. Income from royalties (paid for the use of intangible assets) is reflected according to the accrual method according to the terms of the contract during its time. Dividends are recognized in the period in which the shareholder's right to receive them is established.

Clarification of the CRMFO (IFRIC) 13 "Customer loyalty programs" makes clarity in the question of accounting for encouragements provided to customers when purchasing goods or services, for example, as part of programs for promoting air passengers, often carrying air travel, or customer loyalty programs implemented in supermarkets. The fair value of the received payments or debt from the sale is distributed between encouragement points and other components of sales.

Clarification of the CRMFO (IFRIC) 18 "Accounting for assets received from buyers" makes clarity into the question of reflecting the facilities of fixed assets transferred to the company by the Buyer in exchange for the buyer's connection to its network or providing a customer continuous access to goods and services. Clarification of IFRIC 18 is most apprehensible to enterprises of the provision of communal servicesBut it can also be applied to other operations, for example, when the client transfers the ownership of fixed assets as part of the implementation of the agreement on the involvement of external contractors.

Building contracts - IFRS (IAS) 11

Construction Agreement is a contract concluded in order to build an object or a complex of facilities, including contracts for the provision of services directly related to the construction of an object (for example, the oversight of the engineering organization or project work of the architectural bureau). Typically, these are contracts with a fixed price or contracts "costs plus". When determining the amount of revenue and expenses under construction contracts, the method of percentage of completion of work is used. This means that revenue, expenses, and therefore, the profit is reflected as work under the contract.

If it is impossible to reliably assess the results of the fulfillment of the contract, the revenue is recognized only to the extent to which the reimbursement of incurred costs is expected; The costs under the contract refer to expenses as they occur. If there is a high probability that the total amount of costs under the contract exceeds the total amount of income on it, the expected loss is expected to be expected immediately.

Clarification of KRMFO (IFRIC) 15 "Agreements for the construction of real estate objects" makes clarity to the question of which standard - IAS 18 "revenue" or IAS 11 "Construction contracts" - should be applied to specific operations.

State subsidies - IFRS (IAS) 20

Government subsidies are recorded in the financial statements when there is a reasonable confidence that the company will be able to ensure complete compliance with all the conditions for subsidies and subsidies will be obtained. State subsidies for losses are recognized as income and are reflected in profit or loss of the period as the relevant expenses that they must compensate, depending on the implementation of the conditions for the provision of a state subsidy. They are either mutually decreased by the amount of the corresponding costs, or reflected on a separate line. The period of recognition in profit or loss will depend on the fulfillment of all conditions and obligations provided for by the subsidy.

State subsidies related to assets are recorded in the balance sheet or by reducing the carrying value of a subsidized asset, or as deferred income of future periods. On the profit and loss account, the state subsidy will be reflected either in the form of reduced depreciation deductions, or as a systematic basis (for the useful use of a subsidized asset) of income.

Operating segments - IFRS 8

In accordance with the leadership in relation to segments, enterprises must disclose information that will allow users of financial statements to assess the nature and financial results of economic activities, as well as economic conditions in terms of management.

Although many enterprises manage their financial and economic activities using a certain level of "segmented" data, the requirements for disclosing information are applicable (a) to enterprises with registered or marketed equity or debt instruments, and (b) to enterprises in stage Registration or receipt of admission to the quotation of debt or equity tools in the public market. If an enterprise that does not meet any of these criteria decides to disclose segmented data in financial statements, information can be defined as "segment" only if it meets the requirements for the segments presented in the manual. These requirements are set out below.

The determination of the operating segments of the enterprise is a key factor for assessing the level of disclosed information on segments. Operating segments are components of the enterprise defined on the basis of an analysis of information information, which is regularly used by the head of the enterprise hosting operational solutions for the distribution of resources and evaluating the results of activities.

Reporting segments are separate operating segments or a group of operating segments for which it is necessary to submit to separately (disclose) segment information. The combination of one or more operating segments into a single reporting segment is permitted (but is not mandatory) when performing certain conditions. The main condition is the presence of similar economic characteristics in the operating segments under consideration (for example, profitability, price variation, sales growth rates, etc.). To establish the ability to combine several operating segments in one reporting segment, it is necessary to apply a significant professional judgment.

For all revealed segments from the enterprise, it is required to provide information on the assessment of profit or loss in the format analyzed by the highest body of operational management, as well as disclose information on assessing assets and liabilities, if these indicators are also regularly analyzed by management. Other disclosed information about segments includes income received from clients for each group of identical products and services, incomes in geographic regions and according to the degree of dependence on major customers. Enterprises must also disclose other, more detailed performance indicators and use of resources in the reporting segments if these indicators are analyzed by the head of the enterprise hosting operational solutions. The reconciliation of the final values \u200b\u200bof the indicators disclosed in all segments, with the data in the basic forms of financial statements is required for data on the revenue, profit and loss and other significant articles, which is carried out by the highest operational management body.

Employee Rewards - IFRS (IAS) 19

Reflection in accounting of remuneration to employees, in particular pension obligations, is complex question. Often the amount of obligations of pension plans with established payments is essential. Obligations are long-term, and they are difficult to assess, therefore the definition of consumption for the year is also difficult.

Remuneration to employees includes all the forms of payments carried out or promised by the employee's company for his work. The following types of remuneration to employees are distinguished: wages (includes salary, participation in profits, premiums, as well as paid lack of work, such as annual paid leave or additional leave for long service); Weekend benefits, which are compensatory payments when dismissing or reducing the state, and payments at the end labor activity (for example, pensions). Remuneration to employees in the form of stocks based on shares are considered in IFRS 2 (Chapter 12).

Payments at the end of employment include pensions, life insurance and medical care at the end of the employment period. Pension deductions are divided into pension plans with established contributions and pension plans with established payments.

Recognition and measurement of summary forms of remuneration do not cause difficulties, since the use of actuarial assumptions is not required and the discounting of obligations is not carried out. However, for long-term forms of remuneration, especially the obligations on the completion of employment, the measurement is a more challenging task.

Pension plans with established contributions

The approach to accounting for pension plans with established contributions is quite simple: the cost of contributions to be paid by the employer for the corresponding reporting period is considered.

Pension plans with established payments

The reflection in the accounting of pension plans with established payments is a complex process, since, to determine the current value of the obligation and accrual of consumption, actuarial assumptions and settlement methods of evaluation are applied. The amount of consumption reflected during the period is not necessarily equal to the amount of contributions to pension fundsincluded during this period.

The obligation recognized in the balance sheet regarding the pension plan with established payments is the present value of pension liabilities minus the fair value of the plan's assets adjusted to the magnitude of unrecognized actuarial profits and losses (see further a description of the "corridor" recognition principle).

To calculate the value of the obligation regarding the planned payments, the estimates of the payments are given estimates (actuarial assumptions) of demographic variables (for example, personnel turnover and the mortality rate) and financial variables (such as the future increase in salaries and medical expenses). The calculated amount of payments is then discounted until its present value using the method of the projected conditional unit. These calculations usually carry out professional actuaries.

In companies that carry out the funding of pension plans with established payments, the assets of the plan are estimated at fair value, which in the absence of market prices is calculated by the method of discounted cash flows. The assets of the plan are rigidly limited, and only those assets that meet the definition of the plan's asset can be credited against the obligations of the pension plan with the established payments, that is, the balance sheet reflects the net deficit (obligation) or a surplus of the pension plan.

Assets of the plan and obligation on the pension plan with established payments are revalued for each reporting date. The income statement reflects the change in the amount of surplus or deficiency, with the exception of information about contributions to the plan and payments made under the plan, as well as business associations and reassessment of profit and loss. The reassessment of profit and losses includes actuarial profits and losses, revenues on the assets of the plan (minus the amounts of pure interest in a clean liability or asset within the plan with established payments) and any change in the impact of the limit value of assets (except for the amounts in Composition of pure interest on pure liability or asset as part of a plan with established payments). The results of the revaluation are recognized as part of other comprehensive income.

The magnitude of the pension flow rate (income) to be recognized as part of profit or loss consists of the following components (except in cases where they are required or allowed to include assets):

• the cost of services (the cost of remuneration earned by the current employees for the current period);
• pure interests percentage (restoration of discount on the obligations of established payments and expected income from the assets of the plan).

The cost of services includes the "Cost of Current Services", which is an increase in the present value of the obligation to plan with established payments as a result of employees in the current period, the "Cost of past services" (in accordance with the definition below and including any profit or any loss as a result of the sequestration ), as well as any profit or any loss for calculations.

Clean interest on the net liability (asset) under the plan with established payments is defined as "a change in net liability (asset) according to plan with established payments for the period arising over time" (IFRS 19, paragraph 8). Net interest expense can be considered as the amount of expected interest income on assets of the plan, interest expenses on the obligations under the plan with established payments (which is the restoration of the discount on the obligations under the plan) and interest associated with the impact of the limit value of assets (IFRS 19, P. 124).

Clean interest on pure liability (asset) under the plan with established payments is calculated by multiplying the amount of net liability (asset) within the framework of the plan with established payments at the discount rate. At the same time, those values \u200b\u200bthat were established at the beginning of the annual reporting period will be used, taking into account any changes in the net liability (asset) within the framework of the plan with established payments that occurred during the period as a result of contributions and payments (IFRS 19, p. 123 ).

The discount rate applied to any fiscal year is an appropriate rate of profitability on high-quality corporate bonds (or the rate of profitability on government bonds in appropriate cases). It can be considered that pure interest on the net liability (asset) under the plan with established payments include the expected interest income on the assets of the plan.

The cost of past services is a change in the present value of the obligation under the plan with established payments due to the services of workers rendered in previous periods resulting from changes in the plan (Introduction, Cancellation or Change of Plan with established payments) or a sequestration (a significant reduction in the number of employees included in the plan). As a rule, the cost of past services should be reflected in expenses in the event of amending the plan or as a result of the sequestration. Profit or loss on calculations is recognized in the statement of profit and loss during calculations.

Clarification of KMFO (IFRIC) 14 "IAS 19" The limit value of the asset of the pension plan with established payments, minimum financing requirements and their relationship "contains an assessment guide that can be reflected as an asset when the plan's assets exceed the obligation in The plan with established payments, resulting in pure surplus. In explanation, it is also explained which influence may be on an asset or commitment to the legislative or contractual requirement minimum financing.

Promotion-based payments - IFRS 2

IFRS 2 applies to all fees based on stocks. Agreement based on promotions has the following definition: "Agreement between the company (or another group of a group, or any shareholder of any company company) and the other party (including employee), which provides the other party to receive:

• cash or other assets of the company in the amount of which is established on the basis of the price (or value) of equity tools (including shares or options per shares) of the company or another group of group, as well as
• share instruments (including promotions or options for shares) of a company or another company company. "

Payments based on shares are most widely used in program promotion programs, such as stock options. In addition, companies can thus pay other expenses (for example, professional consultants) and the acquisition of assets.

The principle of IFRS 2 assessment (IFRS) is based on the fair value of the tools used in operation. As an assessment and accounting of remuneration may be difficult because of the need to apply complex settlement models for calculating the fair value of options, as well as due to the diversity and complexity of payments. In addition, the standard requires disclosing a large amount of information. The amount of net profit of the company is usually reduced as a result of the application of the standard, especially in companies that are widely used payments based on promotions, as part of their employee remuneration strategies.

Promotion-based payments are recognized as expenses (assets) during the period in which all specified conditions for the transition to an agreement on shares based on shares should be performed (the so-called transition period). Shares based on shares are measured at fair value at the date of granting the right to pay for employee remuneration, and in case the parties participating in the transaction are not employees of the company, at fair value at the date of recognition of the assets received and Services. If the fair value of the received goods received or services cannot be reliably estimated (for example, if we are talking about the payment of workers' services or in case of circumstances that prevent the accurate identification of goods and services), the company reflects assets and services at the fair value of the equity tools provided. Advanced guide should take into account whether there were or expected to receive any unidentifiable goods and services, since they should also be measured in accordance with IFRS 2. Payments based on shares with equity tools are not subject to revaluation after As the fair value is defined at the date of entitling the right.

Accounting for payments based on shares with cash is carried out in other things: the company should measure this kind of remuneration at the fair value of the obligations taken.

The obligation is overestimated at its current fair value at each reporting date and on the execution date, while the fair value changes are reflected in the income statement.

Profit Taxes - IFRS 12

IAS 12 considers only issues related to income tax, including current tax accruals and deferred tax. Consumption for the period on the current income tax is determined by taxable income and declared a taxable expenditure that will be reflected in the tax declaration for the current year. The company recognizes debt in the balance sheet for current income tax expenses for the current and preceding periods within the unpaid amount. The overpayment of current tax is reflected by the company as part of assets.

Current tax assets and liabilities are determined by the amount that, according to the assessment of the leadership, is to be paid to the tax authorities or compensate from the budget according to the current tax rates and legislative standards. Taxes to pay, calculated from the taxable base, rarely coincide with income tax costs calculated on the basis of accounting profits before tax. Non-compliances arise, for example, due to the fact that the criteria for recognizing the income and expenses set forth in IFRS differ from the approach tax legislation To these articles.

Accounting for deferred taxes is designed to eliminate inconsistencies. Deferred taxes are determined by the temporary differences between the tax base of the asset or obligations and its book value in the financial statements. For example, if a positive reassessment of property was conducted and this asset was not sold, a temporary difference arises (the carrying amount of the asset in the financial statements exceeds the cost of the acquisition that is a tax base for this asset), which is a basis for accrualing a deferred tax liability.

Deferred tax is recognized in full at all temporary differences arising between the tax base of assets and obligations and their book value reflected in the financial statements, except when temporary differences arise as a result:

• initial recognition of goodwill (only for deferred tax liabilities);
• not affecting any accounting or taxable profit of the initial recognition of the asset (or obligations) on an operation that is not associated business;
• investing in subsidiaries, branches associated and joint ventures (subject to certain conditions).

Deferred tax assets and liabilities are calculated according to tax rates, the use of which is expected during the implementation of the relevant asset or repayment of the obligation, on the basis of tax rates (and tax legislation), which operated at the reporting date or taken in essentially by the point. Discounting deferred tax assets and liabilities are not allowed.

The assessment of deferred tax liabilities and deferred tax assets should usually reflect the tax consequences that would arise depending on the method by which the company involves compensate or repay the balance value of these assets and liabilities at the end of the reporting period. Estimated way of reimbursement land plots With an unlimited useful life is a sale operation. According to other assets, the method by which the company involves compensate for the balance sheet value of the asset (by using, selling or combinations thereof), is considered to each reporting date. If a deferred tax liability or a deferred tax asset arises as a result of investment property, which is estimated using a fair value model in accordance with IAS 40, then there is a refute the assumption that the carrying value of the investment property will be reimbursed through the sale.

The management recognizes deferred tax assets on subtracted temporary differences only to the extent to which there is a high probability of obtaining taxable income in the future, which can be reduced to the amount of these temporary differences. The same rule applies to deferred tax assets regarding the future of tax losses.

Current and deferred income tax is recognized as part of profit and loss for the period, except when the tax arises due to the acquisition of a business or an operation taken into account outside of profit or loss, as part of other comprehensive income or directly as part of capital in the current or other reporting period. . The accrual of tax associated, for example, with a change in tax rates or tax legislation, the revision of the probability of reimbursement of deferred tax assets or changes in the expected method of assets compensation, refers to the account of profits and losses, except when the specified accrual is associated with the operations of previous periods, Reflected on capital accounts.

Profit per share - IFRS (IAS) 33

Profit per share - an indicator that is often used by financial analysts, investors and other persons to assess the profitability of the company and the cost of its shares. Profit per share is usually calculated in relation to ordinary shares of the company. Thus, the profit coming on the holders of ordinary shares is determined by subtracting its part from the net profit perception of a higher (privileged) level tools.

The company, ordinary shares of which freely turn on the market, should disclose both basic and diluted earnings per share in individual financial statements or in consolidated financial statements if it is the parent company. In addition, legal entities that submit or are in the process of filing financial statements for consideration by the Commission on Securities or another regulatory body for the purpose of emissions of ordinary shares (that is, not for the purpose of closed placement), should also adhere to the requirements of IFRS (IAS) 33.

Basic earnings per share is calculated by dividing profits (loss) for the period accounting for shareholders of a higher parent company, on the weighted average number of ordinary shares in circulation (taking into account the amendments to the premium distribution additional shares between shareholders and a bonus component in the issuance of shares on preferential terms).

Diluted earnings per share is calculated by adjusting the profits (loss) and the weighted average number of ordinary shares on the separating effect of converting potential ordinary shares. Potential ordinary shares are financial instruments and other contractual obligations that can lead to issuance of ordinary shares, such as convertible bonds and options (including options to employees).

Indicators of basic and divergent profits per share as a whole on the company and separately on continuing activities are uniformly disclosed in the statement of comprehensive income (or in the income statement, if the company provides such a report separately) for each category of ordinary shares. Profit per share of terminated activity is disclosed by a separate line directly in the same form of reports or in notes.

Balance with notes

Intangible assets - IFRS (IAS) 38

The intangible asset is an identifiable non-monetary asset that has no physical form. The requirement of identifiable is observed when an intangible asset is separable (i.e., when it can be sold, transferring or protecting the license) or when it is the result of contractual or other legal rights.

Separately acquired intangible assets

Separately acquired intangible assets are initially recognized at cost. The cost is the price of the purchase of an asset, including import duties and non-payment taxes, as well as any direct costs of preparing an asset to use. It is believed that the purchase price of a single acquired intangible asset reflects the market expectations regarding future economic benefits that can be obtained from the asset.

Independently created intangible assets

The process of creating an intangible asset includes research stages and development stage. Study of research does not lead to the recognition of intangible assets in financial statements. Intangible assets arising at the development stage are recognized when the company can simultaneously demonstrate the following:

• Technical feasibility of development
• its intention to complete the development;
• the ability to use or sell an intangible asset;
• how intangible asset will create probable future economic benefits (for example, the availability of a market for products produced by an intangible asset, or for the most intangible asset);
• availability of resources to complete the development;
• your ability to reliably estimate development costs.

All costs written by expenses at the study stage or development stage cannot be restored to include an intangible asset late when the project will meet the criteria for recognizing an intangible asset. In many cases, costs cannot be attributed to the value of any asset and are subject to debiting on costs as it occurs. Do not meet the criteria for recognizing an asset costs associated with the launch of activity and marketing costs. The cost of creating brands, customer databases, printed publications and headings in them and actually goodwill are also not subject to taking into account as an intangible asset.

Intangible assets acquired as a result of business combination

If the intangible asset is acquired during the business association, it is believed that compliance with the recognition criteria, as a result of which the intangible asset will be recognized at the initial accounting of business association, regardless of whether it was previously recognized in the financial statements of the acquired company or not.

Evaluation of intangible assets after initial recognition

Intangible assets are damped, with the exception of assets with an indefinite useful life. Depreciation deductions are accrued on a systematic basis during the useful use of the asset. The useful life of an intangible asset is uncertain if the analysis of all relevant factors indicates the absence of foreseeable restrictions on the period during which this asset is expected to create a clean influx of funds for the enterprise.

Intangible assets with a limited useful use are tested for impairment only if there are signs of possible impairment. Intangible assets with an indefinite useful life and intangible assets that are not yet available for use are tested for impairment at least every year, as well as in the presence of signs of possible impairment.

Fixed assets - IFRS 16

The main funds object is recognized as an asset when it is possible to reliably measure its cost and the likelihood of obtaining the company of future economic benefits associated with it is high. At initial recognition, fixed assets are measured at cost. The cost consists of the fair value of the remuneration paid for the acquired remuneration object (minus any trading discounts and refunds) and any direct costs of bringing the object to a state suitable for operation (including import duties and non-payment taxes).

Direct costs related to the acquisition of the facility of fixed assets include the cost of preparing the site, delivery, installation and assembly, the cost of technical supervision and legal support of the transaction, as well as estimated amount Costs for mandatory dismantling and disposal of the facility of fixed assets and the recultivation of the industrial platform (to the extent that an estimated reserve is created under such costs). Fixed assets (consistently within each class) can be taken into account either at the initial cost less accumulated depreciation and accumulated impairment losses (model of accounting for actual costs), or at the revalued cost less accumulated in the subsequent depreciation and impairment losses (accounting model revaluation). The depreciable value of fixed assets representing the initial cost of the object minus the estimation of its liquidation value is written off systematically during the useful life.

Subsequent costs associated with the facility of fixed assets are included in the balance sheet value of the asset if they satisfy the general recognition criteria.

The object of fixed assets may include components with different useful life. Depreciation deductions are calculated based on the useful life of each component. In the case of replacing one of the components, the replacement component is included in the carrying amount of the asset to the extent that it satisfies the criteria for the recognition of an asset, and at the same time within the balance sheet value of the replaceable components, partial disposal is reflected.

Maintenance costs and overhaul The objects of fixed assets, which is carried out regularly during the entire usefulness of the object, are included in the balance sheet value of the object of fixed assets (to the extent that they satisfy the criteria for recognition) and are depreciated in the intervals between them.

KMFO published an explanation (IFRIC) of 18 "Transfer of assets from customers", which makes clarity in order of accounting for agreements with clients on the transfer of fixed assets to the Contractor as its terms of perpetual services.

Costs of loans

According to IAS 23, "loan costs" enterprises must capitalize loans costs that directly relate to the acquisition, construction or production of a qualified asset to be capitalized.

Investment Property - IFRS (IAS) 40

For the purposes of financial statements, certain real estate objects are classified as investment property in accordance with IAS 40 "Investment Property", since the characteristics of such property are significantly different from the characteristics of the property used by the owner. For users of financial statements, the current value of such property and its change for the period are important.

Investment property is a real estate (land or building, or part of the building, or both), which is in possession in order to obtain rental payments and / or the increase in capital value. All other property is taken into account in accordance with:

• IAS 16 "fixed assets" as fixed assets if these assets are used in the production of goods and services, or
• IAS 2 "stocks" as stocks if the assets are intended for sale in the order of common activities of the company.

At initial recognition, the object of investment property is estimated at actual costs. After the initial recognition of the investment property, management can choose in accounting policies a model of accounting at fair value or model of accounting for actual costs. The selected accounting policy applies sequentially to all objects of the investment property of the enterprise.

If an enterprise chooses accounting at fair value, then in the construction or development process, investment property is estimated at fair value, if such a cost can be reliably defined; Otherwise, investment property is taken into account by actual costs.

Fair value - "This is the price that would be obtained when selling an asset or paid in the transfer of an obligation as a result of a transaction carried out on the organized market between market participants on the evaluation date." Guide to the fair value is provided in IFRS 13 "Evaluation of fair value".

Changes in fair value are reflected in the profit and loss account of the period in which they originated. The accounting model for actual costs involves the accounting of investment property at the cost of its acquisition less accumulated depreciation and accumulated impairment losses (if any), which complies with the rules for taking fixed assets. Information about the fair value of such property is disclosed in notes.

Asset Impairment - IFRS (IAS) 36

Almost all assets are revolving and non-current - to be tested for possible impairment. The purpose of testing is to make sure their book value is not overestimated. The basic principle of recognition of impairment is that the carrying amount of the asset cannot exceed its recoverable value.

The recoverable cost is defined as the largest of two quantities: the fair value of the asset less the cost of selling and the value of use. The fair value less costs for sale is the price that would be obtained when selling asset as a result of a transaction between market participants, on the date of evaluation less than the cost of disposal. Guidance on fair value estimation is represented in IFRS 13 "Evaluation of fair value". To determine the value of using management, it is necessary to estimate future cash flows before tax, expected from the use of an asset, and discount them using a discount rate to tax, which should reflect the current market estimates of the time value of money and the risks characteristic of the asset.

All assets are subject to testing for possible impairment in the presence of signs of the latter. Some assets (goodwill, intangible assets with an indefinite useful life and intangible assets that are not yet available for use) are subject to mandatory annual impairment testing even in the absence of its signs.

When considering the possibility of impairment of assets, they are analyzed as external signs of possible impairment (for example, significant technologies for the company in the field of technology, in economic conditions or legislation or increase interest rates in the financial market) and internal (for example, signs of moral obsolescence or physical injuries of the asset or management accounting data on the existed or expected deterioration economic indicators asset).

Renewable value should be calculated for individual assets. However, assets extremely rarely generate cash flows regardless of other assets, therefore, in most cases, impairment testing is carried out in relation to groups of assets called units generating money. The unit generating money is defined as the smallest identifiable group of assets, which generates a flow of funds, largely independent of cash flows generated by other assets.

The carrying amount of the asset is compared with the recoverable cost. Active or generating funds The unit is considered depreciated when the balance sheet value exceeds the recoverable cost. The amount of such exceeding (impairment amount) reduces the value of the asset or is distributed between the assets of the generating funds of the unit; Impairment loss is recognized on the profit and loss account.

Goodwill, recognized as the initial accounting of business association, is distributed between generating funds by units or their groups that are expected to benefit from the association. However, the highest group generating funds of units in respect of which the testing of goodwill is allowed for impairment, is the operating segment before combining into the reporting segments.

Rental - IFRS (IAS) 17

The lease agreement provides one side (tenant) the right to use the asset during the agreed period in exchange for rent in favor of the Lessor. Rent is an important source of medium-term and long-term financing. Accounting for lease agreements may have a significant impact on the financial statements of both the tenant and the landlord.

There are financial and operating leases depending on which risks and benefits are moving to the tenant. For financial lease All significant risks and benefits associated with the ownership of the lease are transmitted to the tenant. Rent, not falling under the criteria of financial, is an operating lease. The classification of lease is determined at the time of its initial recognition in accounting. In the case of renting buildings, rental of land and rental of the building itself is discussed in IFRS separately.

With the financial lease, the tenant recognizes the leased property as its asset and recognizes the relevant obligation to pay rental payments. Depreciation is charged on the leased property.

The tenant recognizes property leased to the financial lease as receivables. Accounts receivable is recognized in the amount equal to the magnitude of net investments for rent, i.e., in the amount of the expected minimum rental payments, discounted at the internal rate of rental yields, and the non-maritown residual value of the lease object due to the landlord.

When operating lease, the tenant does not recognize asset (and obligations) on its balance sheet, and rental payments, as a rule, reflects on the account of profits and losses, distributing them evenly during the rental period. The landlord continues to recognize the asset leased and amortizing it. Rental receipts are the income of the landlord and in the general case reflected on its account of profits and losses evenly during the lease term. Related operations having a legal form of lease are taken into account on the basis of their economic content.

For example, sales operations with reverse leases, when the seller continues to use the asset, will not be lease in its essence, if the "seller" retains significant risks and benefits associated with the ownership of the asset, i.e. essentially the same right as Before the operation.

The essence of such transactions is to provide funding to the belt-tenant under guarantee of ownership of the asset.

Conversely, some operations that do not have a legal framework are essentially if (as stated in clarification of the CRMFO (IFRIC) 4), the implementation of contractual obligations of one of the parties is related to the use of this party to a specific asset that the counterparty can control physically or economically .

Stocks - IFRS 2

Stocks are initially recognized on the smallest of two magnitudes: the cost and net sales price. The cost of stocks includes import duties, non-reportable taxes, transportation costs, loading and unloading and other costs directly related to the acquisition of reserves, minus any trading discounts and refunds. The net price of sale is the estimated sale price during normal activities less the estimated costs of completing production and the calculated sales costs.

In accordance with IAS 2 "reserves", the cost of reserves that are not interchangeable, as well as those reserves that were allocated for a specific order should be determined for each unit of such reserves. The cost of all other stocks is determined by FIFO FIFO FIFO (first-in, first-out, fifo) or by the formula of the weighted average. The use of the Lifelo Formula "Last arrival is the first vacation" (Last-in, First-Out, Lifo) is not allowed. The company should use the same formula for calculating the cost for all the same type in the nature and sector of stocks. The use of a different formula for calculating cost can be justified in cases where reserves have different nature or apply to the company in different fields of activity. The selected value calculation formula is used sequentially from the period to the period.

Reserves, conditional obligations and conditional assets - IFRS (IAS) 37

The obligation (for the purposes of recognition in financial statements) is the "company's existing obligation arising from past events, the settlement of which is expected to lead to the disposal of resources containing economic benefits." Reserves are included in the concept of obligations and are defined as "obligations with an indefinite period of execution or obligations of an indefinite value."

Recognition and initial measurement

The reserve should be recognized when the company has an existing obligation to transfer economic benefits that arose as a result of any past event, and the likelihood of disposal of resources containing economic benefits (rather there is no place), to resolve such an obligation; In this case, its value can be reliably appreciated.

The amount recognized as an estimate reserve should be the best estimated cost estimate necessary to resolve an existing obligation at the reporting date, in the amount of expected amounts of money required to repay the obligation and presented (discounted), taking into account the impact of the time value of money.

The existing obligation arises as a result of the onset of the so-called binding event and may have a form of a legal or voluntary commitment. A binding event puts the company to the Regulation when it does not have a different choice, except for the fulfillment of the obligation caused by this event. If a company can avoid future costs as a result of its future actions, such a company has no existing obligations and the accrual of the reserve is not required. Also, the company cannot recognize the evaluation reserve only on the basis of its intention to incur cost ever in the future. Estimated reserves are not recognized in relation to expected future operating losses, unless these losses are associated with the burdensome contract.

To recognize an estimated reserve, it is not necessary to wait for the company's obligations to accept the form of a "legal entity" obligation. The company may have the practice in previous years, which indicates to other parties to the fact that the company assumes certain responsibilities, and which has already formed from these parties to the reasonable expectation that the company performs the obligations accepted (this means that the company has a voluntarily accepted on obligation).

If the company is responsible under the contract, which is burdensome for it (the inevitable costs of fulfilling the obligations under the contract exceed the economic benefits expected from the fulfillment of the contract), the existing obligation to such a contract is recognized as an estimated reserve. Prior to the creation of a separate estimated reserve, the Company recognizes impairment losses of any associated assets related to the burdensome contract.

Reserves for restructuring

Special requirements are provided for the creation of estimated reserves on restructuring costs. The estimated reserve is created only if: a) there is a detailed officially adopted restructuring plan, which determines the basic parameters of the restructuring, and b) an enterprise, starting the implementation of the plan for restructuring or bringing its main provisions to all the parties affected by it, created they have established substantive Expectations that the company will conduct restructuring. The restructuring plan does not create an existing obligation at the reporting date, if it is declared after this date, even if the announcement occurred before approving the financial statements. The company does not have any obligations to sell a part of the business until the company is obliged to make such a sale, that is, before the conclusion of the binding agreement on sale.

In the amount of the estimated reserve, only direct costs are included, inevitably associated with restructuring. The costs associated with the ongoing activities of the Company are not subject to reservation. Revenues from the expected disposal of assets in measuring the estimated reserve for restructuring are not taken into account.

Reimbursement

The estimated reserve and the expected amount are reflected separately as an obligation and an asset, respectively. However, the asset is recognized only if it is considered almost indisputable that the reimbursement will be obtained in the case of its duty company, while the amount of recognized reimbursement should not exceed the amount of the evaluation reserve. The amount of expected compensation must be disclosed. The presentation of this article in reducing the recoverable obligation is allowed only in the income statement.

Subsequent assessment

At each reporting date, management should review the value of the evaluation reserve, based on the best assessment of the costs required to resolve the existing obligation at the reporting date. An increase in the carrying amount of the estimated reserve, reflecting the flow of time (as a result of the application of the discount rate), is recognized as percentage consumption.

Subject obligations

The conventional obligations are possible responsibilities, the presence of which will be confirmed only by the onset or the untezzlement of uncertain future events that are not under the control of the company, or existing responsibilities, evaluation reserves for which are not recognized as: a) it is not likely that it will be necessary to fulfill these duties. The disposal of resources containing economic benefits, or b) the value of the obligation cannot be reliably measured.

The conditional obligations are not recognized in the financial statements. Information on the conditional obligations is disclosed in notes to financial statements (including the estimated assessment of their potential impact on financial indicators and signs of uncertainty regarding the value or time of possible disposal of resources), except for the possibility of disposing of resources very small.

Conditional assets

Conditional assets are possible assets, the presence of which will be confirmed only by the onset or the untezzlement of uncertain future events that are not under the control of the company. Conditional assets are not recognized in financial statements.

In the case when the income is practically indisputable, the corresponding asset does not apply to conditional assets and its recognition is appropriate.

Information on conditional assets is disclosed in the notes to the financial statements (including the estimated assessment of their potential impact on financial indicators), if the likelihood of the inflow of economic benefits is large.

Events after the end of the reporting period - IFRS (IAS) 10

To compile financial reporting to companies, as a rule, it takes a time that is the gap between the reporting date and the date of approval of the financial statements to issue. In this regard, the question arises to how to reflect the events in the financial statements that occurred between the reporting date and the date of approval of the financial statements (i.e. events after the end of the reporting period).

Events after the end of the reporting period are either corrective events or events that do not require adjustments. The so-called corrective events provide additional evidence with regard to the conditions that existed at the reporting date, for example, the definition after the end of the reporting year of remuneration for the assets sold by the end of this year. Events that do not require adjustments belong to the conditions resulting from the reporting date, for example, an announcement of the terms of termination of activities after the end of the reporting year.

The balance sheet value of assets and liabilities at the reporting date is formed taking into account corrective events. In addition, the amendment must be made in the case when events after the reporting date indicate the inapplicability of the perpetual activity. In notes to financial statements, information on significant events after the reporting date, which do not require adjustments, such as the issue of shares or a large purchase of business should be disclosed.

Dividends recommended or declared after the reporting date, but before the date of approval of financial statements for release are not recognized as a compliance at the reporting date. Information on such dividends should be disclosed. The company discloses the date of approval of financial statements to the issue and persons claiming its release. If, after the issue of reporting, the owners of the company or other persons are authorized to make changes to financial statements, this fact should be disclosed in the reporting.

Share capital and reserves

Capital, along with assets and obligations, is one of the three elements of the Company's financial situation. The conceptual basis of the preparation and submission of financial statements adopted by the CMFR, capital is defined as the residual share in the company's assets after the credit of all its obligations. The term "Capital" (Equity) is often used as a general category for company equity tools and all its reserves. In financial statements, capital can be designated in different ways: as its own capital investing capital shareholders, authorized capital Both reserves, own funds of shareholders, funds, etc. Category of capital combines components with very different characteristics. The definition of equity tools for the purposes of IFRS and the procedure for their accounting is within the scope of the standard of financial instruments of IAS 32 "Financial Instruments: Presentation in Financial Reporting".

The equity tools (for example, ordinary shares not payable) are usually reflected in the amount of resources received, which are the fair value of the remuneration received less the cost of the transaction. After initial recognition, equity tools are not subject to revaluation.

The reserves include retained profit, as well as reserves related to the assets at fair value, hedging reserves, reserves for the revaluation of fixed assets and reserves of coupling differences, as well as other reserves caused by regulatory requirements.

Own shares, redeemed from shareholders, their own shares are deducted from the total amount of capital. Operations of the purchase, sales, release or repayment of their own equity instruments of the Company are not reflected in the account of profits and losses.

Uncontrolling share

The uncontrolling proportion (previously determined as the "minority share") is submitted in the consolidated financial statements as a separate component of capital, other than share capital and reserves falling for the shareholders of the parent company.

Information disclosure

The new edition of IAS 1 "Representation of Financial Reporting" requires disclosure of various information regarding capital. This includes information about the total magnitude of issued share capital and reserves, submission of a report on capital changes, information on capital management policies and dividend information.

Consolidated and separate financial statements

Consolidated and Separate Financial Statements - IFRS 27

Applicable to companies in EU countries. For companies operating outside the EU, see "Consolidated and Separate Financial Statements - IFRS 10".

IAS 27 "Consolidated and Separate Financial Reporting" requires compiling consolidated financial statements regarding an economically separate group of companies (with rare exceptions). All subsidiaries are consolidated. Under the subsidiary means any company controlled by another, maternal in relation to it, the company. Control is the authority to determine the company's financial and operating policy in order to benefit from its activities. The presence of control is assumed when an investor directly or indirectly owns more than half of the voting of shares (shares) of the investment object, and this assumption is oblivious if there is clear evidence of the opposite. Control may exist at the hold of less than half of the voting of shares (shares) of the Investment Object, if the parent company has the authority to monitor control, for example, through the dominant position on the Board of Directors.

A subsidiary is included in the consolidated reporting from the date of its acquisition, i.e., from the date that control over the net assets and the activities of the acquired company actually moves to the buyer. Consolidated statements are drawn up in such a way as if the parent company and all its subsidiaries were a single enterprise. Operations between the companies of the Group (for example, sales of goods of one subsidiary of another) are excluded at consolidation.

The parent company, having one or more subsidiaries, presents consolidated financial statements, except for cases and fulfills all the following conditions:

• she herself is a subsidiary (in the absence of objections from any shareholder);
• its debt or equity securities do not appeal on the open market;
• the company is not in the process of release valuable papers in open circulation;
• the parent company itself is a subsidiary, and its ultimate or intermediate maternal company publishes consolidated financial statements under IFRS.

There are no exceptions for groups, the proportion of subsidiaries in which is small, or in cases where some subsidiaries have a different activity group of activities other than other companies.

Starting from the date of purchase, the parent company includes the financial results of the subsidiary and reflects its assets and liabilities in the consolidated accounting balance sheet, including goodwill, recognized as the initial accounting of business association (see section 25 "Business Combine - IFRS ( IFRS) 3 ").

In a separate financial statements of the maternal company, investments in subsidiaries, jointly controlled enterprises and affiliates should be recorded at the cost of acquisition or as financial assets in accordance with IAS 39 "Financial Instruments: Recognition and Evaluation".

The parent company recognizes dividends received from his subsidiary company as income in separate financial statements if it has the right to receive dividends. There is no need to establish whether dividends were paid from the profits of a subsidiary received before or after the acquisition. Getting dividends from a subsidiary can be an indicator that the relevant investment may be impaired if the amount of dividends exceeds the total aggregate income of the subsidiary for the period in which dividends are declared.

Special purpose companies

Special Purpose Entity, SPE is a company created for a narrow, well-defined task. Such a company can carry out activities in a given order in such a way that after its formation, no other party will have specific authority to make decisions regarding its activities.

The parent company consolidates special purpose companies if the creature of the relationship between the parent company and the special purpose company indicates that the parent company controls the special purpose company. The control can be predetermined by the procedure for the activities of the special purpose company specified when creating it, or ensured otherwise. It is believed that the parent company controls a special purpose company if it is most of the risks and gets more of the benefits related to the activities or assets of a special purpose company.

Consolidated Financial Statements - IFRS 10

The principles of consolidated financial statements are set out in IFRS 10 "Consolidated Financial Reporting". IFRS 10 defines a single approach to the concept of control and replaces the principles of control and consolidation, prescribed in the initial edition of IAS 27 "Consolidated and individual financial statements" and clarifying the PCR (SIC) 12 "Consolidation of a special purpose enterprise".

In IFRS 10, the requirements are registered with regard to when an enterprise must compile consolidated financial statements, the principles of control are determined, it is explained how to apply them, and also explain the requirements for accounting and to compile consolidated financial statements [IFRS 10, . 2]. The basic principle underlying a new standard is that control exists and consolidation is necessary only if the investor has powers with regard to the investment object, at risk of changes in income from its participation in the object and can use its powers to influence on your income.

In accordance with IAS 27, the control was determined as the authority to manage the company, in accordance with the explanation of the PCR (SiC) 12 - as a risk exposure and the ability to receive income. IFRS 10 reduces these two concepts together in a new definition of control and in the concept of exposure to the risk of income fluctuations. The main principle of consolidation remains unchanged and is that the consolidated enterprise represents reporting in such a way as if the parent company and its subsidiaries form a single company.

IFRS 10 contains guidance on the following issues arising from the definition of one who monitors the object of investment:

• assessment of the purpose and structure of the enterprise - the object of investments;
• the nature of rights - whether they are real rights or rights of protection
• the effect of risk changes in income;
• assessment of the rights of voting and potential votes;
• whether the investor is in the role of the guarantor (principal) or agent when it realizes its right to control;
• the relationship between investors and what the influence of these relationships are on control; and
• the presence of rights and powers only for certain assets.

On some companies, the new standard will have a more significant impact than others. For enterprises with a simple structure of the group, the consolidation process should not change. However, changes can affect companies with a complex group structure or structured enterprises. With the greatest degree of probability, the new standard will affect the following companies:

• enterprises with a dominant investor who does not own a majority voting shares, and the rest of the votes are distributed among a large number of other shareholders (actual control);
• structured enterprises, also known as special purpose companies;
• enterprises that make emissions or have a significant number of potential votes.

In difficult situations, the impact on IFRS-based analysis (IFRS) will have concrete facts and circumstances. IFRS 10 does not contain unambiguous criteria and in assessing control involves consideration of many factors, such as the existence of contractual agreements and rights belonging to other parties. The new standard could be applied early, the requirement of its mandatory application entered into force on January 1, 2013 (from January 1, 2014 in EU countries).

IFRS 10 does not contain any requirements for disclosing information in reporting; Such requirements are contained in IFRS 12: This standard has significantly increased the amount of disclosure required. Enterprises that make up consolidated reporting should plan and implement processes and means of control required in the future to collect information. This may entail the need to preliminary consideration of issues affected by IFRS (IFRS) 12, such as the degree of necessary disaggregation.

In October 2012, the Board of the IFRS 10 (IFRS) 10 (IFRS) 10 (entered into force on January 1, 2014; not approved at the date of issue of this publication) related to the approach of investment companies to accounting by enterprises controlled by them. Companies related to investment in accordance with the applicable definition are exempt from the obligation to consolidate the enterprises controlled by them. In turn, they should reflect these subsidiaries in accounting at fair value through the account of profits and losses in accordance with IFRS 9 (IFRS)

Business Combines - IFRS 3

A business is a deal - this is a deal or event, during which an enterprise ("buyer") receives control over one or more business. IAS 27 defines control as "powers to identify the financial and operating policy of the enterprise in order to extract benefits from its activities." (In accordance with IFRS 10, the investor controls the investment object if the investor is at risk of income changes or has the right to receive such changing income from its participation in the investment facility and can use its powers to influence its income).

Determining which of the enterprises was controlled, a number of factors should be taken into account, such as ownership, control over the Board of Directors and direct agreements between owners on the distribution of controlling functions. It is assumed that control takes place if the enterprise owns more than 50% in the capital of another enterprise.

Business associations can be structured differently. For IFR accounting purposes, the essence of the operation is focused on the basis of the operation, and not its legal form. If there are a number of transactions between the parties involved in the operation, the overall result of a series of interrelated transactions is considered. So, any transaction, the conditions of which are made dependent on the completion of another transaction, can be considered connected. To determine whether the operations should be treated as related, professional judgment is required.

Business associations, with the exception of transactions under general control, are taken into account as acquisitions. In general, the acquisition accounting assumes the following steps:

• establishing a buyer (buying company);
• determining the date of purchase;
• recognition and measurement of acquired identifiable assets and liabilities, as well as the share of participation that does not ensure control;
• recognition and measurement of remuneration paid for the acquired business;
• recognition and measurement of goodwill or profits from purchase

Identifiable assets (including intangible assets that were not previously recognized), the obligations and conditional obligations of the acquired business are generally reflected in their fair value. Fair value is determined on the basis of transactions between independent parties, while the buyer's intentions regarding the further use of acquired assets are not taken into account. In the event of the acquisition of less than 100% of the company's capital, the share of possession, not providing controls. The share of ownership that does not provide control represents a share in the capital of a subsidiary, which does not belong, directly or indirectly, the parent company of the consolidated group. The buyer is given a choice, whether the share of participation does not provide control, at its fair value, or in proportion to the cost of pure identifiable assets.

The total remuneration of the transaction includes funds, their equivalents and the fair value of any other reimbursement. Any equity financial instruments issued as a remuneration are estimated at fair value. If any payment was postponed in time, it is discounted to reflect its current value as of the acquisition date, if the discount result is essential. Remuneration includes only those amounts that were paid to the seller in exchange for control over the enterprise. Payment does not include amounts paid in order to resolve existing relationships, payments that depend on future employee services, and the cost of acquisition.

The payment of compensation can partially depend on the outcome of any future events or from future results of the acquired business ("conditional remuneration"). Conditional remuneration is also reflected at fair value at the date of purchase of the business. The procedure for taking into account the conditional remuneration after the initial reflection on the date of acquisition of the business depends on its classification according to IAS 32 "Financial Instruments: Presentation of Information" - as part of obligations (in most cases will be measured at fair value at the reporting date with the attribution of changes in fair value At the expense of profits and losses) or as part of capital (after initial recognition is not subject to subsequent revaluation).

Goodwill reflects the future economic benefits from those assets that cannot be individually identified and, therefore, are separately recognized on the balance sheet. If the share of possession that does not provide control is taken into account at fair value, the carrying amount of goodwill includes the part of its part that refers to the proportion of non-monitoring. If the share of possession that does not provide control is taken into account in proportion to the value of identifiable net assets, the carrying value of Goodwil will reflect only the share of the parent company.

Goodwill is reflected as an asset that is tested for impairment at least annually or more often if there are signs of possible impairment. In rare cases, for example, when buying a pledge property for a profitable price for the buyer, Goodwill may not arise, but profit will be reflected.

Disposal of subsidiaries, businesses and individual non-current assets - IFRS 5

IFRS 5 "Long-term assets intended for sale, and discontinued activities" apply if any sale is carried out or planned, including the distribution of non-current assets between shareholders. The criterion "intended for sale" in IFRS 5 is applied to non-current assets (or dropdown in groups), the cost of which will be reimbursed mainly through the sale, and not continuing use in current activities. It does not apply to assets that are derived from operation are in the process of liquidation or disposal. IFRS 5 defines the departing group as a group of assets intended for simultaneous during a single operation, disposal by selling or other actions, and commitments directly related to these assets that will be transferred as a result of this operation.

The long-term asset (or the departing group) is classified as intended for sale if it is available for immediate sales in its current state and such a sale is highly likely. The high degree of probability of sale is determined by the implementation of the following conditions: there is evidence of the management of the obligation to sell an asset, there is an active program for finding the buyer and the sale of a sales plan, an active exposure to the asset is carried out for sale at a reasonable price, the completion of the sale operation is expected for 12 months From the date of classification and the actions necessary to fulfill the plan, indicate a low probability that there will be significant changes in the plan or that it will be postponed.

Long-term assets (or drop-down groups) are classified as intended for sale:

• measured by the smallest of two values \u200b\u200b- their book value and fair value less costs for sale;
• do not amortize;
• the assets and obligations of the departure group are reflected separately in the balance sheet (no credit is allowed between the articles of assets and obligations).

Terminated activity is a component of an enterprise, which, with a financial and operating point of view, can be separated in the financial statements from the rest of the enterprise's activities and:

• represents a separate significant type of activity or geographical area of \u200b\u200boperations,
• is part of a unified coordinated plan for the disposal of a separate significant type of activity or a large geographical area of \u200b\u200boperations or
• he is a subsidiary acquired solely for the purpose of subsequent resale.

The activity is classified as discontinued from the moment when its assets are reached as a classification criteria as intended for sale or when the disposal of this activity has occurred from the enterprise. Although the information presented in the balance sheet is not recalculated and is not overestimated into part of the termination, the report on the total income must be recalculated for the comparative period.

Terminated activities are submitted separately in the statement of profit and loss and in the cash flow report. Additional requirements regarding disclosure of disclosure activities are provided for notes to financial statements.

The date of disposal of the subsidiary or the departure group is the date of the control. The consolidated profit and loss statement includes the results of the subsidiary or the departure group over the entire period before the date of disposal; Revenues or losses from disposal are calculated as the difference between (a) the sum of the book value of net assets and relating to the departing subsidiary or a goodwill group, as well as the amounts accumulated in other comprehensive income (for example, exchange differences and a reserve for changing the fair value of financial assets, available for sale); and (b) revenue from the implementation of the asset.

Investments in associates - IFRS 28

According to IAS requirements, 28 "Investments in associate and joint ventures" shares of participation in such enterprises should be recorded according to the equity method. Associated enterprise is an enterprise whose activities have a significant impact and which is neither a subsidiary of the investor, nor his joint venture. Significant influence is the right to participate in decision-making on financial and operating policy of investment facility without monitoring the indicated policies.

It is assumed that the investor has a significant impact if he owns 20 or more percent of the voting rights in relation to the investment object. Conversely, if the investor owns less than 20 percent of the rights of the voting in relation to the investment object, it is assumed that the investor does not have a significant impact. These assumptions may be refuted if there are convincing evidence of the opposite. The revised IAS 28 was released after the publication of IFRS 10 "Consolidated Financial Reporting", IFRS 11 "Joint Activities" and IFRS 12 "Disclosure of Participation Information in other Enterprises" and contains a requirement for accounting Shares in joint ventures according to the method of equity participation. The joint venture is a joint activity within which parties carrying out joint controlhave the right to net assets within this activity. These amendments are applied from January 1, 2013 (for companies in EU countries - from January 1, 2014).

Associated and joint ventures are taken into account by the equity method, except in cases where they meet the criteria for recognition as assets intended for sale, in accordance with IFRS 5 "long-term assets intended for sale and discontinued activities." According to the method of equity participation, investments in the associated enterprise are initially recorded at the cost of their acquisition. In the future, their book value increases or decreases to the share of the investor in profit or loss and other changes in the net assets of the associated enterprise over the following periods.

Investments in associate or joint ventures relate to non-current assets and are represented by one line of the balance sheet (including goodwill arising from their acquisition).

Investments in each individual associated or joint venture are tested as a single asset for possible impairment in accordance with IFRS (IAS) 36 "Impairment of Assets" in the presence of signs of impairment provided in IAS 39 "Financial Instruments: Recognition and Assessment".

If the investor's share in losses of an associate or joint venture exceeds the balance sheet value of its investment, the balance sheet value of the investment in the associated enterprise decreases to zero. Additional losses are not recognized by the investor, except in cases where the investor has an obligation to finance an associate or joint venture or a guarantee of ensuring an associate or joint venture.

In a separate (unconvillant) financial statements of the investor, investments in associate or joint ventures may be reflected in the cost of their acquisition or as financial assets in accordance with IAS 39.

Joint companies - IFRS (IAS) 31

For companies outside the EU, IFRS 11 "Joint Activities" is applied. Joint Entrepreneurship is a contractual agreement between two or more parties, in which the adoption of strategic financial and operational solutions requires unanimous approval of the parties to jointly control.

The company can conclude an agreement on the other side of the joint venture (with or without education legal entity) for many reasons. In the simplest form, the joint venture does not lead to the creation of a separate enterprise. For example, "strategic unions", within which companies agree to interact to promote their products or services, can also be considered joint venture. To determine the presence of strategic entrepreneurship, it is necessary, first of all, to determine the presence of contractual relations aimed at establishing controls between two or more parties. Joint entrepreneurship is divided into three categories:

• jointly controlled operations
• jointly controlled assets,
• jointly controlled enterprises.

The accounting approach to the joint venture depends on the category to which it relates.

Shared controlled operations

The jointly controlled operation provides for the use of assets and other resources of participants instead of creating a corporation, partnership or other enterprise. [IAS 31, p. 13].

The participant of the jointly controlled operation should recognize in its financial statements:

• the assets he controls and the obligations assumed;
• the costs he carries and the share of income that he receives from the sale of goods or services produced in the framework of joint venture.

Shared controlled assets

Some types of joint entrepreneurship suggest joint control of its participants over one or more assets made or acquired for the purposes of this joint activity. As in the case of jointly controlled operations, these types of joint ventures do not imply institutions of the Corporation, a partnership or other enterprise. Each participant in joint venture receives control over its part of future economic benefits through its share in a jointly controlled assets. [IAS 31, PP. 18 and 19].

In relation to its share in jointly controlled assets, a participant in activities jointly regulating assets should recognize in its financial statements:

• its share of jointly controlled assets classified in accordance with the nature of these assets;
• any obligations committed themselves;
• its share of obligations adopted jointly with other participants in joint venture regarding this joint venture;
• any income from the sale or use of its share in the products of the joint venture, as well as its share of expenses incurred by a joint venture;
• any expenses incurred by him in connection with his share of participation in this joint venture.

Jointly controlled enterprises

The jointly controlled enterprise is the type of joint entrepreneurship, which involves the creation of a separate enterprise, such as a corporation or partnership. Participants transfer assets or capital to a jointly controlled enterprise in exchange for a share of participation in it and, as a rule, assign members of the Board or Managing Committee to oversee operating activities. The level of applicable assets or capital or the received participation share does not always reflect the presence of control over the enterprise. For example, if two participants make 40% and 60% of the initial capital for the purposes of creating a jointly controlled enterprise and agree to share profits in proportion to their contributions, the joint venture will exist, provided that the participants concluded an agreement on joint control over the economic activity of the enterprise.

Co-controlled enterprises can be recorded or by the method of proportional consolidation, or by the equity method. In cases where the participant sends a non-monetary asset to a jointly controlled enterprise in exchange for a share of participation in it, appropriate instructions and instructions apply.

Other joint ventures

Some participants of the contractual agreement may not be among the participants carrying out joint control. Such participants are investors who reflect their shares in accounting in accordance with the leadership applicable to their investments.

Joint Activities - IFRS 11

Joint activities are activities on the basis of an agreement that provides two or more parties to jointly control over activities. Joint control is only when making decisions regarding significant activities requires unanimous approval of the parties to jointly control.

Joint activities can be classified as joint operations or joint ventures. The classification is based on the principles and depends on the degree of influence of the parties to activities. If the parties have only rights to net assets, then activities are a joint venture.

Participants in joint operations are endowed with the rights to assets and liability for obligations. Joint operations are often carried out not within the framework of the individual organization. If joint activities are allocated to a separate enterprise, it may be a joint operation or joint venture. In such cases, a further analysis of the organizational and legal form of the enterprise, the terms and conditions included in the contractual agreements, and sometimes other factors and circumstances are necessary. This is because in practice, other facts and circumstances may prevail over the principles determined by the organizational and legal form of a separate enterprise.

Participants in joint operations recognize their assets and liability for obligations. Participants of joint ventures recognize their share of participation in a joint venture on equity method.

Other questions

Disclosure of related Parties - IAS 24

In accordance with IAS 24, 24 companies must disclose information about the operations with related parties. The company's associated parties include:

• maternal enterprises;
• subsidiaries;
• subsidiaries of subsidiaries;
• associated enterprises and other members of the group;
• joint ventures and other members of the group;
• persons who are part of the key management personnel of an enterprise or maternal enterprise (as well as their relatives);
• control persecution, joint control or a significant impact on the enterprise (as well as their close relatives);
• companies governing employee remuneration plans at the end of employment.

The company's main lender, which has an impact on the company only by virtue of its activities, is not its associated party. The management reveals the name of the maternal company and the final controlling side (which can be an individual), if it is not a parent company. Information on the relationship between the parent company and its subsidiaries is disclosed regardless of whether the operation was carried out between them or not.

If operations with related parties were conducted in the reporting period, management discloses the nature of the relationships that make parties related, and information on operations and amounts of transactions for transactions on operations, including contractual obligations necessary to understand their impact on financial statements. Information is revealed in total by homogeneous categories of related parties and for homogeneous types of operations, except when, to understand the impact of operations with related parties, the Company requires a separate disclosure of any operation. The manual discloses information that the operations with a related party were carried out on the conditions identical to the conditions on which operations are carried out between unrelated parties, only if such conditions can be justified.

The company is exempt from the fulfillment of information disclosure requirements regarding operations with related parties and balances on such operations, if relations between related enterprises are due to the fact that the state monitors or has a significant impact on the enterprise; Or there is another enterprise that is a related party, because the same state bodies monitor or have a significant impact on the enterprise. If an enterprise applies exemption from such requirements, it should disclose the name of the state body and the nature of its relationship with the enterprise. It also discloses information on the nature and amount of each individual significant operation, as well as high-quality or quantitative indicators of the scale of other operations that are not significant separately, but in the aggregate.

Report on cash flow - IFRS (IAS) 7

A report on cash flow is one of the main forms of financial statements (along with the report on the total income, accounting balance sheet and the report on changes in capital). It reflects information on the receipt and use of funds and their equivalents by type of activity (operating, investment, financial) for a certain period of time. The report allows users to evaluate the company's ability to generate cash flows and use them.

Operating activities are the activities of the company, bringing it the main income, revenue. Investment activities are the acquisition and sale of non-current assets (including business associations) and financial investments that are not monetary equivalents. Under financial activities are the operations leading to a change in the structure of own and borrowed funds.

Management can form data on cash flow from operating activities by direct method (reflecting gross cash flows on homogeneous groups of revenues) or indirect (presenting the adjustment of net profit or loss by eliminating the effects of operations that are not related to operating activities, non-monetary operations and changes in working capital).

For investment and financial activities, cash flows are recorded (i.e., separately by groups of the same type of operations: gross cash receipts and gross cash payments) with the exception of several specially specified conditions. Cash flows associated with obtaining and paying dividends and interest are disclosed separately and are classified sequentially from the period as an operating, investment or financial activity, depending on the nature of the payment. Profit tax flows are shown separately as part of operating activities, unless the appropriate cash flow can be attributed to a specific operation within financial or investment activities.

The total outcome of the cash flow from the operating, investment and financial activities is a change in the balance of cash accounts and their equivalents during the reporting period.

Separately, information should be presented on significant non-monetary operations, such as, for example, the issuance of their own shares to acquire a subsidiary, the acquisition of assets in the barter, the debt conversion in stock or the acquisition of assets through the financial lease. Non-monetary operations include recognition or reversing impairment losses; depreciation and depreciation; Profit / losses from a change in fair value; Accrual of reserves by profits or loss.

Intermediate Financial Statements - IAS 34

In IFRS, there is no requirement to publish interim financial statements. However, in a number of countries, the publication of interim financial statements is either obligatory or recommended, especially public companies. The AIR rules do not require the application of IAS 34 in the preparation of reporting for six months. Companies registered with AIR can either prepare financial statements for six months in accordance with IAS 34, or disclose information in the minimum amount in accordance with the 18 AIR Rule.

In the event that the company decides to publish interim financial statements in accordance with IFRS, IAS 34 "Interim Financial Reporting" is applied, which sets out the minimum requirements for the content of interim financial statements and the principles of recognition and measurement included in the interim financial statements. economic operations and balances on balance accounts.

Companies can prepare a complete set of financial statements under IFRS (in accordance with the requirements of IAS 1 "Presentation of Financial Reporting") or abbreviated financial statements. Preparation of abbreviated financial statements is a more common approach. Abbreviated financial statements include a reduced financial statement (accounting balance), a reduced report or income reports and other aggregate income (income statement and report on other cumulative income, if they are presented separately), a reduced traffic report Cash, a reduced report on changes in share capital and selective notes.

As a rule, the company applies the same accounting policy to recognize and evaluate assets, obligations, revenues, expenses, profits and losses both to prepare reporting for intermediate dates and for financial reporting for the current year.

There are special requirements for evaluating certain costs that can only be calculated on an annual basis (for example, taxes that are determined on the basis of the estimated effective rate for the full year), as well as the use of estimated indicators in the interim financial statements. Impairment loss recognized in the previous intermediate period of goodwill or investment in equity tools or financial assets reflected by actual valueis not reversed.

As a mandatory minimum, information in the interim financial statements is disclosed for the following periods (abbreviated or full):

• a statement of financial position (accounting balance) - as of the end of the current intermediate period and comparative data at the end of the previous fiscal year;
• profit and loss statement and other aggregate income (or if they are presented separately, income statement and report on other aggregate income) - data for the current intermediate period and for the current fiscal year before the reporting date with the presentation of comparative data for similar periods (intermediate and a year before the reporting date);
• report on cash flow and report on capital changes - for the current financial period before the reporting date with the presentation of comparative data for the same period of the previous fiscal year;
• notes.

IAS 34 establishes some criteria to determine which information is subject to disclosure in interim financial statements. They include:

• materiality in relation to the interim financial statements as a whole;
• non-standard and irregularity;
• variability compared with previous reporting periods, which have a significant impact on intermediate financial statements;
• relevance to understand the estimated indicators used in the interim financial statements.

The main goal is to provide users of interim financial statements of full information, which is important for understanding the financial situation and financial results of the company during the interim period.

Concession agreements on the provision of services - Explanation of the PCR (SIC) 29 and clarification of the KMFO (IFRIC) 12

Currently, there is no separate IFRS standard for concession agreements in the field of public services concluded by government agencies with the private sector. In clarification of the CRMFO (IFRIC) 12 "Concession agreements for the provision of services", various standards are interpreted that establish requirements for accounting for concession agreements on the provision of services; Clarification of the PCR (SIC) 29 "Disclosure of information: concession agreements for the provision of services" contains requirements for disclosing information.

Clarification of KMFO (IFRIC) 12 applies to concession agreements in the field of public services, according to which a state body (copyright holder) controls and / or regulates the services provided by a private company (operator) using an infrastructure controlled by the copyright holder.

Usually in concession treaties, it is indicated who must provide the operator's services and at what price. In addition, the copyright holder must control the residual value of all substantial infrastructure facilities.

Since infrastructure objects are controlled by the copyright holder, the operator does not reflect the infrastructure as part of fixed assets. The operator also does not recognize the financial lease receivables in connection with the transfer of infrastructure facilities constructed by him under the control of the state body. The operator reflects the financial asset if he has an unconditional right to receive funds regardless of the infrastructure intensity. The operator reflects an intangible in the event that (license) for charging fees from users of public services.

As in the case of the recognition of financial assets, and in the case of the recognition of an intangible asset, the operator takes into account the income and expenses associated with the right holder of services for the construction or modernization of infrastructure facilities, in accordance with IAS 11. The operator recognizes income and expenses related to The provision of services for the use of infrastructure, in accordance with IFRS (IAS), 18. Contractual obligations to maintain the working state of the infrastructure (with the exception of modernization services) are recognized in accordance with IAS 37.

Accounting and reporting on pension plans - IFRS 26

FINANCE reporting on the pension plan, compiled in accordance with IFRS, must meet the requirements of IFRS (IAS) 26 "Accounting and Reporting on Pension Plans". All other standards apply to the financial statements on pension plans in the part where they do not replace IFRS (IAS) 26.

In accordance with IAS 26, the financial statements of the pension plan with established contributions should include:

• report on net pension plan assets that can be used for payments;
• report on changes in net assets of the pension plan, which can be used for payments;
• description of the pension plan and any changes in terms during this period (including their impact on the reporting indicators of the plan);
• description of the financing policy of the pension plan.

In accordance with IAS 26, the financial statements of the Pension Plan with established payments should include:

• the report representing the net assets of the pension plan, which can be used for payments, and the actuarial (discounted) cost of pensions due, as well as the final surplus / deficit of the pension plan or a reference to this information in the actuar report attached to the financial statements;
• report on changes in net assets that can be used for payments;
• report on cash flow;
• the main states of accounting policies;
• description of the Plan and any changes in terms of period (including their impact on the reporting indicators of the plan).

In addition, financial statements should include an explanation of the relationship between the actuarial present value of pensions due and net assets of the pension plan, which can be used for payments, as well as a description of the financing policy of pension obligations. Investments that constitute the assets of any pension plan (both established payments and established contributions), are recorded at fair value.

Estimation at fair value - IFRS 13

IFRS 13 determines the fair value as "the price that would be obtained when selling an asset or paid when transferring obligations in the conclusion of a transaction carried out in the organized market, between market participants on the date of the assessment" (IFRS (IFRS) 13, p. 9 ). The main thing here is that fair value is a closed price from the point of view of market participants who hold an asset or have a commitment to the evaluation date. Such an approach is based, rather, on the point of view of the market participants than at the point of view of the enterprise itself, therefore, the fair value does not have any influence of the enterprise's intention regarding the asset or capital estimated at the fair value.

To estimate fair value, management should determine the four points: a specific asset or commitment that is an assessment object (corresponding to its metering unit); most effective use non-financial asset; main (or most attractive) market; Evaluation method.

From our point of view, many of the requirements set forth in IFRS 13 mainly correspond to the practice of assessment, which is already applied today. Thus, IFRS 13 is unlikely to lead to numerous significant changes.

However, some IFRS changes (IFRS) 13 still introduces, namely:

• fair value hierarchy for non-financial assets and liabilities similar to the one that currently prescribes IFRS 7 for financial instruments;
• requirements for determining the fair value of all obligations, including derivatives, on the basis of the assumption that the obligation will be rather transmitted to the other party than is settled or repaid in another way;
• cancellation requirements for the use of the price of offering and demand for financial assets and financial obligations, respectively, which are actively listed on the stock exchange; Instead, the most representative price should be used in the range of price pricing and supply;
• requirements for the disclosure of additional information related to the fair value.

In IFRS, 13 considers the question of how to evaluate the fair value, but does not specify when fair value may or should be applied.

amounts of reassessment of programs with established payments (see IFRS (IAS) 19);

profit and losses arising from the recalculation of the financial statements of a foreign division into another currency (see IAS 21);

profit and losses in the revaluation of financial assets available for sale (see IAS 39 "Financial Instruments: Recognition and Evaluation");

efficient part of profits and losses on hedging tools when hedging cash flows (see IAS 39).

Owners - Tool holders classified as equity.

Profit or loss - The total amount of income less expenses, excluding the components of other comprehensive income.

Reclassification adjustments - Amounts reclassified by profits or loss in the current period, which were recognized as part of other aggregate income in the current or previous periods.

The total aggregate income is a change in its own capital, which emerged in the reporting period as a result of operations and other events other than those changes that arose as a result of operations with owners acting in this capacity.

The total aggregate income includes all the components of "profit or loss" and "other aggregate income."

Significance and aggregation

29 The organization must submit every significant class of similar articles separately. The organization must separately submit articles that differ in nature or appointment, except when they are insignificant.

30 Financial statements is the result of processing a large number of operations or other events that are combined into classes taking into account their nature or destination. The final stage of the process of aggregation and classification is to present compressed and classified data, which form financial statements. If any reporting article is not essential, it combines with other articles or directly in financial reports or in notes. With regard to the article, which is not essential enough for a separate presentation directly in these reports, it can be justified its separate representation in the notes to them.

31 There is no need to disclose the organization of certain information required by any IFRS if this information is not significant.

Collecting

32 The organization should not be submitted on a net-based assets and liabilities or income and expenses, except when it is required or permitted by any IFRS.

33 The organization presents separate assets and liabilities, as well as income and expenses. The implementation of the reconnaissance in the report (reports) on profit or loss and other aggregate income or financial position, except when the situation reflects the essence of the operation or another event, it makes it difficult for users as an understanding of perfect operations, other events that have arisen and conditions and the forecasting of future cash The flow of organization. Assets assessment in net value less estimated reserves - for example, estimation of stocks minus an estimated reserve for their obsolescence or assessment of receivables minus an estimated reserve for doubtful debts - is not a closer.

34 IAS 18 "Revenue" gives the definition of revenue and requires it to be estimated at the fair value of the compensation received or to be obtained, taking into account the sum of any trade discounts provided by the organization and concessions for the purchased volume. In the course of its usual activity, the organization performs other operations that do not lead to the emergence of revenue, but are associated with respect to the basic generating revenue of the organization's activities. The organization presents the results of such operations in the net magnitude of income and related costs arising from the same operation when such a representation reflects the essence of the corresponding operation or another event. For example:

the organization represents profit and losses from the disposal of non-current assets, including investments and operational assets, through the deduction of the carrying amount of the accommodated asset and related to its sale expenses from the amount of revenues from its disposal; and

the organization may submit on a net-based costs that relate to the evaluation obligation recognized in accordance with IAS 37 "Estimated obligations, conditional obligations and conditional assets", and the amount of compensation obtained in relation to this appraisal obligation under the relevant agreement with The third person (for example, the provider's warranty commitments).

35 In addition, the organization presents on a net-based profit and losses arising over a group of similar operations, such as positive and negative coursework or profits and losses arising from financial instruments intended for trade. However, the organization presents such profits and losses separately if they are essential.

Periodicity of reporting

36 The organization must submit a complete set of financial statements (including comparative information) at a minimum annually. In the event that the organization changes the date of the end of its reporting period and presents financial statements for the period, longer than one or less than one year, the organization should be disclosed in addition to the period for which financial statements are compiled:

base for the use of a period of greater or less duration, and

the fact that the amounts submitted in the financial statements are not fully comparable.

37 Typically, the organization consistently constitutes financial statements for the annual period. However, based on practical considerations, some organizations prefer to report, for example, for the period of 52 weeks. This standard does not interfere with this practice.

Comparative information

The minimum required comparative information

38 Except when other IFRS permit or require another, the organization must provide comparative information for the previous period in all amounts reflected in the financial statements for the current period. The organization should include comparative information regarding the information of the descriptive and explanatory nature, if it is appropriate to understand the financial statements for the current period.

38A. The organization should submit at least two financial statements, two reports on profit or loss and other aggregate income, two separate report on profit or loss (if applicable), two reports on cash flow and two reports on changes in their own capital, and also related notes.

38b. In some cases, high-quality information presented in the financial statements for the previous period (previous periods) continues to be relevant for the current period. For example, an organization discloses in the current period the details of a non-regulatory trial, the outcome of which to the end of the previous period was uncertain. For users, information may be important that the end of the previous period existed uncertainty, as well as information on measures that were taken by the organization during the period to resolve this uncertainty.

Additional comparative information

38C. The organization may present comparative information in addition to the minimum necessary comparative financial statements required by IFRS, if this information is compiled in accordance with IFRS. Such comparative information may consist of one or more reports mentioned in paragraph 10, but it should not necessarily be a complete set of financial statements. In the case of the submission of these additional reports, the Organization should represent and relate to them notes.

38d For example, an organization may submit a third earnings report or loss and other aggregate income (thereby presenting information over the current period for the previous period and for one additional comparative period). However, the organization is not obliged to submit a third statement of financial position, the third report on cash flow or the third report on changes in its own capital (ie, additional comparative financial reports). In notes to its financial statements, the organization must submit comparative information relating to the above-mentioned income or loss report and other aggregate income.

39–40 [Removed]

Change accounting policies, retrospective correction or reclassification

40A. The organization should submit a third statement about the financial position as of the beginning of the previous period in addition to the required minimum of comparative financial statements under paragraph 38a, if:

it retrospectively applies any position of the accounting policy, makes a retrospective correction of articles in its financial statements or reclassify articles in its financial statements; and


specified retrospective application, retrospective correction or reclassification have a significant impact on the information in the statement of financial position at the beginning of the preceding period.

40b. In the circumstances described in paragraph 40a, the organization must submit three financial status reports as of state:

at the end of the current period;

at the end of the preceding period;

at the beginning of the previous period.

40C. In the case when the organization is obliged to submit an additional financial statement in accordance with clause 40a, it must disclose the information required by paragraphs 41-44 and IAS 8. However, it is not obliged to submit other notes to the introductory report on the financial position on The beginning of the preceding period.

40d. The date, as of which the specified introductory statement is compiled, should be the date of the beginning of the previous period, regardless of whether the financial statements of the organization contains comparative information for earlier periods (as permitted by paragraph 38C).

41 If the organization changes the procedure for submitting or classifying articles in its financial statements, it should also reclassify comparative sums, except when reclassification is practically impracticable. When the organization reclassifies comparative amounts, it should be disclosed (including as of the beginning of the previous period) the following:

the nature of reclassification;

the amount of each article or class of articles, which are reclassified;

the reason for reclassification.

42 In the event that the reclassification of comparative sums is practically impracticable, the organization must disclose the following:

the reason for which these amounts are not recharged; and

the nature of the adjustments that would be produced if the specified amounts were reclassified.

43 Increasing the comparability of information relating to different periods, Helps users to make economic decisions, especially allowing users to track trends in financial information for forecasting purposes. In some circumstances, it is practically impossible to reclassify comparative information for a certain previous period to achieve comparability with the current period. For example, in the previous period (periods), the data could be collected in such a way that it does not allow the organization to reclassify, while the recreation of the necessary information can be practically impossible.

44 IAS 8 provides requirements in terms of adjusting comparative information in relation to cases when an organization changes any position of its accounting policy or corrects an error.

Sequence of representation

45 The organization should use the same procedure for submitting and classifying articles in the financial statements from the period by the period, except when:

a significant change in the nature of the organization's operations or the revision of its financial statements does not allow no doubt that another procedure for submission or classification would be more appropriate, given the criteria for the selection and application of accounting policies provided for by IFRS (IAS); or

one of the IFRS requires a change in the order of the presentation.

46 Significant acquisition or disposal or revision of the procedure for submitting financial statements could indicate the need for a different procedure for presenting information in the financial statements.

Example 1.

The organization changes the procedure for submitting its financial statements only in cases where the new procedure allows you to submit information that is reliable and more appropriate for users of financial statements, and at the same time it is likely that the revised structure will be used in the future in order to preserve the comparability of information.

When making such changes, the organization will reclassify its comparative information in accordance with paragraphs 41 and 42.

Structure and content

Introduction

47 This standard requires disclosure of certain information in a statement of financial position, or in the report (reports) on profit or loss and other aggregate income, or in a report on changes in its own capital, and also requires disclosure of other articles or directly in the specified reports or in Notes. IAS 7 "Report on cash flow" establishes requirements for reporting information on cash flows.

48 In this standard, the term "disclosure of information" is sometimes used in a broad value covered by articles submitted in financial reports. Other IFRS also contains requirements for disclosure. Unless otherwise provided by this standard or other IFRS, then such disclosure can be carried out in financial reports.

Identification of financial statements

49 The organization must clearly denote and allocate financial statements from other information published together with it in one document.

50 IFRS apply only to financial statements, and their action does not necessarily apply to other information presented in the annual report, in the report of the regulatory authority or in another document. Therefore, it is important that users can distinguish information prepared in accordance with IFRS, from other information that can be useful for them, but not to be the object of the requirements of these standards.

51 The organization must clearly designate every financial report and notes. In addition, the organization must accommodate the following data in the prominent place and repeat them when necessary for the correct understanding of the information provided:

the name of the reporting organization or other methods of its identification, as well as any change in these data compared to the previous reporting period;

is this financial statement reporting of a separate organization or group of organizations;

the end date of the reporting period or the period to which this set of financial statements or notes belongs;

the currency of submission of financial statements, as this term is defined in IAS 21;

the degree of rounding the amounts submitted in the financial statements.

52 To fulfill the requirements of paragraph 51, the organization makes appropriate page headers, reports, notes, columns, and the like. To determine the best way to submit such information, it is required to apply judgment.

Example 2.

When an organization presents financial statements in in electronic format, not always used breakdown to individual pages; Then the organization includes the above headlines to ensure the correct understanding of the information contained in the financial statements.

53 Often, the organization presents information in thousands or millions of units of financial reporting currency to make financial statements more understandable. This approach is permissible if the organization reveals the number of rounding the number and does not omit substantial information.

Financial Statement

Information submitted in the statement of financial position

54 The financial statement should include at least the articles representing the following values:

(a) fixed assets;

(b) investment real estate;

(c) intangible assets;

(d) financial assets (with the exception of the values \u200b\u200bspecified in subparagraphs (E), (H) and (I));

(e) investments taken into account using the equity method;

(f) biological assets;

(g) stocks;

(h) trading and other receivables;

(i) cash and cash equivalents;

(j) the total amount of assets classified as intended for sale, and assets included in the departure groups classified as intended for sale in accordance with IFRS 5 "non-current assets intended for sale and terminated activities";

(k) trading and other payables;

(L) Evaluation obligations;

(m) financial obligations (with the exception of the values \u200b\u200bspecified in subparagraphs (K) and (L));

(n) obligations and assets under the current tax, as defined in IFRS (IAS) 12 "income tax";

(o) deferred tax liabilities and deferred tax assets as defined in IAS 12;

(p) commitments included in the departure groups classified as intended for sale in accordance with IFRS 5;

(q) uncontrolled participation shares presented in equity;

(R) Released Capital and Reserves

55 The organization must submit additional articles, headlines and intermediate results in a financial statement report, when such a submission is appropriate to understand the financial position of the Organization.

56 When an organization represents revolving and non-current assets and short-term and long-term obligations as separate classification groups in their statement of financial position, it does not classify deferred tax assets (obligations) as turnover assets (short-term liabilities).

57 This Standard does not prescribe a sequence or format in which the organization submits articles. Paragraph 54 simply leads a list of articles that are sufficiently different in character or appointment so that they should be submitted in the statement of financial position separately. Moreover:

the need to include reporting items occurs when the size, nature or purpose of any article or a set of similar articles is such that to understand the financial position of the organization it is appropriate to submit them separately; and

the names used and the sequence of articles or the set of similar articles can be refined in accordance with the nature of the organization and operations to provide information that is appropriate to understand the financial situation of this organization. For example, the Financial Institute can change the above names to provide information corresponding to the activities of the Financial Institute.

58 The organization makes a judgment on whether additional articles should be submitted separately by accepting:

nature and liquidity of assets;

appointment of assets within the organization; and

the magnitude, nature and timing of the repayment of obligations.

59 The use of different assessment databases for different assets classes suggests that the nature or functions of assets in these classes differ and, therefore, the organization represents them as separate articles. For example, different classes of fixed assets can be reflected at initial cost or revalued value in accordance with IFRS (IAS) 16.

Separation of assets and liabilities on short-term and long-term

60 In its financial statement, the organization should separately represent revolving and non-current assets, as well as short-term and long-term obligations in accordance with paragraphs 66-76, except when the method of representing the degree of liquidity provides reliable and more appropriate information. If the specified exception is applied, the organization should represent all assets and liabilities in their liquidity.

61 Whatever way of submitting an organization has taken, it should disclose the amount, compensation or repayment of which is expected after more than twelve months, in relation to each article of assets and obligations, which combines the amount, compensation or repayment of which are expected:

within twelve months after the end of the reporting period, and

after more than twelve months after the end of the reporting period.

62 In cases where the organization carries out the supply of goods or services within a well-identifiable operational cycle, a separate classification of assets and liabilities in a statement of financial position on revolving (short-term) and non-current (long-term) will provide useful information, since it allows you to delimit net assets constantly Applying as working capital, and net assets used in the long-term activities of the Organization. It also allows you to highlight assets, the implementation of the value of which is assumed within the current operational cycle, and the obligations to be repurchased within the same period.

63 For some organizations, such as financial institutions, the presentation of assets and liabilities, in order of increasing or decrease in liquidity, provides reliable and more appropriate information compared with the presentation of them with a division on turnover (short-term) and non-current (long-term), since such an organization does not supply goods or services within a clearly identifiable operational cycle.

64 Organizations are allowed when applying clause 60 to represent one part of its assets and liabilities with a division into round-term (short-term) and non-current (long-term), and their other part is in liquidity, if there is thus a presentation of reliable and more relevant information. The need to use a mixed basis of the presentation may arise in cases where the organization carries out various activities.

65 Information on the estimated deadlines for the implementation of assets and liabilities is useful for assessing the liquidity and solvency of the organization. IFRS 7 "Financial Instruments: Information Disclosure" requires disclosure of information on the maturity of financial assets and financial obligations. Financial assets include trade and other receivables, and financial liabilities include trade and other payables. Information on the estimated periods of compensation for non-monetary assets, such as reserves, and the estimated mortgage periods, such as evaluation obligations, is also useful, regardless of whether assets and liabilities are classified as turnover (short-term) or non-current (long-term). For example, an organization discloses information about the value of reserves, the reimbursement of the value of which is expected after the twelve months after the end of the reporting period.

Current assets

66 The organization should classify asset as a turnover when:

it involves realizing an asset or intends to sell or consume it within its usual operational cycle;

she keeps this asset mainly for trading purposes;

it involves realizing the cost of this asset within the twelve months after the end of the reporting period; or

this asset is a cash or cash equivalent (in the value defined in IFRS (IAS) 7), except when there are restrictions on its exchange or use to repay the obligations operating for the minimum of twelve months after the end of the reporting period.

The organization should classify all other assets as non-current.

67 In this standard, the term "non-current" is used to indicate material, intangible and financial assets of a long-term nature. The standard does not prohibit the use of alternative designations, provided that their meaning is obvious.

68 The operating cycle of the organization is a period of time between the acquisition of assets for processing and their implementation in the form of cash or their equivalents.

In cases where the usual operating cycle of the organization is not amenable to a clear identification, assumption is assumed that its duration is twelve months.

Turnover assets include assets (such as stocks and trading receivables), sale, consumption or implementation of which is carried out within the usual operational cycle, even when it is not assumed that their cost will be implemented within twelve months after the end of the reporting period.

The composition of current assets also include assets, mainly intended for the purpose of trading (examples of such are some financial assets classified as intended for trade in accordance with IAS 39), as well as a working capital of non-current financial assets.

Short-term liabilities

69 The organization should classify the obligation as short-term when:

it involves resolving this obligation under its usual operational cycle;

she keeps this obligation mainly for trading purposes;

this obligation is subject to settlement within twelve months after the end of the reporting period; or

she has no unconditional right to delay the settlement of obligations at least twelve months after the end of the reporting period (see clause 73). The conditions of the obligation, in accordance with which it may be, at the discretion of the counterparty, is settled by the release and transfer of equity tools, do not affect the classification of this obligation.

The organization should classify all other obligations as long-term.

70 Some short-term liabilities such as trading payables and some accruals on personnel costs and other operational costs are part of the working capital used in the framework of the usual operational cycle of the Organization. The organization classifies such operating articles as short-term liabilities, even if they are repayable after more than twelve months after the end of the reporting period. For the purpose of the classification of assets and obligations of the organization, the same ordinary operating cycle is applied. In cases where the usual operating cycle of the organization is not amenable to a clear identification, assumption is assumed that its duration is twelve months.

71 Other short-term liabilities do not assume repayment within the framework of the usual operational cycle, but to be repayable within the twelve months after the end of the reporting period or these obligations are mainly held for trade purposes.

Examples of such are some financial obligations classified as intended for trade in accordance with IFRS (IAS) 39, banking overdrafts, as well as short-term part of long-term financial liabilities, debt on dividend payments, income taxes and other non-corporate payables.

Financial liabilities providing long-term financing (i.e., not part of the working capital used in the framework of the usual organization's operating cycle) and not payable within the twelve months after the end of the reporting period are long-term obligations, taking into account the requirements of paragraphs 74 and 75.

72 The organization classifies its financial obligations as short-term when they are payable within the twelve months after the end of the reporting period, even if:

the initial repayment period was more than twelve months; and

the refinancing agreement or revision of the payment schedule on a long-term basis was concluded after the end of the reporting period, but until the approval of the financial statements for release.

73 If, within the framework of an existing loan agreement, the organization expects and has the right to refinance the obligation or delay its repayment for a period of at least twelve months after the end of the reporting period, it classifies this obligation as long-term, even if otherwise this obligation would be refined In a shorter period. However, in the case when the organization is not entitled to refinance the obligation or delay its repayment (for example, in the absence of a refinancing agreement), the organization does not take into account the potential refinancing opportunity and classifies this commitment as short-term.

74 In the event that the organization violates a long-term loan agreement for the end of the reporting period or to this date, as a result of which the obligation becomes represented upon request, the organization classifies this obligation as short-term, even if the lender agreed, after the end of the reporting period, but Prior to the approval of financial statements to release, do not require early loan payment, despite the violation committed. The organization classifies this obligation as short-term, since at the date of the end of the reporting period, the organization does not have an unconditional right to delay its repayment for at least twelve months after the specified date.

75 However, the organization classifies this obligation as long-term, if, before the end of the reporting period, the lender agreed to provide it with a grace period, ending no earlier than twelve months after the end of the reporting period during which the organization can fix a violation, and at the same time the lender cannot require immediate repayment. loan.

76 In relation to loans, classified as short-term liabilities, if during the period between the date of the end of the reporting period and the date of approval of financial statements, the following events occur, these events are subject to disclosure as uncorrecting events in accordance with IAS 10 "Events after the reporting period" :

refinancing on a long-term basis;

correction of violation of the terms of the long-term loan agreement; and

providing a creditor of a grace period to correct the violation of the conditions of a long-term loan agreement, which ends no earlier than in twelve months after the end of the reporting period.

Information to be submitted either in the financial statement statement or in notes

77 The organization should be disclosed - either in the statement of financial position, or in notes - the breakdown of the reporting articles on the classification subcategories in the manner corresponding to the organization's activities.

78 Data details covered in classification subcategories depends on the requirements of IFRS, as well as on the size, nature and purpose of the corresponding indicators. When solving a question about the principle of breakdown on the classification subcategories, the organization also takes into account the factors set out in paragraph 58. The information disclosed for each indicator varies, for example:

articles of fixed assets are detailed by classes in accordance with IFRS (IAS) 16;

accounts receivable is detailed by the amount of debt of buyers and customers, debt of related parties, prepayments and other amounts;

reserves are detailed, in accordance with IAS 2 "stocks", according to such subcategories, like goods, production reserves, materials, work in progress and finished products;

estimated liabilities are detailed with the allocation of those recognized for employee remuneration, and those that relate to other articles; and

own capital and reserves are detailed at various classes, such as paid capital, emission income and reserves in capital.

79 The following information should be disclosed either in a financial statement statement or in a report on capital changes, or in notes:

for each class of share capital:

• the number of shares permitted to issue;

the number of issued and fully paid shares, as well as the number of shares issued, but not fully paid;

the nominal value of the action or the indication of the fact that the shares do not have a nominal value;

reconciliation of the number of shares that are in appeal to the beginning of the period and on the date of its ending;

rights, privileges and restrictions provided for this class, including restrictions on the distribution of dividends and return of capital;

shares of the organization held by the Organization itself or its subsidiaries or associate organizations; and

shares reserved for issuing options and contracts for the sale of shares, including the conditions of issue and amount;

description of the nature and purpose of each reserve as part of equity.

80 Organization without share capital, such as a partnership or trust, must disclose information equivalent to the one that is required in accordance with paragraph 79 (A), indicating changes for the period for each category of equity participation in its own capital, as well as information on rights, privileges and restrictions provided for each category of share in capital.

80A. If the organization has been reclassified

financial instrument with the right to sell, classified as a share tool, or

tool that obliges the organization to provide a third party proportional to the proportional to the organization's net assets only during its liquidation and is classified as a share tool, between categories of financial obligations and equity, it should disclose the amount reclassified from one category to another (financial liabilities or equity), and Also, the dates and grounds for the specified reclassification.

Profit or loss account and other aggregate income

81 [Deleted]

81A The report on profit or loss and other aggregate income (report on total income) should be presented, in addition to sections on profit or loss and about other aggregate income, the following indicators:

profit or loss;

total other cumulative income;

cumulative income for the period as the total amount of profit or loss and other aggregate income.

If the organization presents a separate income statement or loss, it does not include a section on profit or loss to a report reflecting the cumulative income.

81b. In addition to sections on profits or loss and other aggregate income, the organization should also submit the following articles showing the separation of profit or loss and other aggregate income for the period:

profit or loss for the period attributed:

• to uncontrolled participation shares;

• to the owners of the parent organization.

cumulative income for the period, attributive:

• to uncontrolled participation shares;

  to the owners of the parent organization.

If the organization presents information on profit or loss in a separate report, then the data required by sub-clause (a), it must submit to this report.

Information to be submitted in the section on profit or loss or in the income statement or loss

82 In addition to the articles required by other IFRS, a section on profit or loss or profit or loss report should include lines that represent the following indicators for the period:

• financial expenses;

  the share of the organization in the profit or loss of associate organizations and joint ventures taken into account using the equity method;

  tax consumption;

• a single amount reflecting the final magnitude of the terminated activities (see IFRS 5).

Information to be submitted in a section on other cumulative income

82A In the section on other comprehensive income, reporting articles on the sums of other aggregate income for the period classified by nature should be presented (including the share in other aggregate income of associate organizations and joint ventures taken into account using the equity method) and grouped in such a way as to highlight Those articles that, in accordance with other IFRS:

will not be subsequently reclassified to profit or loss; and

those who subsequently be reclassified to profit or loss when certain conditions are satisfied.

83–84 [Removed]

85 The organization must submit additional reporting articles, headlines and interim results in a report or reports that represent information on profit or loss and other aggregate income, when such a submission is appropriate to understand the financial results of the organization.

86 Since the effect OT different species The activities of the organization, its operations and other events differ in periodicity, the potential of profit or loss and predictability, disclosure of information on the components of financial results helps users understand the financial results obtained and build predictions regarding future financial results.

The organization includes a report or reports representing information on profit or loss and other aggregate income, additional articles and adjusts the names used and the sequence of presentation of articles, if necessary, to explain the elements of financial results.

The organization takes into account the factors, including materiality, as well as the nature and purpose of income and expenses.

Example

The Financial Institute may change the names of articles to provide information corresponding to the activities of the Financial Institute. The organization does not intercompar items of income and expenses, except when the criteria provided for in paragraph 32 are satisfied.

87 The organization cannot submit any income and expenses as an emergency in a report or reports that represent information on profit or loss and other aggregate income, nor in notes.

Profit or loss for the period

88 The organization must recognize all income and expenses for the period in profit or loss, except when any IFRS is required or allowed.

89 Some IFRS indicate the circumstances in which the organization recognizes certain articles outside the profit or loss for the current period. In IAS 8, there are two types of such circumstances: error correction and reflection of the consequences of changing accounting policies. Other IFRSs require or allow to exclude from the profit or loss of the components of other aggregate income, which satisfy the definition of income or expenses in accordance with the "Concept" (see paragraph 7).

Other cumulative income for the period

90 The organization should disclose the amount of income tax in relation to each article of other aggregate income, including reclassification adjustments, or in the income or loss report and other cumulative income, or in notes.

91 An organization may submit articles of other cumulative income:

• (a) or minus the corresponding tax effects,
• (b) either before the deduction of the appropriate tax effects, reflecting the unified amount of the total amount of income tax according to these articles.

If the organization chooses the option (b), it must distribute the value of the tax between those articles that can later be reclassified into the profit or loss section, and those articles that will subsequently be reclassified into the profit or loss section.

92 The organization should disclose information on reclassification adjustments to the components of other cumulative income.

93 In other IFRS, it is indicated whether the sums previously recognized as part of the cumulative income should be reclassified in the profit or loss. These types of reclassification are indicated in this standard as reclassification adjustments. Reclassification adjustment is included in the appropriate component of other cumulative income in that period in which the sum of this adjustment was reclassified into profit or loss. For example, profits implemented due to the disposal of financial assets available for sale are included in the profit or loss of the current period. These amounts could be recognized as part of other comprehensive income as unrealized profits in the current or previous period. These unrealized profits are subject to deduction from other aggregate income in that period in which the incurred profits are reconceded into profit or loss to prevent their inclusion in the total cumulative income twice.

94 The organization may provide reclassification adjustments in the report (reports) on profit or loss and other aggregate income or in notes. An organization representing reclassification adjustments in notes provides articles by other cumulative income after the work of all necessary reclassification adjustments.

95 Reclassification adjustments arise, for example, when disposing of a foreign subdivision (see IAS 21), with the termination of the recognition of financial assets available for sale (see IAS 39), as well as when the hedgeable projected operation has an impact on The magnitude of the profit or loss (see paragraph 100 of IFRS (IAS) 39 relative to the hedging of cash flows).

96 Reclassification adjustments do not occur when the value of value increases as a result of the revaluation recognized in accordance with IAS 16 or IAS (IAS) 38, or when reassessing programs with established payments recognized in accordance with IAS 19. These components are recognized As part of other aggregate income and are subsequently not reconcended by profit or loss. Changes in the value of the value of the value recognized as a result of the revaluation can be transferred to the retained earnings in subsequent periods as the asset is used or at the time of the cessation of its recognition (see IAS 16 and IFRS (IAS) 38).

Information to be submitted in the report (reports) on profits or loss and other aggregate income or in notes

97 In the event of the materiality of those or other items of income or expenses, the organization must separately disclose information about their character and magnitude.

98 Circumstances in which information about income or expenses is subject to separate disclosure include the following:

partial write-off of the cost of stocks to a clean possible sale price or partial write-off of the cost of fixed assets to their recoverable amount, as well as the restoration of the amount written off in this way;

restructuring organization activities and restoration of any estimated obligations in relation to the cost of restructuring;

disposal of fixed assets;

disposal of investment;

terminated activities;

settlement of judicial disputes; and

other cases of recovery amounts of assessment obligations.

99 The organization should provide an analysis of the costs recognized as part of profit or loss using a classification based either on their nature or on their appointment within the organization, depending on which approaches to reliable and more appropriate information.

100 It is welcome to the analysis required by paragraph 99, the Organization is represented directly in the report or reports representing profit indicators or loss and other aggregate income.

101 Classification of costs for subcategories is used to highlight the components of financial results, which may differ in periodicity, the potential of profit or loss and predictability. The specified analysis is presented in one of two formats.

102 The first format is an analysis using the "By the nature of expenses" method. The organization grows the costs included in the profit or loss, in their nature (for example, depreciation of fixed assets, procurement of materials, transport costs, employee benefits and advertising costs) and does not redistribute them between the functional areas within the organization. This method can be easy to use, since there is no need to redistribute costs in accordance with their appointment within the Organization. An example of a classification using the method "By the character of expenses" is as follows:

103 The second format is an analysis using the method "to destination" or "at cost of sales", within which expenses are classified depending on their appointment as part of the cost of sales or, for example, as costs for distribution or administrative activities. The organization at least discloses within the framework of this method the cost of its sales separately from other expenses. This method can provide users with more appropriate information compared with the method of classifying expenses by nature, but the distribution of costs for their purpose may require arbitrary distribution and is largely due to judgment. An example of a classification using the "Cost assignment" method is as follows:

104 The organization, classifying the costs of their purpose, should disclose additional information on the nature of the costs, including expenses in terms of depreciation of fixed assets and intangible assets and expenses in terms of remuneration to employees.

105 The choice between the "appointment of expenses" method and the method "by the nature of expenses" depends on the historical and industry factors, as well as on the nature of the organization. Both methods allow to obtain an idea of \u200b\u200bthe costs that may vary directly or indirectly, depending on the change in the level of sales or organization of organization. Since each of the presentation methods has its advantages for organizations of different types, this standard requires that the manual chosen the order of representation that is reliable and most relevant. However, due to the fact that information on the nature of the costs helps to predict future cash flows, additional information disclosure is required when the method of classification of costs is used. In paragraph 104, the term "remuneration to employees" is used in the same meaning as in IAS 19.

Report about changes in own capital

Information to be submitted in the report of changes in equity

106 The organization must submit a report on changes in its own capital, as required 10. The report of changes in its own capital includes the following information:

general aggregate income for the period, with a separate presentation of the final amounts attributable to the owners of the parent organization and to uncontrolled participation shares;

for each component of equity - the consequences of retrospective use or retrospective corrections, recognized in accordance with IAS 8; and

• for each component of equity - reconciliation of the book value at the beginning of the period and on the date of its end, with separate disclosure of changes that are consequence:

  • profit or loss;

  other aggregate income;

  operations with owners operating in this capacity, with a separate submission of deposits of owners and distributions to owners, as well as changes in participation in subsidiariesthat do not lead to the loss of control.

Information to be submitted in the report on changes in own capital or in notes

106A. For each component of equity, the organization should submit to either in the report of changes in its own capital, or in notes - a testifying analysis of other cumulative income (see paragraph 106 (d) (II)).

107 The organization must submit - either in the report of changes in its own capital, or in notes - the amount of dividends recognized during the period as the distribution of owners, as well as the relevant amount of dividends per share.

108 In paragraph 106, the components of equity include, for example, each class of contributions to their own capital, accumulated balance on each class of other cumulative income and retained earnings.

109 Changes that occurred in the own capital of the organization between the dates of the beginning and end of the reporting period reflect an increase or decrease in the organization's net assets during this period. With the exception of changes that are a consequence of operations with owners operating in this capacity (such as contribution deposits, the repurchase of their own equity instruments of the organization and dividends), and the costs of the transaction directly related to operations, the overall change in the value of equity for the period is The total amount of income and expenses, including profits and losses generated by the organization during this period.

110 IAS 8 requires retrospective adjustments to reflect the changes in accounting policies to the extent that it is practically feasible, except in cases where the rules for the transition of another IFRS provide for otherwise. IAS 8 also requires that the error correction is made retrospectively to the extent that it is practically feasible. Retrospective adjustments and retrospective corrections are not changes in equity, but they correct an entrance balance of retained earnings, except when any IFRS requires retrospective adjustment of another component of equity. Paragraph 106 (b) requires that in the report of changes in own capital, information on the final amounts of adjustments for each component of equity due to changes in accounting policies and separately caused by error corrections are disclosed. Such adjustments are subject to disclosure for each previous period and at the beginning of this period.

Cash Movement Report

111 Information on cash flows provides users with financial statements the basis for evaluating the ability of the organization to generate cash and equivalents of funds, as well as its needs for using these cash flows. IAS 7 establishes requirements for submission and disclosure of cash flow information.

Notes

Structure

112 Notes should:

submit information about the basis of the preparation of financial statements and specific provisions of the accounting policy used in accordance with paragraphs 117-124;

disclose the information required by IFRS, which is not represented in any of the financial reports; and

provide information that is not submitted in any of the financial reports, but is relevant to understand any of them.

113 The organization must represent notes in an ordered form, as far as it is practically feasible. For each article presented in the financial statement reports and in the report (reports) on profit or loss and other aggregate income, as well as in reports on changes in its own capital and on cash flow, the organization should give a cross reference to any associated with it. Information disclosed in notes.

114 The organization usually represents notes in the following order to help users understand financial statements and compare it with the financial statements of other organizations:

application for compliance with international financial statements (see paragraph 16);

a brief overview of the basic provisions of the accounting policy applied (see paragraph 117);

auxiliary information on accounting objects submitted in the financial statements and in the report (reports) on profit or loss and other aggregate income, as well as in reports on changes in equity and cash flow, in the same priority in which each report and each article; and

other disclosed information, including:

• on conditional obligations (see IAS (IAS) 37) and not recognized contractual obligations for future operations;

information of non-financial character, for example, about the purpose and policies of the Organization for the Management of Financial Risks (see IFRS 7).

115 In some cases, there may be a need or desire to change the sequence of presenting certain articles in the notes. For example, an organization can combine information about the changes in fair value recognized as part of profit or loss, with information on the maturity of financial instruments, despite the fact that the first disclosure of information refers to the report (reports) representing (representing) profit or loss and loss indicators and Other aggregate income, and the last disclosure of information is to a statement of financial position. Nevertheless, the organization adheres to an ordered structure of the note representation to the extent that it is practically feasible.

116 The organization can allocate a note in the Independent Financial Reporting section containing information about the preparation of financial statements and specific regulations of accounting policies.

Disclosure of information about accounting policies

117 In a brief review of the basic regulations of the accounting policy, the organization should disclose:

database (base) estimates used (used) in the preparation of financial statements; and

other provisions of the applied accounting policies that are relevant to understanding the financial statements.

118 It is important that the organization informs users about the database or databases used in the preparation of financial statements (for example, historical cost, current cost, net possible sale price, fair value or recoverable value), since the base used by the Organization for the preparation of financial statements is largely Extent affects the analytical findings of users. When an organization uses more than one database in the financial statements, for example, when certain assets are revalued, it suffices to indicate those categories of assets and liabilities to which each of the assessment databases applies.

119 When deciding whether to disclose this or that position of the accounting policy, the management assesses whether the disclosure of this information contributes to the understanding of users how the operations, other events and conditions are reflected in the reporting indicators of financial results and financial position. The disclosure of specific accounting policies is particularly useful for users when this information reflects the procedures selected by the Organization from the alternatives allowed in IFRS.

An example is the disclosure of information about whether the organization applies to assess its investment real estate model at fair value or model at the initial cost (see IAS 40 "Investment Real Estate").

Some IFRS contain a direct requirement to disclose specific accounting policy provisions, including information on the procedure for accounting, selected by the leadership of the alternatives provided for in IFRS. For example, IAS 16 requires disclosure of information on the score bases used for fixed assets of different classes.

120 Each organization takes into account the nature of its activities and the provisions of the Accounting Policy, which, on the expectations of users of its financial statements, would be disclosed in relation to the organization of this species. For example, users would expect an organization taxable income tax, will reveal the provisions of its income tax accounting policies, including those applied to deferred tax liabilities and assets. When an organization has significant foreign divisions or operations in foreign currency, users would expect disclosure on accounting policies regarding the recognition of profits and losses from changing exchange rates of foreign currencies.

121 The position of the accounting policy may be significant due to the nature of the organization's activities, even if the amounts for the current and previous periods are not essential. It is also advisable to disclose each significant statement of accounting policies in respect of which there are no direct requirements of IFRS, but it was chosen and applied by the Organization in accordance with IAS 8.

122 The organization should disclose - in a brief review of significant accounting policy provisions or as part of other notes - information on judgments, in addition to those related to the calculated estimates (see paragraph 125), which were formed by the management in the process of applying the accounting policy of this organization and provided A significant impact on the amounts recognized in the financial statements.

123 In the process of applying the organization's accounting policy, management forms various judgments, in addition to those related to the calculated estimates that can significantly affect the amounts recognized in the financial statements. For example, management forms judgments when solving the following issues:

whether financial assets to invest, held before repayment;

at what point in time, almost all significant risks and benefits associated with the ownership of financial assets and rental assets are transmitted to other organizations;

representing certain sales of goods on the merits of the financing agreement and, therefore, do not lead to the emergence of revenues.

124 The disclosure of some information provided for in paragraph 122 is required by other IFRS. For example, IFRS 12 "disclosure of information on participation in other organizations" requires the organization to disclose information on judgments that it has formed when solving the question of whether it controls another organization. IAS 40 "Investment Real Estate" requires disclosure of information on the criteria developed by the organization to distinguish between investment real estate and property held by the owner, as well as real estate held for sale during ordinary activities, in cases where real estate classification causes difficulties.

Sources of uncertainty associated with calculated estimates

125 The organization must disclose information on the assumptions made by the future, as well as on other major sources of uncertainty related to the calculated estimates as of the deadline for the end of the reporting period, which carry a significant risk that in the next fiscal year it will require substantial adjustment of the balance sheet The cost of assets and liabilities. With regard to these assets and obligations, notes should include a detailed description:

their character;

their carrying value at the end date of the reporting period.

126 In determining the book value of some assets and obligations, a calculated assessment is required, at the date of the end of the reporting period, the impact on these assets and the obligations of future events, which is not confidence. For example, in the absence of information about the observed market prices of recent transactions, it will require the use of estimates with the future orientation to assess the recoverable amount of the classes of fixed assets, the consequences of technological obsolescence for reserves, the value of estimated obligations, which depends on the future outcome of the continuing trial, and the magnitude of the long-term obligations with respect to employees, such as pension obligations. These estimates assume the use of assumptions regarding such aspects as adjusting the amount of cash flows or risk discount rates, future changes in the amount of wages and future price changes that influence other costs.

127 Assumptions and other sources of uncertainty associated with the calculated estimates disclosed in accordance with clause 125 relate to the calculated estimates requiring the leadership of the most complex, subjective or complex judgments. With an increase in the number of variables and assumptions that affect the possible future resolution of uncertainty, these judgments are becoming more subjective and complex, and, as a result, the risk that subsequently the carrying amount of assets and obligations will have to be significantly adjusted.

128 In relation to assets and liabilities subject to considerable risk of a possible substantial change in their book value during the next fiscal year, it is not necessary to disclose the information provided for by clause 125 if they are assessed at the date of the reporting period at fair value, based on the quotes of the active market for identical Asset or obligations. The fair value defined in this way can change significantly in the next fiscal year, but these changes will not be a consequence of assumptions or other sources of assessing uncertainty at the end date of the reporting period.

129 The organization presents the information required by paragraph 125 in such a way that the financial reporting users have become understood by the judgment formed by the leadership regarding the future and in relation to other sources of uncertainty associated with the calculated estimates. The nature and volume of such information varies depending on the nature of the appropriate assumptions and other circumstances. Examples of information that the organization reveals is as follows:

the nature of the appropriate assumption or other uncertainty associated with the calculated estimate;

the sensitivity of carrying values \u200b\u200bto methods, assumptions and calculated estimates on which their calculation is based, including the causes of such sensitivity;

the expected outcome of the resolution of uncertainty and the range of reasonable values \u200b\u200bof the book value of the relevant assets and obligations in the next fiscal year;

explanation of the changes that have occurred compared to past assumptions regarding these assets and liabilities, if uncertainty remains unresolved.

130 This standard does not require that when disclosing information provided for in paragraph 125, the organization has disclosed budget information or forecasts.

131 Sometimes disclosure of information about the degree of possible influence of any assumption or other source of uncertainty associated with the calculated estimates, as of the end of the reporting period, is practically impossible. In such cases, the Organization indicates that it has reason to expect, based on the information available, which in case the actual outcome in the next fiscal year will differ from the expected, it may be necessary to require substantial adjustment of the book value of the relevant asset or obligation. In all cases, the Organization discloses the nature and book value of a specific asset or commitment (or class of assets or liabilities) related to this assumption.

132 The information disclosed in accordance with paragraph 122 on specific judgments formed by the management in the process of applying the organization's accounting policy is not related to information about the sources of uncertainty associated with the calculated estimates disclosed in accordance with paragraph 125.

133 Other IFRSs require disclosure of information on some of the assumptions that otherwise would need to disclose in accordance with clause 125. For example, IAS 37 requires disclosure, in certain circumstances, information on the main assumptions about future events affecting the grades of assessment obligations. . IFRS 13 "Evaluation of fair value" requires disclosure of significant assumptions (including assessment methods and initial parameters) used by the organization when evaluating the fair value of assets and liabilities that are reflected at fair value.

Capital

134 The organization must disclose information that allows users of its financial statements to evaluate the goal, policies and capital management processes.

135 In pursuance of paragraph 134, the organization discloses the following:

(a) Qualitative information about its own purposes, policies and capital management processes, including:

what is managed by it as capital;

in the case when external capital requirements are applied to the organization, the nature of the specified requirements and how these requirements are embedded in the capital management process;

how the organization performs its capital management goals;

(b) summarized quantitative data regarding what is managed by it as capital. Some organizations refer to capital certain financial liabilities (for example, some forms of subordinated debt). Other organizations are excluded from capital compositions of equity equity (for example, components resulting from the hedging of cash flows);

(c) any changes in subparagraphs (a) and (b) compared with the previous period;

(d) whether the organization has fulfilled the external capital requirements that it is obliged to perform;

(e) in case of non-fulfillment by the organization of such external capital requirements, the consequences of such violations.

The organization discloses this information based on internal information provided by key management personnel.

136 The organization can carry out capital management in various ways, and various requirements may be placed in terms of capital. For example, the Conglomerate may include organizations carrying out insurance activities and banking and at the same time working in several jurisdictions. In cases where the aggregated disclosure of data on capital requirements and on accepted capital management approaches does not provide useful information or this gives users financial statements a distorted view of the organization of capital resources, the organization must disclose information separately for each request in terms of capital, which She is obliged to perform.

Financial instruments with the right to sell, classified as part of equity capital

136A. With regard to financial instruments with the right to sell, classified as equity tools, the organization must disclose the following information (in the part, not disclosed in other sections):

generalized quantitative data on the value classified as equity;

goals, policies and processes to manage their duty to make the return purchase or repayment of these tools at the request of their holders, including any changes compared with the previous period;

expected cash outflow when repaying or buying a financial instrument of this class; and

information on how the value of the outflow of cash expected during repayment or reverse purchase was determined.

Disclosure other information

137 The organization must disclose the following information in the notes:

(a) the amount of dividends proposed or declared to the date of approval of financial statements to the issue, but not recognized in the reporting period as the distribution of owners, as well as the relevant amount per share; and

(b) the sum of any unrecognized dividends on cumulative privileged shares.

138 The organization must disclose the following information if they are no longer disclosed as part of other information published with financial statements:

location and legal form of the Organization, the country of its legal registration and the legal address (or the main place of business, if different from the legal address);

description of the nature of the organization's operations and the main directions of its activities;

the name of the parent organization and the ultimate parent organization of this group; and

in relation to organizations created for a limited period, information on the duration of the organization's existence.

Transitional positions and the date of entry into force

139 The organization should apply this standard for annual periods beginning on January 1, 2009 or after this date. It is allowed early use. If the organization begins to apply this standard for an earlier period, it should disclose this fact.

139A. IAS 27 (taking into account the 2008 amendments) Amendments to paragraph 106 were amended. The organization should apply the specified amendment for annual periods beginning on July 1, 2009 or after this date. If an organization is applicable to IAS 27 (taking into account 2008 amendments) in relation to an earlier period, this amendment should be applied to a given earlier period. The amendment should be applied retrospectively.

139b. The document "Financial instruments with the right to sell and duties arising from liquidation" (amendments to IAS 32 and IAS 1) issued in February 2008, it was changed by paragraph 138 and added paragraphs 8a, 80A and 136A. The organization should apply these amendments to annual periods beginning on January 1, 2009 or after this date. It is allowed early use. If the organization applies these amendments to an earlier period, it must disclose this fact and at the same time with them should begin the application of the Amendments to IAS 32, IFRS (IAS) 39, IFRS (IFRS) 7 and the clarification of KMFO (IFRIC) 2 "The share of participants in cooperative organizations and similar tools."

139c. Paragraphs 68 and 71 were changed by the "Improvement of IFRS", issued in May 2008. The organization should apply these amendments to annual periods beginning on January 1, 2009 or after this date. It is allowed early use. If the organization apply these changes regarding an earlier period, it must disclose this fact.

139d. Clause 69 is changed by the IFRS Improvement Document, issued in April 2009. The organization should apply this amendment for annual periods beginning on January 1, 2010 or after this date. It is allowed early use. If an organization applies this change in relation to an earlier period, it must disclose this fact.

139E.

139F. A document "Improvement of IFRS" issued in May 2010, amended to paragraphs 106 and 107 and added item 106a. The organization should apply these amendments for annual periods beginning on January 1, 2011 or after this date. It is allowed early use.

139g [This item concerns the amendments that have not yet entered into force, and therefore are not included in this version.]

139h. IFRS 10 and IFRS (IFRS) 12 issued in May 2011, amended to paragraphs 4, 119, 123 and 124. The organization must apply these amendments simultaneously using IFRS (IFRS) 10 and IFRS 12.

139i IFRS 13 issued in May 2011, amended to paragraphs 128 and 133. The organization should apply these amendments simultaneously with the use of IFRS 13.

139J. The document "Representing items of other aggregate income" (amendments to IAS (IAS) 1) issued in June 2011, amendments were made to paragraphs 7, 10, 82, 85-87, 90, 91, 94, 100 and 115, the items were added 10A, 81A, 81B, 82A and removed items 12, 81, 83, 84. The organization should apply these amendments for annual periods beginning on July 1, 2012 or after this date. It is allowed early use. If the organization applies these amendments to an earlier period, it must disclose this fact.

139K. IAS 19 "remuneration to employees" (taking into account the amendments issued in June 2011) amended to paragraph 7 and paragraph 96 relating to the definition of "other aggregate income". The organization should apply these amendments simultaneously using IAS 19 (taking into account the amendments issued in June 2011).

139L The "Annual Improvements of IFRS, period 2009-2011", issued in May 2012, made changes to paragraphs 10, 38 and 41, removed items 39-40 and adds items 38A-38D and 40A-40D. The organization should apply this amendment retrospectively in accordance with IAS 8 "Accounting Policy, Changes in Accounting Evaluation and Errors" for annual periods beginning on January 1, 2013 or after this date. It is allowed early use. If an organization applies a real amendment for an earlier period, it must disclose this fact.

139m -139O. [These items concern the amendments that have not yet entered into force, and therefore are not included in this version.]

Termination of IFRS (IAS) 1 (revised in 2003)

140 This standard replaces IAS 1 "presentation of financial statements", revised in 2003 and taking into account the 2005 amendments.