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ACCA P2考试疑难点解析
文章来源：网络
发布时间：2018-03-07 18:02
阅读：2348次
P2公司报告是ACCA财务会计体系中的*后一门课程，它是F3、F7科目的高级课程，主要考察的是学员是否深入了解会计准则，以及是否可以在一系列商业环境和情况下对财务报告原理和做法的应用进行专业判断。那么，在应对这个更高级、高难度考试科目的时候，我们应该如何备考呢？以下是P2考试当中疑难点，正在备考的同学们赶快收藏吧~
Revised Conceptual Framework:Measurement
Although the existing Conceptual Framework has helped the IASB when developing International Financial Reporting Standards(IFRS).In 2011 the IASB carried out a public consultation on its agenda.Most respondents to that consultation identified the Conceptual Framework as a priority project for the IASB.
The objective of the project is to improve financial reporting by providing a more complete,clear and updated set of concepts.This article covered one of these concepts“measurement”.
Measurement is the process of quantifying,in monetary terms,information about an entity’s assets,liabilities,equity,income and expenses.A measurement basis is an identified feature of an item being measured.Consideration of the objective of financial reporting,the qualitative characteristics of useful financial information and the cost constraint is likely to result in the selection of different measurement bases for different assets,liabilities and items of income and expense.
Measurement bases can be categorized as historical cost and current value.
Historical cost
Measures based on historical cost provide monetary information about assets,liabilities,income and expenses using information derived from the transaction or event that created them.The historical cost measures of assets or liabilities do not reflect changes in prices.However,the measures do reflect changes such as the consumption or impairment of assets and the fulfilment of liabilities.The derecognition of assets(liabilities)measured at historical cost results in the recognition as income or expenses of any difference between the carrying amount of the asset(liability)and any consideration received(paid)for that asset(liability).
Income and expenses measured at historical cost may have predictive value.For example,information about past margins can be used as one input in predicting future margins.Income and expenses measured at historical cost may also have confirmatory value by providing feedback about previous estimates of cash flows or margins.In many situations,it is simpler and less expensive to provide information about historical cost than information using current value measurement bases.In addition,measures prepared using the historical cost measurement basis are generally well understood and,in many cases,verifiable.
On the historical cost measurement basis,similar assets or liabilities that are acquired or incurred at different times can be reported in the financial statements at very different amounts.This can reduce comparability both between reporting entities and within the same reporting entity.
Current value
Measures based on current value provide monetary information about assets,liabilities,income and expenses using information that is updated to reflect conditions at the measurement date.Because of the updating,current values capture any positive or negative changes,since the previous measurement date,in estimates of cash flows and other factors included in those current values.Current value measurement bases include:
•Fair value;
•Value in use for assets and fulfilment value for liabilities.
Fair value
Fair value is the price that would be received to sell an asset,or paid to transfer a liability,in an orderly transaction between market participants at the measurement date.Fair value reflects the perspective of market participants.That is,the asset or the liability is measured using the same assumptions that market participants would use when pricing the asset or the liability if those market participants act in their economic best interest.
Information given about assets and liabilities when they are measured at fair value has predictive value,because fair value reflects expectations about the amount,timing and uncertainty of the cash flows(reflecting market participants’expectations and priced in a manner that reflects their risk preferences).It may also have confirmatory value by providing feedback about previous estimates.
Because fair value is determined from the perspective of market participants,instead of the perspective of the entity,and is independent of when the asset or the liability was acquired or incurred,identical assets will(subject to estimation error)be measured at the same amount.This can enhance comparability both between reporting entities and within the same reporting entity.
If fair value cannot be observed,valuation techniques(sometimes including the use of cash-flow-based measurements)may be needed to estimate that fair value.Depending on the techniques used:
(a)the estimation process may be costly and complex.
(b)the inputs into the process may be subjective and it may be difficult to verify both the inputs and the validity of the process itself.As a consequence,entities may measure identical assets or liabilities at different amounts,which reduces comparability.
Value in use and fulfilment value
Value in use and fulfilment value are entity-specific values.Value in use is the present value of the cash flows that an entity expects to derive from the continuing use of an asset and from its ultimate disposal.Fulfilment value is the present value of the cash flows that an entity expects to incur as it fulfils a liability.
Value in use and fulfilment value cannot be directly observed and are determined using cash-flow-based measurement techniques.
Value in use provides information about the present value of the estimated cash flows from the continued use of an asset and from its disposal at the end of its useful life.This information has predictive value and can be used in assessing the prospects for future cash flows,particularly if the asset will contribute to future cash flows by being used.Fulfilment value provides information about the present value of the estimated cash flows to fulfil a liability.That information has predictive value;particularly if the liability will be fulfilled instead of transferred or settled by negotiation.
Updated estimates of value in use and fulfilment value,combined with information about actual cash flows,have confirmatory value because they provide feedback about previous estimates of value in use and fulfilment value.
Because value in use and fulfilment value are determined from the perspective of the reporting entity,those measures could differ for identical assets and liabilities in different entities,arguably reducing comparability.In contrast,because fair value uses market participant assumptions,in theory,different entities should arrive at identical estimates of fair value for identical items.
In addition,estimates of value in use and fulfilment value may inadvertently reflect synergies with other assets and liabilities and so may not measure only the item that they purport to measure.
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Cathy
讲师认证：一次性通过CFA所有级别，FRM考试全科目1
CFA持证人，FRM持证人，CICPA会员，曾一次性通过CFA所有级别，FRM考试全科目1，6年上市公司财务从业者，从事金融培训6年有余，带出数十位优秀学员。 上课温柔有趣，擅长将知识点与当下学员追逐的热点新闻、或者有趣的“梗”结合起来，深受学员喜爱，便于学员集中注意力，让学员在轻松愉快的课堂气氛中学习。
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