ACCT10001 Lecture Notes - Lecture 4: Management Accounting, Net Present Value, Interest Expense
27 Aug 2018
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Ve bank balance, interest on a daily basis. Not recognized must disaggregate between provisions for employee benefits and other (including any individually significant classes of provisions: provide details of basis for estimation. Judgments whether non- disclosure or disclose contingent or recognize as liability. Po (legal or constructive) as as a result of past event. Probable outflow of resources/economic benefit to settle. A reliable estimate can be made of the amount of obligation. If these conditions are not met ,no provision shall be recognised. Will only be confirmed by the occurrence or non-occurrence of one or more uncertain future events not co(cid:373)pletely u(cid:374)der the co(cid:373)pa(cid:374)y"s control. Do not meet the recognition criteria (probable outflow of eb and reliable estimate) No limit to the amount of share capital(authorized capital discontinued in australia in. Reserves are a part of retained earnings appropriated for a purpose. Retained earnings are company"s net income after paying out dividends. Revaluation surplus from revaluing assets to fair value.
