1. Financial Accounting II Lecture 44

12. Share capital classified under the following sub-heads, namely: Issued, subscribed and paid up capital, distinguishing in respect of each class between:- (a) shares allotted for consideration paid in cash; (b) shares allotted for consideration other than cash, showing separately shares issued against property and others (to be specified); and (c) shares allotted as bonus shares. Disclosure Requirements of Share Capital

13. If the share capital is divided into different classes of shares, namely ordinary, preference etc. For each separate class of share capital, the following is disclosed: a) Authorized Capital Number of Shares. Nominal value. b) Paid up Capital Number of Shares. Nominal value. Disclosure Requirements of Share Capital

14. Lessee should in addition to meeting the requirements of IAS 32 Financial Instruments: Disclosure and Presentation, make following disclosures for finance leases: a. For each class of asset, the net carrying amount at the balance sheet date. Finance Lease - Disclosures

15. b. A reconciliation between the total of future minimum lease payments at the balance sheet date, and their present value. In addition, an entity shall disclose the total future minimum lease payments and their present value, for each of the following periods: -not later than one year, - later than one year and not later than five years -later than five years Finance Lease - Disclosures

16. c. Contingent rents recognised as expense in the period. d. The total of future minimum sublease payments expected to be received under a non-cancelable sublease at the balance sheet date. Finance Lease - Disclosures

17. e. A general description of the lessee’s material leasing arrangements including but not limited to, the following: i. The basis on which contingent rent payable is determined; ii. The existence and terms of renewal or purchase options and escalation clauses Finance Lease - Disclosures

18. iii. Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and future leasing. In addition, the requirements for disclosure in accordance with IAS 16 (Property Plant and Equipment), IAS 36 (Impairment of Assets), IAS 40 (Investment Property) and IAS 41 (Agriculture) apply to lessees for assets leased under finance lease. Finance Lease - Disclosures

19. If an entity declares dividends to holders of equity instruments after the balance sheet date, the entity shall not recognise those dividends as a liability at the balance sheet date. Dividends - IAS 10

20. If dividends are declared after the balance sheet date but before the financial statements are authorised for issue, the dividends are not recognised as a liability at the balance sheet date because they do not meet the criteria of a present obligation according to IAS 37. Such dividends are disclosed in the notes in accordance with IAS 1 Presentation of Financial Statements. Dividends – IAS 10

21. A reconciliation of the carrying amount at the beginning and end of the period. Comparative figures are not required for reconciliation. Disclosure Requirements – Fixed Assets

22. The financial statements should also disclose. The existence and amount of restrictions on title, and property plant and equipment pledged as security The accounting policy for estimated costs of restoring site of items of property plant and equipment Disclosure Requirements – Fixed Assets

23. The reconciliation of carrying amount at the beginning and at the end of the period. Disclosure Requirements – Fixed Assets

24. The amount of expenditures on account of property, plant and equipment in the course of construction The amount of commitments for the acquisition of property, plant ant equipment. Disclosure Requirements – Fixed Assets

25. The financial statements should also disclose: If an intangible asset is amortized over a period of more than 20 years the reason why the presumption of useful life was rebutted. Description, carrying amount and remaining amortization period of any individual asset that is material to financial statements. Disclosure Requirements - Intangibles

26. The financial statements should disclose the following for each class of intangible assets, distinguishing between internally generated assets and other assets: The useful lives or the amortization rates used. The amortization method used. The gross carrying amount and the accumulated amortization at the beginning and at the end of the period. Disclosure Requirements - Intangibles

27. For intangible assets acquired by way of Government grants: The fair value initially recognized The carrying amount Whether they are carried at bench mark (cost less acc amortization) or the allowed alternative treatment (revalued amount less acc amortization) Disclosure Requirements - Intangibles

28. The existence of intangible assets whose title is restricted and the carrying amount intangible assets pledged as security for liabilities. The amount of commitments for acquisition of intangible assets. Disclosure Requirements - Intangibles