ACCA F7 知识点总结

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1、ACCA考试F7知识点辅导I.Theaccountingproblem 　　BeforeIAS37provisionswererecognizedonthebasisofprudence，littleguidancewasgivenonwhenaprovisionshouldberecognizedandhowitshouldbemeasured.Thisgaverisetoinconsistencies，andalsoallowedprofitstobemanipulated. 　　Someproblemsarenotedbelow： 　　(a)Provis

2、ionscouldberecognizedonthebasisofmanagementintentions，ratherthanonanyobligationtobeentity; 　　(b)Severalitemscouldbecombinedintoonelargeprovision.Therewereknownas‘bigbath’provisions; 　　(c)Aprovisioncouldbecreatedforonepurposeandthenusedforanother; 　　(d)Poordisclosuremadeitdifficultto

3、assesstheeffectofprovisionsonreportedprofits.Inparticular，provisionscouldbecreatedwhenprofitswerehighandreleasedwhenprofitswerelowinordertosmoothprofits. 　　(1)Definitions 　　IAS37viewsaprovisionasaliability. 　　Aprovisionisaliabilityofuncertaintytimingoramount; 　　Aliabilityisanobligat

4、ionofanenterprisetotransfereconomicbenefitsasaresultofpasttransactionsorevents. 　　Provisionmustbebasedonobligations，notmanagementintentions. 　　(2)UnderIAS37，aprovisionshouldberecognized： 　　a.Whenanenterprisehasapresentobligation; 　　b.Itisprobablethatatransferofeconomicbenefitswillbe

5、requiredtosettleit; 　　c.Areliableestimatecanbemadeofitsamount;ifareasonableestimatecannotbemade，thenthenatureoftheprovisionandtheuncertaintiesrelatingtotheamountandtimingofthecashflowsshouldbedisclosed. 　　Aprovisionismadeforsomethingwhichwillprobablyhappen.Itshouldberecognizedwhenit

6、isprobablethatatransferofeconomiceventswilltakeplaceandwhenitsamountcanbeestimatedreliably. 　　(3)Contingentliabilities 　　Definition 　　TheStandarddefinesacontingentliabilityas： 　　(a)Apossibleobligationthatarisesfrompasteventsandwhoseexistencewillbeconfirmedonlybytheoccurrenceornon-oc

7、currenceofoneormoreuncertainfutureeventsnotwhollywithinthecontroloftheenterprise;or 　　(b)Apresentobligationthatarisesfrompasteventsbutisnotrecognizedbecause： 　　(i)Itisnotprobablethatanoutflowofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligation;or 　　(ii)Theamountof

8、theobligationcannot