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to stop sth before it is finished, to reduce or limit sth / ograniczać, ale też skracać (np. wakacje) Lernen beginnen
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The going concern basis assumes that the entity has neither the need nor the intention to liquidate or materially curtail the scale of its operations.
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to pretend to be or to do something, especially in a way that is hard to believe / twierdzić Lernen beginnen
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If information is to present faithfully the transactions and other events that it purports to represent, they must be accounted for and presented in accordance with their substance and economic reality and not merely their legal form.
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existing or happening before someone or something / poprzedzający Lernen beginnen
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Comparability - users of FS wish to compare performance and changes of an entity over time. It is important that the FS show corresponding information for the preceding periods.
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to give the details of or explain something, esp. in writing / określać coś Lernen beginnen
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The Conceptual Framework sets out the fundamental concepts for financial reporting that guide the Board in developing IFRS Standards. It helps to ensure that the Standards are conceptually consistent and that similar transactions are treated the same way.
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the way in which a person controls or organizes / management / zarządzanie Lernen beginnen
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The objective of FS is to provide information about the reporting entity's financial performance and position that is useful to certain types of user for assessing the stewardship of directors and for making economic decisions.
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to discover a fact, to make certain / ustalić, np. przyczynę czegoś (np. pożaru), wartość Lernen beginnen
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Whilst being both easy to ascertain and objective, the historical cost basis of measurement fails to relate directly to any of the three decisions that might reasonably be made about an asset:
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to cause sth to exist again or to give sb back their previous job or position Lernen beginnen
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Whilst the qualitative characteristics of useful financial information remain unchanged, the Board decided to reinstate explicit references to prudence and substance over form (as a part of faithful representation)
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to use sth a lot so that it no longer works, or can no longer be used / zużyć się Lernen beginnen
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Most non-current assets wear out or are consumed over time and therefore they are depreciated. On the other hand, many agricultural assets grow rather than wear out. Arguably, depreciation is irrelevant here.
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to cut down a tree / ściąć drzewo Lernen beginnen
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Under traditional accounting rules a forestry company could make huge short-term profits by felling all its trees without replacing them. Profit would reflect the sales but ignore the fall in value of the forest.
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a young plant, esp. one raised from seed and not from cutting Lernen beginnen
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Seedlings being grown on a plantation will not have any market value until they are a few years old. Therefore acc. to IAS41 they should be measured at cost less depreciation until a reliable fsir value can be ascertain.
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In the bond/loans world ...... means 'equal to face value'. Lernen beginnen
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Face value, also known as 'par value' is the amount the issuer promises to pay the bondholder when the bond matures.
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not leading to a firm conclusion, not ending doubt or dispute / nieprzekonywujący, nie rozstrzygający Lernen beginnen
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If the primary factors for determining a functional currency are inconclusive, then the following secondary factors should also be consodered: 1. the currency in which funds from financing activities are generated 2...
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[formal] a payment for sth someone has done for you / wynagrodzenie Lernen beginnen
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If there is a significant financing component, then the consideration receivable needs to be discounted to present value using the rate at which the customer would be able to borrow.
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something that you dislike or worry about because it is very difficult to deal with / burdensome / uciążliwy Lernen beginnen
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If the expected outcome of a contract is a loss, the whole loss should be recognised immediately, recording a provision as an onerous contract. If the outcome is expected to be a profit the rev and costs should be recognised according to the progress
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stating what should happen or what someone should do / nakazowy Lernen beginnen
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IFRS 15 is not prescriptive about the treatment of contract assets/liabilities
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payments thst are paid ...... are paid at the end of a period of time. Opposite to 'in advance'. / z dołu Lernen beginnen
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The layout of a lease liability table will depend on whether payments are made at the end of the year (in arrears) or at the start of the year (in advance)
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the number of times something happens/the number of cases of an illness or a medical condition in a particular place, group or situation / występowanie Lernen beginnen
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Exceptional items (IAS1) is the name often given to material items of income and expense of such size, nature or INCIDENCE that disclosure is necessary in order to explain the performance of the entity.
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use of legal system to settle a disagreement / postępowanie sądowe, spór sądowy Lernen beginnen
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One of the example of exceptional items (IAS1) is litigation settlements
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