Financial Accounting: Accounting Policies and Findings of 20 Companies

Financial Accounting

Table of Contents
INTRODUCTION...........................................................................................................................3
Accounting policies.....................................................................................................................3
List of 20 companies....................................................................................................................3
Findings in the form of a table including.....................................................................................4
1. Subsequent measurement of Property, plant and equipment (IAS 16)....................................6
2. Method of depreciation (IAS 16).............................................................................................7
3. Subsequent measurement of intangible assets (IAS 38)..........................................................8
4. Method of amortization Intangible assets with finite useful lives (IAS 38)............................9
5. Subsequent measurement of Investment property (IAS 40)..................................................10
6. Cost formulas for inventories (IAS 2)...................................................................................11
7. Initial measurement of Non-controlling interest (IFRS 3)....................................................12
8. The form of the income statement (expenses by the nature or by the function, IAS 1)........13
9. The form of statement of comprehensive income (single statement or two statements IAS 1)
...................................................................................................................................................14
CONCLUSION..............................................................................................................................15
REEFRENCES..............................................................................................................................16

INTRODUCTION
Financial accounting is the method of presenting financial reports that are used by
businesses to demonstrate their financial results and status to those outside the business,
including stakeholders, stakeholders, vendors and clients. This informs business owners of
the net income and the profitability of the company. In certain words, financial reporting is
being used in a manner suitable and able to adapt for all companies to communicate
financial statements to the creditors.
In this report, accounting policies consolidate statement of 20 companies and the
finding of accounting policies IAS 16 is discussed.
Accounting policies
Accounting policies were the basic standards and processes adopted by the executive
committee of an organization and are used in planning its financial reports. Those include all
accounting processes, measuring systems and report reporting techniques. Accounting
practices vary from reporting standards in that regulations are the laws and regulations are
the ways an organization adheres to those rules. IFRS 9 IFRS9 is a publication by the
International Accounting Standards Board of the International Financial Reporting Standard
(IFRS). It deals with financial products transparency. It covers three major subjects:
description and calculation of financial instruments, financial asset deficiency and hedge
accounting. IFRS 9 as updated has four different classification groups for financial assets
(such as an FVOCI category for credit instruments). The identification of subject to two
measures, one of the SPPI negotiated cash flow checks and one of the business strategy
assessments. If the asset fulfils all test conditions, it is calculated at market value in
compliance with all adjustments in benefit and loss fair market value reporting (FVPL). The
cash flows again from transaction will only include the interest and principal to satisfy the
statutory cash flow check.
List of 20 companies
Consolidated financial statement of listed companies on which prepare financial
statement as per the IFRS standard:
Unilever