Unlocking Online Signature Licitness: Streamlining Business Ethics and Conduct Disclosure in UAE

How to eSign a document: online signature licitness for Business Ethics and Conduct Disclosure Statement in UAE

this is a lecture from open tuition to benefit from the lecture you should download the free lecture notes from opentuition.com so in the last bit of that video we said don't worry so much where about the changes in the assets and liability values go uh well this is where it goes okay this is where we'll quickly very briefly talk about it's regards to the presentation and disclosure and again when you look at the individual financial statements or i should say the accounting standards they give you the information about what should be disclosed and also about how those figures should be presented within the financial statements uh presentation again covered more in is one so what you've then got if you like is the changes go through the your statement of profit or loss that's the primary source isn't it about how company has performed so changes in the asset change in the liabilities value uh again linking it back to the definitions of income and expense so income being increases in assets reductions in liabilities expenses being reductions in assets and increases in liabilities those changes in a go to your primary source of information on performance which is your statement to profit or loss okay however the standard i say standard this isn't a standard it's the framework apologies what it then goes on to say within the framework is that any changes in the current value so remember changes in current value can come around from changing fair value uh changes in your value in use or fulfillment value or change in the current value yes they're going to go through profit or loss but it says they can be recognized through other comprehensive income so we've seen that before having with regards to your evaluation of property plants and equipment okay uh it can be recognized through other comprehensive income instead because effectively it has yet to be realized okay you will see other changes go through other comprehensive income when we get to financial instruments and looking at the change in value of your financial assets uh particularly there with your equity investments and the changes can either go through profit or loss or other comprehensive income but hold that thought for now uh it also then goes on to briefly mention reclassification uh so you can go through and take what's been recognized in oci and transfer it through to profit or loss if it gives more relevant information so again going back to the qualitative characteristics if it is relevant to show it in profit or loss and reclassify it that way then do so if not just process it as a reserve transfer which is effectively what we do with regards to ppe once it's been revalued the gain goes through oci into your evaluation surplus and then when that asset is de-recognized we do a reserve transfer that takes the gain from your evaluation surplus into your retained earnings through the statement of changes in equity because it's not more relevant to reclassify it to profit or loss because that gain was made uh several years ago it has now just been realized so it's not so relevant to recognize it in profit or loss now is it but there are some items whereby that can happen and again you'll see that specifically in some of the accounting standards that follow later in this syllabus and in strategic business reporting