IAS 1

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IAS 1

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IAS 1

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IAS 1

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IAS1

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 Terms
• Other Comprehensive Income: Unrealized
gains and losses on available for sale securities 
• Gains and losses on derivatives held as 
cash flow hedges 
• Gains and losses resulting from translating the
financial statements of foreign subsidiaries
• Actuarial gains and losses on defined benefit
plans recognized
• Changes in the revaluation surplus

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 Terms - 1
• Other current assets is a default classification
of "current asset" general ledger accounts
that does not include the following major
current assets:
• Cash.
• Marketable securities.
• Accounts receivable.
• Inventory.
• Prepaid expenses.
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 Terms - 2
• Retained earnings are simply the accumulation of
profits ( not distributed by way of dividend or
otherwise ) generated from the trading activities of
the group.
• “Other components of equity” are all the other
elements “belonging” / attributable to the equity
shareholders ie to those who are financing the
activities of the group.
• “Other components” include share capital, share
premium, revaluation reserve, general reserve, non-
controlling interests
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 Terms - 3
• Share capital the nominal value of the equity shares in issue
• Share premium any premium which has been received on the issue of equity
shares in so far as it hasn’t been used by eg financing a bonus issue
• Revaluation reserve accumulated revaluation surpluses on TNCA in so far as
not subsequently reversed or released into retained earnings
• General reserve the accumulation of amounts diverted from retained
earnings into a reserve specifically designed to set aside funds for a defined
project where the company will need the funds later
• Non controlling interest ( I don’t believe that I’m having to write all this for a
P2 student! ) the accumulated entitlement of the minority shareholders to
the assets of the subsidiary companies ie the extent to which the nci is
financing the group’s activities
• “Other component of equity” if looking at mixed or compound instruments –
when, having measured the debt element, the balance between face value
and present value of debt will be credited to an “other component of equity”

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