Table of Contents
Preface and Introduction 1
Professional Associations and Regulatory Framework 3
Regulatory Framework and Particularities 5
General Principles of Financial Reporting and the Preparation of the Financial statements 7
Qualitative Characteristics of Financial Reporting 7
General Principles of the Financial Reporting 10
Accounting Policies, Correction of Accounting Errors and Subsequent Events 15
Accounting Policies 15
Corrections of Accounting Errors 16
Subsequent Events 18
Fixed Assets, General Recognition criteria 20
Intangible Fixed Assets 22
Categories of Intangible Fixed Assets 24
Third-party Purchase 24
Internally Generated Intangible Fixed Assets 25
Research Costs 26
Development Costs 26
Set up costs 29
Positive Goodwill 29
Negative Goodwill 31
Tangible Fixed Assets 34
Recognition Criteria 34
Measurement Criteria 35
Subsequent/Additional Costs for Fixed Tangible Assets 37
The measurement method at revaluation model 39
Examples of recording of expert reports at fair-value 43
Investment Properties 48
The Assets with a Long Production Cycle 51
Depreciation of Fixed Assets 54
Financial Fixed Assets 57
Current Assets 58
Measurement of the Current Assets 59
Inventories 60
Biological Assets in the form of Inventory and Agricultural Products 63
Inventories: Permanent and at costs, revenues and stock valorization methods 65
Booking of the the Inventories 67
Cost of the inventories 69
Examples of "Price Differences" Calculation 72
Assessment from the Exit Date of the Entity 78
Commercial and Financial discounts 80
Separate Accounts of Green Certificates 82
Equity and Revaluation Reserves 86
Surplus and Share Premium 88
Revaluation Reserves 89
Legal/Fiscal Particulars on Revaluation Reserves 91
Chart of Accounts 100
