PRESENTED BY; SHUAIB ADEADEBAYO HND,BSC,ACA,CFE,ACCA,CERT IN

IFRS.

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QUALITATIVE CHARACTERISTIC OF FINANCIAL STATEMENT COMPONENT OF FINANCIAL STATEMENT ELEMENT OF FINANCIAL STATEMENT RECOGNITION OF ELEMENT OF FINANCIAL STATEMENT DESCRIPTION OF FINANCIAL STATEMENT PERIOD OF FINANCIAL STATEMENT APPROVAL OF FINANCIAL STATEMENT DISCLOSURE OF ITEMS IN FINANCIAL STATEMENT SPECIMEN OF FINANCIAL STATEMENT UNDER IFRS SUMMARY

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 ASSETS.

Are resources presently control by an entity in which an inflow of economic benefit are expected Asset can only be recognized if; It can be measured reliable It can be demonstrated that there will be an inflow of economic benefits an entity presently control the asset It can be demonstrated that the asset will be used to generate economic benefit, or used to accelerate generation of economic benefit
Presentation of financial statement(adeadebayo1751@yahoo.com) 11/15/2013

 LIABILITIES.

Are present obligation due to an organization in which an outflow of economic benefit are expected. Liability can only be recognized if; contractual & legal obligation exist it can be demonstrated there will be an outflow of economic benefit It can be measured reliable

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INCOME; Are gross inflow of economic benefit during an accounting year end. Income can only be recognized if; There will be an inflow of economic benefit from operating activities for the period There is increase in asset There is decrease in liabilities

Presentation of financial statement(adeadebayo1751@yahoo.com)

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 EXPENSES;

Are gross outflow of economic benefit during an accounting year end. Expenses can only be recognized if ; It can be demonstrated that there will be an outflow of economic benefit from the operating activities for the year end There is increased in liabilities There is decreased in asset

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 IAS

1 states that an entity must approved there financial statements for the users of financial statement to make a timely and effective economic decision on or before six (6months) after their reporting date (year end)

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IAS 1 states that an entity must disclosed in the notes to the account all material items in the financial statements to aid users understanding and decision making

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ADEADEBAYO NIGERIA PLC STATEMENT OF FINANCIAL POSITION as at 31 DECEMBER, 2011 #000 #000 Assets Non-current assets Property, plant and equipment ****** Investments at fair ****** Goodwill ****** Developmental cost ****** Patent right & others ****** TOTAL NON CURRENT ASSET ******
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CURRENT ASSET #000 Inventory Trade Receivables Bank Cash Bill of exchange receivable Government Grant receivable Loan Advanced receivable Prepayments TOTAL CURRENT ASSET TOTAL ASSET
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#000 ****** ****** ****** ****** ****** ****** ****** ****** ****** ******
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EQUITY & LIABILITIES EQUITY Ordinary share Share premium Retain earnings Revaluation reserve General reserve Share option TOTAL EQUITY
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#000

#000
****** ****** ****** ****** ****** ******* ******

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LIABILITIES #000 NON CURRENT LIABILITIES Preference share Debenture Long term liabilities Deferred income Contingent liabilities Deferred tax liabilities Leased obligations TOTAL NON CURRENT LIABILITIES
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#000
****** ****** ****** ****** ****** ****** ****** ******
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CURRENT LIABILITIES #000 Trade payable Bank overdraft Tax payable Accrual Short time loan TOTAL CURRENT LIABILITIES TOTAL EQUITY & LIABILITIES

#000 ****** ****** ****** ****** ****** ****** ******

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ADEADEBAYO NIGERIA PLC SOPOLAOCI FOR THE YEAR ENDED 31 DEC 2011 #000
Revenue Cost of sales (w (i)) Gross profit Distribution costs Administrative expenses Operating Income Investment income Gain on fair value of investments ******* (*******) ******* (*******) (*******) ******* ******* *******

Finance costs
Profit before tax Income tax expense

Profit for the period

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(*******) ******* (*******) *******

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OTHER COMPREHENSIVE INCOME; #000 Gain/loss on foreign exchange ****** Revaluation surplus ****** F/V increase in NCA available 4sales ****** Gain/loss on employee benefit ****** Total other comprehensive income ****** Total comprehensive income ******

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ADEADEBAYO NIGERIA PLC STATEMENT OF CHANGE IN EQUITY as at 31 December 2011 O/S S/P R/E R/R G/R TOTAL # # # # # # Bal b/d *** *** *** *** *** **** Prior yr adj *** **** Movement Profit for the yr *** **** Bal b/d *** *** *** *** *** ****
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IAS 7 governs cash flow statement. It allow two method of presentation 1.Direct Method 2. Indirect Method

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ADEADEBAYO NIGERIA PLC STATEMENT OF CASH FLOW AS AT 3I DEC 2011 INDIRECT METHOD OPERATING ACTIVITIES Profit b/4 tax Add/lee non cash items; Depreciation Amortization Profit/loss on disposal of pp Provisions Finance cost
Presentation of financial statement(adeadebayo1751@yahoo.com) 11/15/2013

#000 ****** ****** ****** ****** ****** ******

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#000

Movement in working capital; Increase/decrease in inventory Increase/decrease in Receivable Increase/decrease in Payable Increase/decrease in lease Cash generated from operation Less finance cost paid Cash generated b/4 tax Tax paid Net operating cash flow
Presentation of financial statement(adeadebayo1751@yahoo.com) 11/15/2013

****** ****** ****** ****** ******* (*****) ******* (******) *******

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INVESTING ACTIVITIES Purchase of PPE Disposal proceed from PPE Developmental cost Investment cost Dividend received from investment Investment income Net investing Activities

#000 (*****) ****** (*****) (*****) ****** ****** ******

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FINANCING ACTIVITIES; Ordinary shares issued Loan note redeemed Preference shares issued Dividend paid Net financing Activities Cash balance b/d 1/1/2011 Net cash flow for the year Cash balance b/d 31/12/2011
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#000 ****** (*****) ****** (*****) ******* ******* ******* *******

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NOTE; Under direct method or indirect method the presentation for INVESTING ACTIVITIES and FINANCING ACTIVITIES remain the same except for operating activities.

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$000 Cash generated from customer xxxxx Cash paid to supplier (xxxx) Cash paid to employee (xxxx) _____ Net cash flow from operation xxxx Finance cost paid (xxxx) Net cash flow b/4 Tax xxxx Tax paid (xxxx) Net operating cash flow xxxx
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THANK YOU

FOR YOUR TIME

adeadebayo1751@yahoo.com

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