Добавил:
ivanov666
Опубликованный материал нарушает ваши авторские права? Сообщите нам.
Вуз:
Предмет:
Файл:Стандарты финансовой отчетности в корпоративном бизнесе. Учебное пособие на английском языке
.pdf
e) the carrying amount of investments in subsidiaries, branches and asso-
Temporary differences
Would lead to reduction of tax payments
in case of an asset realization or settlement
of the liability
Would lead to increase in tax payments
in case of an asset realization or settlement of the liability
Deferred tax asset (requirement) - DTA
Deferred tax liability - DTL
ciates or interests in joint ventures becomes different from the tax base of the
investment or interest.
Deductible temporary differences
A deferred tax asset shall be recognised for all deductible temporary dif-
ferences to the extent that it is probable that taxable profit will be available
against which the deductible temporary difference can be utilised, unless the
deferred tax asset arises from the initial recognition of an asset or liability in a
transaction that:
(a) is not a business combination;
(b) at the time of the transaction, affects neither accounting profit nor
taxable profit (tax loss).
However, for deductible temporary differences associated with invest-
ments in subsidiaries, branches and associates, and interests in joint ventures, a
deferred tax asset shall be recognised.
BV – book value
TB – tax base
TD – temporary difference
BV of asset > TB of asset Taxable TD
BV of liability < TB of liability Deferred tax liability (DTL)
BV of asset < TB of asset Deductible TD
BV of liability > TB of liability Deferred tax asset ( DTA)
Book value – Tax base = Temporary Difference
Temporary difference * Tax Rate = Deferred Tax
Measurement
Current tax liabilities (assets) for the current and prior periods shall be
measured at the amount expected to be paid to (recovered from) the taxation
authorities, using the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax assets and liabilities shall be measured at the tax rates that
are expected to apply to the period when the asset is realised or the liability is
71
settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Current and deferred tax assets and liabilities are usually measured using
the tax rates (and tax laws) that have been enacted. However, in some jurisdictions, announcements of tax rates (and tax laws) by the government have the
substantive effect of actual enactment, which may follow the announcement by
a period of several months. In these circumstances, tax assets and liabilities are
measured using the announced tax rate (and tax laws).
When different tax rates apply to different levels of taxable income, de-
ferred tax assets and liabilities are measured using the average rates that are
expected to apply to the taxable profit (tax loss) of the periods in which the
temporary differences are expected to reverse.
The measurement of deferred tax liabilities and deferred tax assets shall
reflect the tax consequences that would follow from the manner in which the
entity expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
In some jurisdictions, the manner in which an entity recovers (settles) the
carrying amount of an asset (liability) may affect either or both of:
(a) the tax rate applicable when the entity recovers (settles) the carrying
amount of the asset (liability);
(b) the tax base of the asset (liability).
In such cases, an entity measures deferred tax liabilities and deferred tax
assets using the tax rate and the tax base that are consistent with the expected
manner of recovery or settlement.
Example.
An asset has a carrying amount of 100 and a tax base of 60. A tax rate of
20% would apply if the asset were sold and a tax rate of 30% would apply to
other income.
The entity recognises a deferred tax liability of 8 (40 at 20%) if it expects
to sell the asset without further use and a deferred tax liability of 12 (40 at
30%) if it expects to retain the asset and recover its carrying amount through
use.
Deferred tax assets and liabilities shall not be discounted.
Current and deferred tax shall be recognised as income or an expense and
included in profit or loss for the period, except to the extent that the tax arises
from:
a) a transaction or event which is recognised, in the same or a different
period, outside profit or loss, either in other comprehensive income or directly
in equity; or
b) a business combination.
Most deferred tax liabilities and deferred tax assets arise where income or
expense is included in accounting profit in one period, but is included in taxable profit (tax loss) in a different period.
72
The carrying amount of deferred tax assets and liabilities may change
even though there is no change in the amount of the related temporary differences. This can result, for example, from:
a) a change in tax rates or tax laws;
b) a reassessment of the recoverability of deferred tax assets; or
c) a change in the expected manner of recovery of an asset.
Items recognised outside profit or loss
Current tax and deferred tax shall be recognised outside profit or loss if
the tax relates to items that are recognised, in the same or a different period,
outside profit or loss. Therefore, current tax and deferred tax that relates to
items that are recognised, in the same or a different period:
in other comprehensive income, shall be recognised in other comprehen-
sive income,
directly in equity, shall be recognised directly in equity.
IFRS require or permit particular items to be recognised in other compre-
hensive income. Examples of such items are:
a) a change in carrying amount arising from the revaluation of property,
plant and equipment (IAS 16);
b) exchange differences arising on the translation of the financial state-
ments of a foreign operation (IAS 21).
IFRS require or permit particular items to be credited or charged directly
to equity. Examples of such items are:
(a) an adjustment to the opening balance of retained earnings resulting
from either a change in accounting policy that is applied retrospectively or the
correction of an error (IAS 8);
(b) amounts arising on initial recognition of the equity component of a
compound financial instrument.
Tax expense
The tax expense (income) related to profit or loss from ordinary activities
shall be presented as part of profit or loss in the statement(s) of profit or loss
and other comprehensive income.
Disclosure
The major components of tax expense (income) shall be disclosed sepa-
rately.
Components of tax expense (income) may include:
(a) current tax expense (income);
(b) any adjustments recognised in the period for current tax of prior periods;
(c) the amount of deferred tax expense (income) relating to the origina-
tion and reversal of temporary differences;
(d) the amount of deferred tax expense (income) relating to changes in
tax rates or the imposition of new taxes;
73
(e) the amount of the benefit arising from a previously unrecognised tax
loss, tax credit or temporary difference of a prior period that is used to reduce
current tax expense;
and other.
The following shall also be disclosed separately:
a) the aggregate current and deferred tax relating to items that are charged
or credited directly to equity;
b) the amount of income tax relating to each component of other compre-
hensive income;
c) an explanation of the relationship between tax expense (income) and
accounting profit in either or both of the following forms:
– a numerical reconciliation between tax expense (income) and the prod-
uct of accounting profit multiplied by the applicable tax rate(s), disclosing also
the basis on which the applicable tax rate(s) is (are) computed; or
– a numerical reconciliation between the average effective tax rate and
the applicable tax rate, disclosing also the basis on which the applicable tax
rate is computed;
(d) an explanation of changes in the applicable tax rate(s) compared to
the previous accounting period;
(e) the amount (and expiry date, if any) of deductible temporary differ-
ences, unused tax losses, and unused tax credits for which no deferred tax asset
is recognised in the statement of financial position;
(f) the aggregate amount of temporary differences associated with in-
vestments in subsidiaries, branches and associates and interests in joint ventures, for which deferred tax liabilities have not been recognised;
(i) in respect of each type of temporary difference, and in respect of each
type of unused tax losses and unused tax credits:
– the amount of the deferred tax assets and liabilities recognised in the
statement of financial position for each period presented;
– the amount of the deferred tax income or expense recognised in profit
or loss, if this is not apparent from the changes in the amounts recognised in
the statement of financial position;
(h) in respect of discontinued operations, the tax expense relating to:
– the gain or loss on discontinuance;
– the profit or loss from the ordinary activities of the discontinued opera-
tion for the period, together with the corresponding amounts for each prior
period presented;
(i) the amount of income tax consequences of dividends to shareholders
of the entity that were proposed or declared before the financial statements
were authorised for issue, but are not recognised as a liability in the financial
statements;
74
(j) if a business combination in which the entity is the acquirer causes a
change in the amount recognised for its pre-acquisition deferred tax asset, the
amount of that change;
(k) if the deferred tax benefits acquired in a business combination are not
recognised at the acquisition date but are recognised after the acquisition date,
a description of the event or change in circumstances that caused the deferred
tax benefits to be recognised.
IAS 19 "Employee benefit"
The objective of this Standard is to prescribe the accounting and disclo-
sure for employee benefits. The Standard requires an entity to recognise:
– a liability when an employee has provided service in exchange for em-
ployee benefits to be paid in the future;
– an expense when the entity consumes the economic benefit arising from
service provided by an employee in exchange for employee benefits.
Standard shall be applied by an employer in accounting for all employee
benefits, except those to which IFRS 2 “Share-based Payment applies”.
Standard does not deal with reporting by employee benefit plans (IAS 26
“Accounting and Reporting by Retirement Benefit Plans”).
Employee benefits include:
a) short-term employee benefits, such as wages, salaries and social secu-
rity contributions, paid annual leave and paid sick leave, profit-sharing and
bonuses (if payable within twelve months of the end of the period) and nonmonetary benefits (such as medical care, housing, cars and free or subsidised
goods or services) for current employees;
b) post-employment benefits such as pensions, other retirement benefits,
post-employment life insurance and post-employment medical care;
c) other long-term employee benefits, including long-service leave or
sabbatical leave, jubilee or other long-service benefits, long-term disability
benefits and, if they are not payable wholly within twelve months after the end
of the period, profit-sharing, bonuses and deferred compensation;
d) termination benefits.
Definitions
Employee benefits are all forms of consideration given by an entity in ex-
change for service rendered by employees.
Short-term employee benefits are employee benefits (other than termina-
tion benefits) that are due to be settled within 12 months after the end of the
period in which the employees render the related service.
Post-employment benefits are employee benefits (other than termination
benefits) which are payable after the completion of employment.
75
Post-employment benefit plans are formal or informal arrangements un-
der which an entity provides post-employment benefits for one or more employees.
Defined contribution plans are post-employment benefit plans under
which an entity pays fixed contributions into a separate entity (a fund) and will
have no legal or constructive obligation to pay further contributions if the fund
does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.
Defined benefit plans are post-employment benefit plans other than de-
fined contribution plans.
Multi-employer plans are defined contribution plans (other than state
plans) or defined benefit plans (other than state plans) that:
– pool the assets contributed by various entities that are not under com-
mon control;
– use those assets to provide benefits to employees of more than one enti-
ty, on the basis that contribution and benefit levels are determined without
regard to the identity of the entity that employs the employees concerned.
Other long-term employee benefits are employee benefits (other than
post-employment benefits and termination benefits) that are not due to be settled within 12 months after the end of the period in which the employees render the related service.
Termination benefits are employee benefits payable as a result of either:
(a) an entity’s decision to terminate an employee’s employment before
the normal retirement date; or
(b) an employee’s decision to accept voluntary redundancy in exchange
for those benefits.
Vested employee benefits are employee benefits that are not conditional
on future employment.
The present value of a defined benefit obligation is the present value,
without deducting any plan assets, of expected future payments required to
settle the obligation resulting from employee service in the current and prior
periods.
Current service cost is the increase in the present value of a defined bene-
fit obligation resulting from employee service in the current period.
Interest cost is the increase during a period in the present value of a de-
fined benefit obligation which arises because the benefits are one period closer
to settlement.
Plan assets comprise:
(a) assets held by a long-term employee benefit fund; and
(b) qualifying insurance policies.
Assets held by a long-term employee benefit fund are assets (other than
non-transferable financial instruments issued by the reporting entity) that:
76
(a) are held by an entity (a fund) that is legally separate from the report-
ing entity and exists solely to pay or fund employee benefits;
(i) are available to be used only to pay or fund employee benefits, are not
available to the reporting entity’s own creditors (even in bankruptcy), and can-
not be returned to the reporting entity, unless either:
– the remaining assets of the fund are sufficient to meet all the related
employee benefit obligations of the plan or the reporting entity; or
– the assets are returned to the reporting entity to reimburse it for em-
ployee benefits already paid.
A qualifying insurance policy is an insurance policy1 issued by an insurer
that is not a related party (as defined in IAS 24) of the reporting entity, if the
proceeds of the policy:
(a) can be used only to pay or fund employee benefits under a defined
benefit plan;
(i) are not available to the reporting entity’s own creditors (even in bank-
ruptcy) and cannot be paid to the reporting entity, unless either:
– the proceeds represent surplus assets that are not needed for the policy
to meet all the related employee benefit obligations; or
– the proceeds are returned to the reporting entity to reimburse it for em-
ployee benefits already paid.
Fair value is the amount for which an asset could be exchanged or a lia-
bility settled between knowledgeable, willing parties in an arm’s length trans-
action.
The return on plan assets is interest, dividends and other revenue derived
from the plan assets, together with realised and unrealised gains or losses on
the plan assets, less any costs of administering the plan (other than those included in the actuarial assumptions used to measure the defined benefit obligation) and less any tax payable by the plan itself.
Actuarial gains and losses comprise:
(a) experience adjustments (the effects of differences between the previ-
ous actuarial assumptions and what has actually occurred); and
(b) the effects of changes in actuarial assumptions.
Past service cost is the change in the present value of the defined benefit
obligation for employee service in prior periods, resulting in the current period
from the introduction of, or changes to, post-employment benefits or other
long-term employee benefits. Past service cost may be either positive (where
benefits are introduced or changed so that the present value of the defined benefit obligation increases) or negative (where existing benefits are changed so
that the present value of the defined benefit obligation decreases).
Short-term employee benefits
Short-term employee benefits include items such as:
(a) wages, salaries and social security contributions;
77
(b) short-term compensated absences (such as paid annual leave and paid
sick leave) where the compensation for the absences is due to be settled within
12 months after the end of the period in which the employees render the related employee service;
(c) profit-sharing and bonuses payable within twelve months after the end
of the period in which the employees render the related service; and
(d) non-monetary benefits (such as medical care, housing, cars and free
or subsidised goods or services) for current employees.
Recognition and measurement
All short-term employee benefits
When an employee has rendered service to an entity during an accounting
period, the entity shall recognise the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service:
a) as a liability (accrued expense), after deducting any amount already
paid. If the amount already paid exceeds the undiscounted amount of the benefits, an entity shall recognise that excess as an asset (prepaid expense) to the
extent that the prepayment will lead to, for example, a reduction in future
payments or a cash refund;
b) as an expense, unless another Standard requires or permits the inclu-
sion of the benefits in the cost of an asset (IAS 2, IAS 16).
Short-term compensated absences
An entity shall recognise the expected cost of short-term employee bene-
fits in the form of compensated absences as follows:
(a) in the case of accumulating compensated absences, when the employ-
ees render service that increases their entitlement to future compensated absences;
(b) in the case of non-accumulating compensated absences, when the ab-
sences occur.
Profit-sharing and bonus plans
An entity shall recognise the expected cost of profit-sharing and bonus
payments when, and only when:
(a) the entity has a present legal or constructive obligation to make such
payments as a result of past events;
(b) a reliable estimate of the obligation can be made.
A present obligation exists when, and only when, the entity has no realis-
tic alternative but to make the payments.
Disclosure
Although IAS 19 does not require specific disclosures about short-term
employee benefits, other Standards may require disclosures. For example, IAS
24 requires disclosures about employee benefits for key management personnel. IAS 1 requires disclosure of employee benefits expense.
78
Post-employment benefits
Post-employment benefits include, for example:
a) retirement benefits, such as pensions;
b) other post-employment benefits, such as post-employment life insur-
ance and post-employment medical care.
An entity may pay insurance premiums to fund a post-employment bene-
fit plan. The entity shall treat such a plan as a defined contribution plan unless
the entity will have (either directly, or indirectly through the plan) a legal or
constructive obligation to either:
(a) pay the employee benefits directly when they fall due; or
(b) pay further amounts if the insurer does not pay all future employee
benefits relating to employee service in the current and prior periods.
If the entity retains such a legal or constructive obligation, the entity shall
treat the plan as a defined benefit plan.
Recognition and measurement
When an employee has rendered service to an entity during a period, the
entity shall recognise the contribution payable to a defined contribution plan in
exchange for that service:
a) as a liability (accrued expense), after deducting any contribution al-
ready paid. If the contribution already paid exceeds the contribution due for
service before the end of the reporting period, an entity shall recognise that
excess as an asset (prepaid expense) to the extent that the prepayment will lead
to, for example, a reduction in future payments or a cash refund;
b) as an expense, unless another Standard requires or permits the inclu-
sion of the contribution in the cost of an asset (IAS 2, IAS 16).
Where contributions to a defined contribution plan do not fall due wholly
within twelve months after the end of the period in which the employees render the related service, they shall be discounted using the discount rate.
Actuarial assumptions: salaries, benefits and medical costs
Post-employment benefit obligations shall be measured on a basis that re-
flects:
a) estimated future salary increases;
b) the benefits set out in the terms of the plan (or resulting from any con-
structive obligation that goes beyond those terms) at the end of the reporting
period; and
c) estimated future changes in the level of any state benefits that affect
the benefits payable under a defined benefit plan, if, and only if, either:
– those changes were enacted before the end of the reporting period; or
– past history, or other reliable evidence, indicates that those state bene-
fits will change in some predictable manner, for example, in line with future
changes in general price levels or general salary levels.
79
Disclosure
An entity shall disclose the amount recognised as an expense for defined
contribution plans.
Where required by IAS 24 an entity discloses information about contribu-
tions to defined contribution plans for key management personnel.
Statement of fi nancial p osi tio n
The amount recognised as a defined benefit liability shall be the net total
of the following amounts:
a) the present value of the defined benefit obligation at the end of the re-
porting period;
b) plus any actuarial gains (less any actuarial losses) not recognised be-
cause of the treatment;
(c) minus any past service cost not yet recognised;
(d) minus the fair value at the end of the reporting period of plan assets
(if any) out of which the obligations are to be settled directly.
Other long-term employee benefits
Other long-term employee benefits include, for example:
(a) long-term compensated absences such as long-service or sabbatical
leave;
(b) jubilee or other long-service benefits;
(c) long-term disability benefits;
(d) profit-sharing and bonuses payable twelve months or more after the
end of the period in which the employees render the related service; and
(e) deferred compensation paid twelve months or more after the end of
the period in which it is earned.
Recognition and measurement
The amount recognised as a liability for other long-term employee bene-
fits shall be the net total of the following amounts:
(a) the present value of the defined benefit obligation at the end of the re-
porting period;
(b) minus the fair value at the end of the reporting period of plan assets
(if any) out of which the obligations are to be settled directly.
For other long-term employee benefits, an entity shall recognise the net
total of the following amounts as expense or income, except to the extent that
another Standard requires or permits their inclusion in the cost of an asset:
a) current service cost;
b) interest cost;
c) the expected return on any plan assets and on any reimbursement right
recognised as an asset;
d) actuarial gains and losses, which shall all be recognised immediately;
(e) past service cost, which shall all be recognised immediately;
(f) the effect of any curtailments or settlements.
80
Соседние файлы в предмете [НЕСОРТИРОВАННОЕ]