TIỂU LUẬN KẾ TOÁN QUỐC TẾ ĐỀ TÀI So sánh hai chuẩn mực IAS 10 và VAS 23

- IAS 10 defines events occurring after the reportingperiod as those that have a positive or negative effect,occurringbetweentheendofthereporting periodandthe date the financial stateme

ĐỀ TÀI:

So sánh hai chuẩn mực IAS 10 và VAS 23

TrườngĐạihọcĐàLạtK

hoaKT-QTKD

TIỂULUẬN KẾTOÁNQUỐCTẾ

GV: Nguyễn Hoàng Nhật

HoaLớp:KTK43

SVTH: NguyễnThịThùyTrang–1910416

1 IAS InternationalAccountingStandard ChuẩnmựckếtoánQ

uốctế

2 VAS VietNamAccountingStandard ChuẩnmựckếtoánVi

ệtNam

MỤCLỤC

I PHẦNMỞĐẦU(Heading)

1 Tínhcấpthiếtcủađềtài( Theurgencyofthesubject)

2 Mụctiêunghiêncứu( Objectivesofthestudy)

3 Đốitượngvàphạmvinghiêncứu(Objectandscopeofthe

study)

4 Phươngphápnghiêncứu(ResearchMethods)

II CÁCVẤNĐỀCƠBẢNCỦAIAS10VÀVAS23

1.Cáck h á i n i ệ m v à n ộ i d u n g c ơ b ả n c ủ a c h u ẩ n m ự c k

ế toánquốc tế số10 (IAS10)

2.Cáck h á i n i ệ m v à n ộ i d u n g c ơ b ả n c ủ a c h u ẩ n m ự c k

ế toánsố 23 ( VAS23)

3.So sánhhaichuẩnmựcIAS10và VAS 23

1.

The urgency of thesubject

Currently, the issue of transparency of financial information

ofcompanies in the Vietnamese market in particular and theinternational market in general

is a very important issue forinvestors When a misinformation or lack of information canalso affect investment decisions, investors must scrutinize

thefinancialinformationofthebusinessmorecarefully,especiallyevents that fall into the sensitive time such as the end of thereportingperiod or after

thereportingperiod.

Since the 70s of the 20th century, the world has paid attention toevents arising after the date of the report because it is believedthat the events that meet certain criteria reflect or

materiallyaffecttheinformation.financialstatements,therebyaffectin gthefairness of the statements After several stages of revision,International Accounting Standard No 10 was released to guidethe accounting treatment

of events arising after the reportingperiod that partly had a

significant impact on improving theaccounting system

transparency and fair accuracy of thefinancialstatements.

InVietnam,accountingstandardNo.23-eventsarisingaftertheend of the reporting period was also born to catch up with theworld trend However, the actual application and the remainingdifferences between the international accounting standard IAS10 and the Vietnamese accounting standard VAS 23 are thingsthatneedtobediscussed.Therefore,weneedtore-presentthe

developmentofthesetwoaccountingstandards.Also,comparethesetwo accountingstandards

2.

Objectives of the study

The topic focuses on analyzing and clarifying some

maincontentsofStandard10andcomparingitwithVietnameseAccou ntingStandardNo.23.

3.

Object and scope ofthestudy

3.1

: Researchsubjects:

InternationalAccountingStandardNo.10andVietnameseAccountingS tandardNo.23

3.2

: Researchscope:

Themaintopicistostudytheoreticalstandards.

4.

Research Methods

Thestudymainlyusesdescriptive,analyticalandcomparativemethod s.

II/

1.

Basic concepts and contents of International Acco

unting Standard No.10 (IAS10):

1.1

: The concept:

- IAS 10 defines events occurring after the

reportingperiod as those that have a positive or

negative effect,occurringbetweentheendofthereporting periodandthe date the financial statements are officially issued.awake There are two types of events that are

clearlydistinguishedbyIAS10:

+ First, the events that provide evidence of

existenceduringthereportingperiodarethosethatariseafterther eportingperiod that require adjustment.

+ Second, events that provide evidence of

statusoccurring after the reporting period are

eventsoccurringafterthereportingperiodthatarenotsubje cttoadjustment.

The next issue that IAS noted was the release offinancial statements Although the financial statementrelease

process will take many ways depending on

themanagement structure, operator requirements

andinternal processes However, the way to determine

theissuance date to have a basis for determining the

timeafterthereportingperiodisalsoconsistentinanumberof noted principles Determining the date of issue ofthefinancial

statementsisofgreatlegalimportance

e the period of separation to identify eventsafter the end of the

reporting period report to

makereasonableadjustments.

-IAS 10 explains this concept by giving

illustrativeexamples The general guidelines to consider fordeterminingtheissuancedateoffinancialstatements(authorizat iondate)areasfollows:

+ When a business is required to submit

financialstatementsforshareholderapprovalafterthefina ncialstatements have been issued, the legal issue of thefinancial statements

in this case is the date of initialissue and is not the date on which the shareholdersaccept the financial statements

+ When an enterprise is required to issue

financialstatements to internal control, the issue date is legallythedateonwhichmanagementauthorizestoissuethefinan cial statementstothesupervisoryboard.

1.2

: Basiccontent of IAS 10:

1.2.1 : Recognition andmeasurement:

IAS10requiresanenterprisetoadjusttheamountrecognizedinitsfinancialstatementstoreflecteventsoccurring afterthe reportingperiod

In addition, IAS 10 also deals with events occurring after the reporting period that are not subject toadjustment,asopposedtoeventsafterthereportingdatethatshouldbeadjusted,non-adjustingeventsoccurring after the reporting period and no relationship reflects that which existed at the time

ofreporting.Forexample,animpairmentinthemarketvalueofaninvestmentbetweenthereportingdateand the date the financial statements are issued This impairment is not related to the entity'sperformance at the reporting date but reflects

subsequent performance Therefore, the enterprise doesnothavetoadjustthe

recognizedvalueoftheinvestment inthefinancialstatements

1.2.2 : Dividend:

With respect to dividends, IAS 10 has its own guidance that does not include examples when

presentingadjusted or non-adjusted events Accordingly, if a dividend is declared after the end of the reportingperiod, the enterprise is not required to recognize this dividend as a liability in the reporting period Ifdividends are declared after the balance sheet date but before the financial statements are issued,

thedividendsarenotrecognizedasaliabilityasaliabilitybecause,atthereportingdate,theyhavenotbeenformed.lia bilitiesrelatedtodividends,whichdonotmeettheconditionsforrecognitionofliabilities

ThisisbecausetheIASB'sinnovativeviewhaseliminatedtheexpressionasacomponentoftheequityofthedividend Theaccrualrecognitionofadividendobligationisnotconsideredaprudentcaseandisnotrecognizedunderany circumstances

1.2.3 : Continuousoperation:

Thedeteriorationinthefinancialpositionattheendofthereportingperiodcastssignificantdoubtonthe going concern IAS

10 requires an enterprise not to prepare its financial statements on the goingconcern basis if management confirms after the end of the reporting period that liquidation

isanticipated.ThisshouldalsobedisclosedinthefinancialstatementsinaccordancewithIAS10

1.2.4 : Announced:

IAS 10 requires businesses to announce the official date of the report's release and who is authorized toissue the report If there is an amendment to the report from the owner or authorized person, thisshould be disclosed IAS 10 also requires disclosure of events that existed during the reporting period ifinformation is received after the

reporting period about conditions that existed during the reportingperiod This regulation obliges an enterprise during the period after the end of the annual accountingperiod and before the issuance of the financial statements, all information that may affect the figures inthe financial statements of the enterprise will be must

be reviewed on an ongoing basis before beingreflected in the amounts in the financial statements In many cases, even

if information updated to

thedateofissuedoesnotaffectthefiguresinthefinancialstatements,enterprisesstillneedtodisclosethisinformation with theissued financialstatements

=>In summary:IAS 10 provides very specific guidance on the accounting treatment of events

arisingafter the reporting period It specifies the concept and the basis for determining the time to cut off toknowiftheeventneedstobeadjustedornot.Thedetermination andadjustmentofanyitemisbasedon this standard and also considers whether the occurrence meets the conditions for recognitionunder theguidance

ofotherrelevantaccounting standards arenot

2.

Basic conceptsand contents ofAccounting Stan

dard

No 23:

2.1

: The concept:

Standard No.23– Events occurring after the balancesheetdate

The purpose of VAS 23 is to provide guidance and regulations in case enterprises have to adjust

financialstatements,principlesandmethodsofadjustingfinancialstatementswhenthereareeventsarisingafterthe end

of the accounting period.Explanation of the issue date of the financial statements and eventsoccurringafterthe balancesheetdate

2.2

:Basiccontent of VAS 23:

2.2.1 : Recognition and identification:

Events occurring after the balance sheet date require adjustment The enterprise must adjust

theamountsrecognizedinthefinancialstatementstoreflecteventsoccurringafterthebalancesheetdate.needadju stment

2.2.2 : Continuousoperation:

- If the Board of Directors confirms after the end of the annual accounting period that there is

anexpecteddissolutionoftheenterprise,cessationofproductionandbusiness,significantreductionofthescale of operation or bankruptcy, the enterprise shall not prepare financial statements on basis of thegoingconcern principle

- Ifbusinessresultsareimpairedandthefinancialpositiondeterioratesafterthebalancesheetdate,thegoing concern principle must be reviewed as to whether the financial statements are still relevant If thegoing concern principle is no longer suitable for preparing financial statements, the enterprise mustfundamentally change the accounting basis, not just adjust the recorded data according to the originalaccountingbasis

2.2.3 : Presenting financial statements:

- Issuedateoffinancialstatements

+Enterprisesmustdisclosethedateofissueoffinancialstatementsandthepersonwhodecidestoissuethem If the business owner or other authorized person requires an amendment to the financialstatementspriortoissue,the businessmust

disclosethis

+Itisimportantforusersoffinancialstatementstoknowthatfinancialstatementsdonotreflecteventsoccurringaftert

he date ofissue

-Presentationofeventsthatexistedduringtheaccountingperiod

+Ifanentityreceivesinformationafterthebalancesheetdateabouteventsthatexistedduringtheaccountingperio d,theenterprisemustdisclosetheseeventsinlightofthenewinformation

+ In some cases, an enterprise must present in its financial statements to reflect information

receivedafter the balance sheet date, even if this information does not affect the amounts presented

in

thefinancialstatements.financialstatements.Example:Afterthebalancesheetdate,thereisevidenceofacontingentli ability thatexisted during theaccounting period

- Eventsoccurringafterthebalancesheetdatedonotrequireadjustment

+If unadjusted events occurring after the balance sheet date are material, failure to disclose

theseeventscouldinfluencetheeconomicdecisionsofusersbasedonfinancialinformation.financialreport +Eventsoccurringafterthebalancesheetdatethatdonotrequireadjustmentshouldbedisclosedinthefinancial statements

3.

Compare two standards IAS10andVAS23: