Revenue and expenses - part 2
In this lesson, you'll learn how to account for foreign exchange differences, share-based payments, and taxation in financial statements—all critical areas for Financial Reporting and Audit and Assurance papers.
This lesson is part of a paid course
Buy the course to unlock every video lesson and the AI Tutor, plus mock exams with feedback on CIMA courses.
Already bought? Sign in
Ask the AI tutor anything about this lesson
It knows every lesson in the course — explanations, clarifications, practice questions.
In this lesson
- 0:00 Foreign exchange effects on assets and liabilities
- 1:00 Translating branches and subsidiaries into presentation currency
- 2:02 Audit procedures for exchange rate verification
- 2:30 Share-based payments accounting treatment
- 3:31 Audit procedures for share-based payments
- 4:26 Current and deferred tax accounting
- 5:04 Deferred tax calculation and audit procedures
About this lesson
You'll discover when to retranslate monetary and non-monetary assets, how to treat exchange gains and losses, and the audit procedures needed to verify these transactions. The video also covers equity-settled and cash-settled share schemes, plus the distinction between current and deferred tax, with practical guidance on documentation, calculations, and IFRS compliance to ensure your financial statements are accurate and properly disclosed.
Duration: 7m
Transcript
Every lesson comes with a full searchable transcript - included with the course.
Get the Advanced Audit and Assurance course
All 177 video lessons, an AI Tutor in every lesson and lifetime access.
Already bought? Sign in