Examinable disclosures

In this lesson

1. 0:00 FA Syllabus disclosure requirements overview
2. 1:00 Property plant and equipment IS 16 disclosures
3. 2:03 IS 16 reconciliation and revalued asset details
4. 3:00 Intangible assets IS 38 key disclosures
5. 4:05 IS 38 reconciliation and revaluation requirements
6. 5:04 Provisions and contingent liabilities IS 37
7. 6:16 Contingent assets and events after reporting
8. 7:21 Inventory IS 2 disclosure requirements
9. 8:06 Common exam question on intangible disclosures

About this lesson

This lesson revises the specific information you must present in your financial statement notes—from measurement bases and depreciation methods to reconciliations of opening and closing balances—ensuring you meet examiner expectations and avoid costly omissions in your answers. The lesson walks through each International Standard's disclosure requirements in detail. For PPE and intangibles, you'll master the reconciliation format showing additions, depreciation or amortisation, revaluations, disposals, and impairment losses. For provisions and contingent liabilities, you'll understand what nature, timing, and financial impact information must be disclosed. You'll also see how revalued assets require additional disclosures, and learn the specific requirements for inventory accounting policies and carrying amounts. Worked examples and a practice question help reinforce which disclosures are examinable and which are not. Understanding these disclosures is critical because examiners expect precision and completeness in your notes to the financial statements. Missing or incorrectly presented disclosures will cost you marks, even if your calculations are correct. This lesson ensures you can confidently tackle disclosure-focused questions and present professional, compliant financial statements.

Duration: 9m