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VGU RESEARCH REPOSITORY


Please use this identifier to cite or link to this item: https://epub.vgu.edu.vn/handle/dlibvgu/1162
Title: Critical analysis of IFRS practice statement 2: making materiality judgments
Authors: Nguyen Phan Ngoc Han 
Keywords: Critical Analysi;IFRS practice
Issue Date: 2019
Publisher: Vietnamese-German University
Abstract: 
In the real world, making materiality judgements is difficult and entities request the IASB to provide further guidance on materiality. Recently issued non-mandatory guidance on making materiality judgements has been received different comments from the public. This thesis analyzes the IFRS Practice Statement 2: Making materiality judgements to demonstrate whether the guidance constitute improvement of financial reporting and describe the real expectation of the public. The analysis is conducted by summarizing comments in tables and combining with opinions from academic source. After that, a detailed analysis on specific aspects are performed to achieve the purpose of this paper. Materiality assessment process includes four steps and materiality is affected by quantitative and qualitative factors. Entities can disclose information not in the scope of IFRS Standards if local laws and regulations require. Before issued, the guidance is finalized based on several comments from different sources on form as well as the content of guidance. The aim of the Practice Statement 2 is to provide guidance for reporting entities as well as satisfying demand for having help from the IASB in dealing difficult problems of those entities. The Practice Statement 2 is welcomed because it is useful in assisting management to make materiality judgements even though it still contains defects.
URI(1): http://epub.vgu.edu.vn/handle/dlibvgu/1162
Rights: Attribution-NonCommercial 4.0 International
Appears in Collections:Finance & Accounting (FA)

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