Accounting, Auditing and Taxation

IAS 7 Statement of Cash Flows

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<b><span style="color: #c00000; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">IAS 7
Statement of Cash Flows</span></b></h2>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Components of Cash
Flows Statement<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Operating
Activities</span></b></h3>
<h4 style="text-align: left;">
<span style="font-family: Arial, sans-serif; font-size: 12pt; font-weight: normal; line-height: 115%;">Main revenue producing
activities of the entity and other activities that are not investing or financing
activities (including taxes paid/received, unless clearly attributable to
investing or financing activities).</span></h4>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Investing
Activities</span></b></h3>
<h4 style="text-align: left;">
<span style="font-family: Arial, sans-serif; font-size: 12pt; font-weight: normal; line-height: 115%;">Activities that relate to
the acquisition and disposal of long-term assets and other investments that are
not included in cash equivalents.</span></h4>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Financing
Activities</span></b></h3>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Activities that cause
changes to contributed equity and borrowings of an entity.</span><i><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Received
or paid interest and dividends are disclosed separately and can be classified
as operating, investing or financing, based on their nature and as long as they
are consistently treated from period to period.</span></i></span></h4>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Reporting Cash Flows from Operating Activities<o:p></o:p></span></b></div>
<h4 style="text-align: left;">
<span style="font-family: Arial, sans-serif; font-size: 12pt; font-weight: normal; line-height: 115%;">Cash flows from
operating activities can be reported using the direct or indirect method.</span></h4>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Direct
Method</span></b></h3>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cash received from customers<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cash paid to suppliers<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cash paid to employees<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cash paid for operating expenses<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Interest paid<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Taxes paid<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Dividends paid<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;">Net cash from operating activities.</span><o:p></o:p></span></h4>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Indirect
Method</span></b></h3>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The net cash flow from operating activities is determined by adjusting profit
or loss for the effects of:</span></span></h4>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Changes during the period in
inventories and operating receivables and payables<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Non-cash items such as
depreciation, provisions, deferred taxes, unrealized foreign                   currency gains and
losses, and undistributed profits of associates<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;"><span style="font-weight: normal;">All other items for which the
cash effects are investing or financing cash flows.</span><o:p></o:p></span></h4>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Definition: Cash and Cash Equivalents<o:p></o:p></span></b></div>
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<span style="font-weight: normal;"><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">         </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Short term (where the original maturity is 3
months or less, irrespective of maturity timing           post balance date)<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Highly liquid investments<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Readily convertible to known amounts of cash<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Subject to insignificant risk of changes in
value.<br /><o:p></o:p></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"> </span></span></h4>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Considerations to Note<o:p></o:p></span></b></div>
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<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="font-weight: normal;">·</span><span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"><span style="font-weight: normal;"> </span>       <span style="font-weight: normal;">
</span></span></span><span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Non cash investing and financing activities
must be disclosed separately<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cash flows must be reported gross. Set-off is
only permitted in very limited cases and             additional disclosures are required
(refer to IAS 7.24 for examples relating to term                   deposits and loans)<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Foreign exchange transactions should be
recorded at the rate at the date of the cash             flow<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Acquisition and disposal of subsidiaries are
investment activities and specific additional           disclosures are required<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Where the equity method is used for joint
ventures and associates, the statement of cash       flows should only show cash
flows between the investor and investee<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Where a joint venture is proportionately
consolidated, the venture should only include its       proportionate share of the
cash flows of the joint venture<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Disclose cash not available for use by the
group<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Assets and liabilities denominated in a
foreign currency generally include an element of         unrealized exchange difference
at the reporting date<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Disclose the components of cash and cash
equivalents and provide a reconciliation back       to the statement of financial
position amount if required<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;">Non-cash investing and financing transactions
are not to be disclosed in the statement of       cash flows.</span><b><o:p></o:p></b></span></h4>
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IAS 7 Statement of Cash Flows

IAS 7 Statement of Cash Flows Components of Cash Flows Statement Operating Activities Main revenue producing activities of the en...

IAS 2 Inventories

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<b><span style="color: #c00000; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 11.0pt;">IAS 2
Inventories</span></b></h2>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Definition<o:p></o:p></span></b></div>
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<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Inventories
are assets:</span></b></h3>
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<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="font-weight: normal;">·</span><span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"><span style="font-weight: normal;">     </span>   <span style="font-weight: normal;">
</span></span></span><span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Held for sale in ordinary course of business<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">In the process of production for such sale<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;">In the form of materials or supplies to be consumed
in the production process or in the           rendering of services.</span><o:p></o:p></span></h4>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Scope<o:p></o:p></span></b></div>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">All inventories except:</span></span></h4>
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<span style="font-weight: normal;"><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Construction contracts (IAS 11 Construction
Contracts)<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Financial instruments (IAS 32 Financial
Instruments:<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Presentation & 39 Financial Instruments:
Recognition and measurement)<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Biological assets (IAS 41 Agriculture).<br /><o:p></o:p></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><br /></span></span></h4>
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<span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Does not apply to
measurement of inventories held by:</span></span></h4>
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<span style="font-weight: normal;"><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Producers of agricultural and forest products
measured at NRV<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Minerals and mineral products measured at NRV<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Commodity brokers who measure inventory at
fair value less costs to sell.<br /><o:p></o:p></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"> </span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Inventories are measured at
the lower of cost and net realizable value (NRV)</span></span></h4>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Cost<o:p></o:p></span></b></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cost
of Inventory includes:</span></b></h3>
<h4 style="text-align: left;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="font-weight: normal;">·</span><span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;"><span style="font-weight: normal;"> </span>     <span style="font-weight: normal;">  
</span></span></span><span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Costs of purchase, including non-recoverable
taxes, transport and handling<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Net of trade volume rebates<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Costs of conversion<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Other costs to bring inventory into its
present condition and location.<br /><o:p></o:p></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"> </span></span></h4>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cost
of inventory excludes:</span></b></h3>
<h4 style="text-align: left;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-weight: normal;"><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Abnormal waste<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Storage costs (unless necessary for the
production process)<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Admin overheads not related to production<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Selling costs<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Interest cost (where settlement is deferred)<br /><o:p></o:p></span><span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">     o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;">IAS 23 Borrowing Costs identifies rare
circumstances where borrowing costs can be                 included.</span><o:p></o:p></span></h4>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Cost Formulas<o:p></o:p></span></b></div>
<h4 style="text-align: left;">
<span style="font-weight: normal;"><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">For non-interchangeable items:<br /><o:p></o:p></span><span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">      o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Specific identification.<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">For interchangeable items, either:<br /><o:p></o:p></span><span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">      o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">FIFO<br /><o:p></o:p></span><span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">      o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Weighted average cost.<br /><o:p></o:p></span><span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Use of LIFO is prohibited.<br /><o:p></o:p></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"> </span></span></h4>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Measurement Techniques<o:p></o:p></span></b></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">   
</span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Standard
Cost Method<o:p></o:p></span></b></h3>
<h4 style="text-align: left;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;">Takes into account normal levels of materials
and supplies, labour, efficiency and capacity utilization. They are regularly
reviewed and, if necessary, revised in the light of current conditions.</span><b><o:p></o:p></b></span></h4>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">   
</span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Retail
Method<o:p></o:p></span></b></h3>
<h4 style="text-align: left;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;">Often used in the retail industry for
measuring inventories of large numbers of rapidly changing items with similar
margins for which it is impracticable to use other costing methods. The cost of
the inventory is determined by reducing the sales value of the inventory by the
appropriate percentage gross margin.</span><b><o:p></o:p></b></span></h4>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Net Realisable Value<o:p></o:p></span></b></div>
<h4 style="text-align: left;">
<span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Net
Realisable Value</span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;"><span style="font-weight: normal;"> is the estimated selling price in the
ordinary course of business, less the estimated costs of completion and the
estimated costs to make the sale.</span><o:p></o:p></span></h4>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
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IAS 2 Inventories

IAS 2 Inventories Definition Inventories are assets: · Held for sale in ordinary course of business · In the ...

IAS 1 Presentation of Financial Statements

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<h2 style="text-align: left;">
<b><span style="color: #c00000; font-family: Arial, sans-serif; line-height: 115%;"><span style="font-size: large;">IAS 1 Presentation of Financial Statements</span></span></b></h2>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Overall
Considerations<o:p></o:p></span></b></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Fair
presentation and compliance with IFRSs<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Financial
statements are required to be presented fairly as set out in the framework and
in accordance with IFRS and are required to comply with all requirements of
IFRSs.<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Going
concern<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Financial
statements are required to be prepared on a going concern basis (unless entity
is in liquidation or has ceased trading or there is an indication that the
entity is not a going concern).<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Accrual
basis of accounting<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Entities
are required to use accrual basis of accounting except for cash flow
information.<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Presentation
consistency<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">An
entity is required to retain presentation and classification from one period to
the next.<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Materiality
and aggregation<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Each
material class of similar assets and items of dissimilar nature or function is
to be presented separately.<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Offsetting<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Offsetting
of assets and liabilities or income and expenses is not permitted unless
required by other IFRSs.<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: Arial;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-weight: normal; line-height: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Comparative
information<o:p></o:p></span></b></h3>
<div class="MsoNormal" style="margin-left: .25in; text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">At
least 1 year of comparative information (unless impractical).<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Components of
Financial Statements<o:p></o:p></span></b></div>
<h3 style="text-align: left;">
<b><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">A complete set of financial statements comprises:</span></b></h3>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l4 level1 lfo2; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Statement of
financial position<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l4 level1 lfo2; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Statement of
comprehensive income <b>or </b>an income statement and statement of  comprehensive income<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l4 level1 lfo2; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Statement of
changes in equity<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l4 level1 lfo2; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Statement of
cash flows<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l4 level1 lfo2; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12pt; line-height: 115%;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">Notes.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: Arial, sans-serif; font-size: 12pt; line-height: 115%;">All statements are required to be presented with equal prominence.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Structure and Content<o:p></o:p></span></b></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Identification
of the financial statements</span></b></h3>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Financial statements must be
clearly identified and distinguished from other information in the same
published document, and must identify:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l12 level1 lfo3; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Name of the reporting entity<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l12 level1 lfo3; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Whether the financial statements cover the
individual entity or a group of entities<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l12 level1 lfo3; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The statement of financial position date (or
the period covered)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l12 level1 lfo3; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The presentation currency<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l12 level1 lfo3; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The level of rounding used.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Reporting Period<o:p></o:p></span></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Accounts presented at least annually<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l7 level1 lfo4; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">If longer or shorter, entity must disclose
that fact.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Statement of
Financial Position</span></b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l13 level1 lfo5; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Present current and non-current items
separately; or <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l13 level1 lfo5; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-bidi-font-weight: bold; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Present items in order of liquidity<b><o:p></o:p></b></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Current assets</span></b></h3>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">    </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Expected to be realized in, or is intended
for sale or consumption in  the entity’s
n  operating cycle <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Held primarily for trading <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Expected to be realized within 12 months <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l3 level1 lfo6; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Cash or cash equivalents. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">All other assets are
required to be classified as non-current.<o:p></o:p></span></div>
<h3 style="text-align: left;">
<b><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Current liabilities</span></b></h3>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l1 level1 lfo7; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Expected to be settled in the entity’s no
operating cycle <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l1 level1 lfo7; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Held primarily for trading <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l1 level1 lfo7; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Due to be settled within 12 months <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l1 level1 lfo7; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">     </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The entity does not have an unconditional
right to defer settlement of the liability for at least 12 months. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">All other liabilities are
required to be classified as non-current.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Statement of
Comprehensive Income</span></b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;"><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l6 level1 lfo8; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">An entity presents all items of income and
expense recognized in a period, either:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l6 level2 lfo8; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">In a single statement of comprehensive income<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l6 level2 lfo8; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">In two statements: a statement displaying
components of profit or loss (separate income statement) and a second statement
of other comprehensive income.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l6 level1 lfo8; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Information required to be presented in the:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l8 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Statement of comprehensive income is defined
in IAS 1.82 - 87<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l8 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Profit or loss as defined in IAS 1.88<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l8 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Other comprehensive income in IAS 1.90-96.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l8 level1 lfo9; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Further information required to be presented
on the face or in the notes to the Statement of Comprehensive Income is
detailed in IAS 1.97<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l11 level1 lfo10; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">      </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Entities must choose between ‘function of
expense method’ and ‘nature of expense           method’ to present expense items<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l11 level1 lfo10; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">      </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Line items within other comprehensive income
are required to be categorized into two       categories:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l10 level1 lfo11; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Those that could subsequently be reclassified
to profit or loss <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: 49.5pt; mso-add-space: auto; mso-list: l10 level1 lfo11; text-align: justify; text-indent: -.25in;">
<span style="font-family: "Courier New"; font-size: 12.0pt; line-height: 115%; mso-fareast-font-family: "Courier New";">o<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Those that cannot be re-classified to profit
or loss. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Statement of
Changes in Equity<o:p></o:p></span></b></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Information required to be
presented:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l5 level1 lfo12; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">     </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Total comprehensive income for the period,
showing separately attributable to owners or the parent and non-controlling
interest<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l5 level1 lfo12; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">  </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">For each component of equity, the effects of
retrospective application/restatement recognized in accordance with IAS 8 <i>Accounting
Policies, Changes in Accounting Estimates and Errors</i><o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l5 level1 lfo12; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">      </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The amounts of transactions with owners in
their capacity as owners, showing separately contributions by and distributions
to owners<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l5 level1 lfo12; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">    </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">For each component in equity a reconciliation
between the carrying amount at the beginning and end of the period, separately
disclosing each change<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l5 level1 lfo12; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">   </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Amount of dividends recognized as
distributions to owners during the period (can alternatively be disclosed in
the notes)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l5 level1 lfo12; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Analysis of each item of OCI (alternatively
to be disclosed in the notes).<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="background: #C00000; text-align: justify;">
<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Statement of Cash
Flows<o:p></o:p></span></b></div>
<div class="MsoListParagraph" style="margin-left: .25in; mso-add-space: auto; mso-list: l9 level1 lfo13; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Provides users of financial statements with
cash flow information – refer IAS 7 <i>Statement of Cash Flows</i>.<o:p></o:p></span></div>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Notes to the
Financial Statements<o:p></o:p></span></b></div>
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<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Statement of compliance with IFRSs<o:p></o:p></span></div>
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<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Significant accounting policies, estimates,
assumptions, and judgments must be disclosed<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l9 level1 lfo13; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Additional information useful to users
understanding/ decision making to be presented<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l9 level1 lfo13; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">        
</span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Information that enables users to evaluate
the entity’s objectives, policies and processes for managing capital.<o:p></o:p></span></div>
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<br /></div>
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<b><span style="color: white; font-family: "Arial","sans-serif"; font-size: 14.0pt; line-height: 115%; mso-bidi-font-size: 12.0pt; mso-themecolor: background1;">Third Statement of
Financial Position<o:p></o:p></span></b></div>
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<span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">The improvement clarifies in
regard to a third statement of financial position required when an entity
changes accounting policies, or makes retrospective restatements or
reclassifications:<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpFirst" style="margin-left: .25in; mso-add-space: auto; mso-list: l2 level1 lfo14; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">       </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Opening statement is only required if impact
is material<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-left: .25in; mso-add-space: auto; mso-list: l2 level1 lfo14; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">   </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Opening statement is presented as at the
beginning of the immediately preceding comparative period required by IAS 1
(e.g. if an entity has a reporting date of 31 December 2012 statement of
financial position, this will be as at 1 January 2011)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-left: .25in; mso-add-space: auto; mso-list: l2 level1 lfo14; text-align: justify; text-indent: -.25in;">
<span style="font-family: Symbol; font-size: 12.0pt; line-height: 115%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;">·<span style="font-family: 'Times New Roman'; font-size: 7pt; line-height: normal;">       </span></span><span style="font-family: "Arial","sans-serif"; font-size: 12.0pt; line-height: 115%;">Only include notes for the third period
relating to the change.<o:p></o:p></span></div>
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IAS 1 Presentation of Financial Statements

IAS 1 Presentation of Financial Statements Overall Considerations 1. Fair presentation and compliance with IFRSs Financial state...

Audit and Assurance Notes By Muhammad Asif ACA

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Audit and Assurance notes by Muhammad Asif (ACA). </h2>
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He is a renowned teacher in CA. He put his full efforts to make these notes easy and compatible with official book of Institute of Chartered Accountants of Pakistan (ICAP). </div>
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This is a series of 25 chapters covering full syllabus.</div>
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Chapter No 1. Introduction to Assurance and Non-Assurance Services<br />
<a href="http://www.mediafire.com/view/wg3lwt06c80vg2e/Chapter_1_(Updated_including_Practice_Questions).pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 2. Basic Concepts of Auditing<br />
<a href="http://www.mediafire.com/view/yhv1xud7x7w7lcb/Chapter_2_(Updated_including_Practice_Questions).pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 3. Players of the Game & What They Do<br />
<a href="http://www.mediafire.com/view/qh9bzu1488aaytu/Chapter_3_(Updated_including_Practice_Questions).pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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<span style="font-family: ''; text-align: justify;">Chapter No 4. Audit Documentation</span><br />
<span style="font-family: ''; text-align: justify;"><a href="http://www.mediafire.com/view/bbu64yg6m55j3wb/Chapter_4_(Updated_including_Practice_Questions).pdf" rel="nofollow" target="_blank">Click Here to View or Download</a> </span></div>
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Chapter No 4B. Audit Evidence<br />
<a href="http://www.mediafire.com/view/kuuudwodogydebu/Chapter_4B_Audit_Evidence.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 5. Auditor's Report and Types of Opinion<br />
<a href="http://www.mediafire.com/view/4uq6gqipy7i1yoi/Chapter_5_(Updated_including_Practice_Questions).pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 6. Preliminary Engagements Activities<br />
<a href="http://www.mediafire.com/view/9krha7n891z8nw5/Chapter_6_(including_Q._&_A.)_Linked_with_ICAP_Text.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 7. Compliance with Legal Requirements<br />
<a href="http://www.mediafire.com/view/ahfdojz689t6wsp/Chapter_7_Compliance_with_Legal_requirements.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 8. Compliance with Ethical Requirements<br />
<a href="http://www.mediafire.com/view/ga6w2xbpjc44r00/Chapter_8_Compliance_with_Ethical_requirements.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 9. Planning an Audit<br />
<a href="http://www.mediafire.com/view/4yaqo512hfa58dh/Chapter_9_Planning_an_Audit.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 10. Risk Assessment<br />
<a href="http://www.mediafire.com/view/8vg27raz4s1s21j/Chapter_10_Risk_Assessment.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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 Chapter No 11. TOC & SP of Sales Cycle<br />
<a href="http://www.mediafire.com/view/vfkcqm1v47u7pk8/Chapter_11Tests_of_Controls_&_Substantive_Procedures_of_Sales_Cycle.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a> </div>
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Chapter No 12. <span style="font-family: '';">TOC & SP of Purchase Cycle</span><br />
<a href="http://www.mediafire.com/view/diufvt8f87ni46g/Chapter_12_Tests_of_Controls_&_Substantive_Procedures_of_Purchase_Cycle.pdf" rel="nofollow" target="_blank">Click Here to View or Download </a></div>
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Chapter No 13. <span style="font-family: '';">TOC & SP of Payroll</span><br />
<a href="http://www.mediafire.com/view/7sxnqgchzamfn2z/Chapter_13_Tests_of_Controls_&_Substantive_Procedures_of_Payroll.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 14. <span style="font-family: '';">TOC & SP of Inventory and Fixed Assets</span><br />
<a href="http://www.mediafire.com/view/fqc75fgi43nvpja/Chapter_14_Tests_of_Controls_&_Substantive_Procedures_of_Inventory_and_Fixwd_Assets.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 15. <span style="font-family: '';">TOC & SP of Accrued Expenses, Intangible Assets, Contingencies etc.</span><br />
<a href="http://www.mediafire.com/view/pkdnf1il0hbgj04/Chapter_15_Tests_ooff_Controls_&_Substantive_Procedures_of_Accrued_Expenses,_Intangible_Assets,_Contigencies_etc..pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 16. Documentation of a System<br />
<a href="http://www.mediafire.com/view/rokqhsokf563o17/Chapter_16_Documentation_of_a_System.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 17. IT Concepts and Controls<br />
<a href="http://www.mediafire.com/view/j114mbq65y2b82y/Chapter_17_IT_concepts_and_Controls.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 18. External Confirmation<br />
<a href="http://www.mediafire.com/view/rg2hat6ll43qw9p/Chapter_18_External_Confirmation.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 19. Audit Sampling<br />
<a href="http://www.mediafire.com/view/hfcql77oor47rt5/Chapter_19_Audit_Sampling.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 20. Analytical Procedures<br />
<a href="http://www.mediafire.com/view/7rhbbst5ez01o0l/Chapter_20_Analytical_Procedures.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 21. Fraud Consideration in Audit<br />
<a href="http://www.mediafire.com/view/r8gn09p5dttvksq/Chapter_21_Fraud_Consideration_in_Audit.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 22. Related Parties<br />
<a href="http://www.mediafire.com/view/jq1aemkhnfejcjm/Chapter_22_Related_Parties.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 23. Final Matters<br />
<a href="http://www.mediafire.com/view/cw7ozbn97h5kobn/Chapter_23_Final_Matters.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 24. Reliance in Others<br />
<a href="http://www.mediafire.com/view/35d7fo6foar37r3/Chapter_24_Reliance_on_Others.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Chapter No 25. Review Engagement<br />
<a href="http://www.mediafire.com/view/if1t9h66iht14h2/Chapter_25_Review_Engagement.pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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<br /></div>
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ICAP Past Questions Tests of Controls &  Substantive Procedures (Ch. 11 to 15) <a href="http://www.mediafire.com/view/iog62nmjkj7s2ih/ICAP_Past_Questions_Tests_of_Controls_&__Substantive_Procedures_(Ch._11_to_15).pdf" rel="nofollow" target="_blank">Click Here to View or Download</a></div>
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Audit and Assurance Notes By Muhammad Asif ACA

Audit and Assurance notes by Muhammad Asif (ACA). He is a renowned teacher in CA. He put his full efforts to make these notes easy and ...

Companies Ordinance of 1984

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<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">The corporate sector in Pakistan is governed by the Companies Ordinance 1984 </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">which was promulgated on 8th October 1984 and repealed the Companies Act, 1913. </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">The avowed objectives of the Companies Ordinance 1984 were inter alia to </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">consolidate and amend the law relating to companies and certain other associations </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">for the purpose of healthy growth of corporate enterprises, protection of investors and </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">creditors, promotion of investment and development of economy. The detailed </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">provisions of the Companies Ordinance, 1984 sought to meet these objectives and </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">have been amended and updated from time to time to keep in line with the changing </span><span style="font-family: Arial,Helvetica,sans-serif; font-size: small;">circumstances.</span></h3>
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Companies Ordinance of 1984

The corporate sector in Pakistan is governed by the Companies Ordinance 1984 which was promulgated on 8th October 1984 and repealed the C...