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Flashcards in FRA Deck (17)
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1

♦FRA♦ Investment in Financial Assets (<20%) - HTM (Hold-to-maturity)

BS @ cost

unrealized @ -

realized @ NI (interest and dividend)

only debt securities

BoP: $ paid

NI (interest): $ * YTM

OCI: -

EoP: EoP + [(interest) - (coupon * par)]

2

♦FRA♦ Investment in Financial Assets (<20%) - AFS (Available-for-Sale)

BS @ FV

unrealized @ OCI

realized @ NI (interest and dividend)

debt + equity securities

BoP: FV

NI (interest): $ * YTM

OCI: FV - Beg - [(interest) - (coupon * par)] 

EoP: FV

3

♦FRA♦ Investment in Financial Assets (<20%) - HFT (Hold-for-Trading)

BS @ FV

unrealized @ -

realized @ NI (all)

debt + equity securities

BoP: FV

NI (interest): $ * YTM + FV - Beg - [(interest) - (coupon * par)] 

EoP: FV

4

♦FRA♦ Investment in Financial Assets (<20%) - IFRS / US GAAP

HFT to any = restricted under IFRS

IFRS reconhece FX do AFS no NI !!!!

Lembrar que não da para mudar de reclassificação sem passar por resultado.

- Incluir/Retirar HFT = NI

- HTM > AFS = OCI

- AFS > any = NI

5

♦FRA♦ Investment in Financial Assets (<20%) - Impairment

IFRS: Reversion allowed for debt

US GAAP: Reversion not allowed

6

♦FRA♦ Investment in Associates (>20% <50%) - Equity Method

BS0: Single line in Non-current assets (Goodwill fica dentro)

BS1: Beg + Income - Dividend

NI: Single line ("Equity income") after operating income = (NI - Depreciação Adicional) * %

GAAP ok with FV / IFRS only for VCs, PEs, etc

Transaction with associates: only when confirmed (você tira a sua parte do lucro que ainda continua em estoque e soma na data que for vendida. A parte vendida para o outro sócio pode ser reconhecida no mesmo período)

7

♦FRA♦ Control (<50%) - Acquisition Method

BS: Consolidate 100%,

Identifiable assets @ FV. O que sobra é goodwill.

Seu equity e REarnings ficam iguais, só cria a linha de minority interest

NI: Dedutor que tira o % do minoritário

IFRS - partial or full US GAAP - full

Partial: Price - Assets * %

Full: Price / % - Assets (já reconhece o valor para o minoritário na largada. + Goodwill e + Minority Interest)

8

♦FRA♦ Defined benefit plan - PBO

PBO beg (+) Current Service Cost (+) Interest Cost (+) Past Service Cost (+/-) Actuarial Losses and Gains (-) Benefits Payed PBO end

9

♦FRA♦ Defined benefit plan - Plan Assets

Plan Assets beg (+) Contribution (+) Actual return (-) Benefits Payed Plan Assets end

10

♦FRA♦ Defined benefit plan - Funded Status

Plan Assets - PBO

11

♦FRA♦ Defined benefit plan - Total Periodic Pension Cost (TPPC)

Contributions - ∆ funded status

12

♦FRA♦ Defined benefit plan - NI and OCI

IFRS NI = Current Service Cost + Past Service + Net Interest Cost²

²(discount rate * funded status beg)

OCI = Actual return + Interest - Net interest + Actuarial *ou* TPPC - P&L

US GAAP NI = Current Service Cost + Interest Cost² - Exp Return ²(discount rate * PBO beg) ³(exp r * Plan assets beg)

OCI = Actual return - Exp return + Actuarial + Past Service *ou* TPPC - P&L

Corriddor approach: If accum OCI > 10% * max(PBO, Assets), then amortize the difference

13

♦FRA♦ Currency Translation - Current Method

USD > CAD > CAD All @ current or avg (só equity no hist) CTA no balanço - conta de chegada pro balanço fechar. Diferença do anterior vai para o OCI

14

♦FRA♦ Currency Translation - Temporal Method

USD > CAD > USD Monetary @ current, Non-monetary @ hist, Revenues @ avg, COGS @ hist Remeasurement Gain no NI - conta de chegada pro NI bater com o que deve ser pro BS fechar. Plug fica no retained earnings.

15

♦FRA♦ Currency Translation - Hyperinflation

Quando > 100% em 3 anos IFRS - Reajusta e current US GAAP - Troca para temporal

16

♦FRA♦ Investment in Associates (>20% <50%) Impairment

IFRS: Carrying < Recoverable = IMPAIRMENT -

 

US GAAP: Carrying < FV = Check for -> Impair diff between implied value of goodwill (FV) and identifiable assets (novo goodwill) 

17

♦FRA♦ Accrual Ratio (BS & CF)

BS: (NOAend - NOAbeg) / (NOAend - NOAbeg) /2

CF: (NI - CFO - CFI) / (NOAend - NOAbeg) /2