Issues Surrounding the Recognition and Measurement of Certain Accounts from British Airways Plc

1. Introduction British Airways plc (or BA) exigencys to grow in its monetary death penalty of instrument just like any other companies, to dispose its shareholders that the latter(prenominal) have made their correct decisions and that investors may continue to stay on the company should it seek expansion as the economy would composition the same. There is necessitate to convince the decision makers on their need for financial reporting, which is governed by internationalistic account standards (IAs) as issued by the International Accounting Standards Board (IASB). This paper seeks to explore the issues parry the cognizance and measure of Intangibles in the financial statements of British Airways plc (2011) as governed by IAS 38. This paper will look into how IAS was possibly obeyed or violated by the company in relation to what in general a company should behave in the zeal of financial statements for users. 2. Analysis and Discussion 2 .1 What are the issues surrounding cognition and quantity of elements in the financial statements?

The issues surrounding the recognition and measurement of elements in the financial statements would normally pertain to those that would not form along with the prerequisites of international accounting standards on recognition and measurement of accounting elements. in the beginning the accounting elements become part of the financial statements required from companies in particular the publicly listed ones, a transaction or event should comply first with the standards requirement on measurement. \ The a ccounting elements are referring to the asse! ts, liabilities, equity, revenue enhancement and expenses (Englard, 1995). 2.2 The accounting theory on recognition of accounting elements and IASBs fashion model on recognition and measurement. The accounting theory on recognition of accounting elements requires that before assets, liabilities, revenues and expenses should be recognized in the financial statements, certain requirements must be...If you want to get a extensive essay, order it on our website: OrderCustomPaper.com

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