Preparation of MPERS financial statement

1. MPERS Preparation of MPERS
Financial Statement
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Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

2. Financial statement presentation
• Comparative information (S3.14)
• An entity shall disclose comparative information in respect of previous
comparable period for all amounts presented in the current period's
financial statements
• Narrative and descriptive information when it is relevant to an
understanding of the current period's financial statement
• Examples of when comparative amounts must be restated include:
• An amendment to MPERS that requires retrospective application
• A voluntary change in an accounting policy
• The correction of a prior period error
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

3. • Comparative information (cont'd)
• Example of disclosures for which comparative information need not be
provided include:
• The reconciliation between the carrying amount of investment property at the
beginning and end of the reporting period
• The reconciliation between the carrying amount of each class of the intangible
assets and property, plant and equipment at the beginnning and end of the
period.
• Disclosure about classes of provision
• The reconciliation of the opening and closing balances of a defined benefit plan
obligation
• The reconciliation of opening and closing balances of the fair value of the plan
assets in respect of a defined benefit plan
Financial statement presentation
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

4. Composition of financial statement
• Complete set of financial statements
• Statement of financial position (SOFP)
• Statement of comprehensive income (SOCI) (one or two statement)
• Statement of changes in equity
• Statement of cash flow (SOCF)
• Notes to the financial statement
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

5. Statement of financial position
• Minimum line item to be presented on the face of SOFP (S4.2)
• Current / Non-current distinction
• No prescribed sequencing
• Either in SOFP or in the notes
• Subclassifications (S4.11)
• Share capital (S4.12)
• At reporting date, an entity has a binding sale agreement for major
disposal of assets or a group of assets and liabilities shall disclose:
(S4.14)
• Description and carrying amount of the assets or the group of assets and
liabilities
• Description of the facts and circumstances of the sale or plan
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

6. © Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

7. © Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

8. Statement of comprehensive income
• Accounting policy choice of presenting total comprehensive
income
• One or two statements
• Change from one to two statements approach = change in
accounting policy
• Other comprehensive income (S5.4)
• Revaluation reserve
• Foreign currency translation reserve
• Hedging reserve
• Share-based payment reserve
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

9. Statement of changes in equity
• Presenting the statement of changes in equity included: (S6.3)
• The effects of any retrospective application of accounting policies or
restatements made in accordance with Section 10
• Reconciliations between the carrying amounts at the beginning and the end
of the period for each component of equity, separately disclosing:
• profit or loss
• other comprehensive income
• transactions with owners, showing separately contributions by and distributions to
owners and changes in ownership interests in subsidiaries that do not result in a loss
of control
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

10. Notes to the financial statement
• Structure of notes:
• Statement of compliance (with MPERS) (S8.3)
• Summary of significant accounting policies applied
• Supporting information for items presented in FS
• Any other disclosure
• Information about judgement used in the applying the accounting
policies
• Information about key sources of estimation uncertainty at the
reporting date
• Nature of assets and liabilities
• Carrying amount as at the end of the reporting period
© Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.

11. © Copyright of KTP & THK
Contents of this presentation are adapted from the current of legislation at the time of presentation. No person should rely on the contents of this publication without first
obtaining professional advice. We, KTP or THK, shall expressly disclaim all and any liability and responsibility to any person in reliance in whole or any part of this contents.