NFRS :2 Share-based Payment

Nepal Financial Reporting Standard 2

Share-based Payment

1)     Application

An entity shall apply this NFRS in accounting for all share-based payment transactions, whether or not the entity can identify specifically some or all of the goods or services received, including:

·        equity-settled share-based payment transactions,

·        cash-settled share-based payment transactions, and

·        transactions in which the entity receives or acquires goods or services and the terms of the arrangement provide either the entity or the supplier of those goods or services with a choice of whether the entity settles the transaction in cash (or other assets) or by issuing equity instruments,

except as noted in paragraphs 3A–6. In the absence of specifically identifiable goods or services, other circumstances may indicate that goods or services have been (or will be) received, in which case this NFRS applies

2)     Non- Applicability

This NFRS does not apply to

a)     Transaction settled by another group entity.

b)     Transaction with employee of entity but in capacity of equity holder (Right Share, Bonus Share).

c)     If NFRS 3 Applies.

d)     Transaction in which the entity receives or acquire goods or services under contract within the scope of paragraph 8-10 of NAS 32: Financial Instrument: Presentation or paragraph 5-7 of NAS 39: Financial Instrument: Recognition and Measurement.

3)     Recognition

a)     An entity shall recognize the goods or services received or acquired in a share-based payment transaction when it obtains the goods or as the services are received. The entity shall recognise a corresponding increase in equity if the goods or services were received in an equity-settled share-based payment transaction or a liability if the goods or services were acquired in a cash-settled share-based payment transaction.

b)     When the goods or services received or acquired in a share-based payment transaction do not qualify for recognition as assets, they shall be recognised as expenses.

4)     Fair Value Measurement

a)     For equity-settled share-based payment transactions, the entity shall measure the goods or services received, and the corresponding increase in equity, directly, at the fair value of the goods or services received, unless that fair value cannot be estimated reliably. If the entity cannot estimate reliably the fair value of the goods or services received, the entity shall measure their value, and the corresponding increase in equity, indirectly, by reference to 15 the fair value of the equity instruments granted.

b)     The fair value of those equity instruments shall be measured at grant date.

5)     Vesting Period

                 i.          If the equity instruments granted do not vest until the counterparty completes a specified period of service, the entity shall presume that the services to be rendered by the counterparty as consideration for those equity instruments will be received in the future, during the vesting period. The entity shall account for those services as they are rendered by the counterparty during the vesting period, with a corresponding increase in equity. For example:

a)     if an employee is granted share options conditional upon completing three years' service, then the entity shall presume that the services to be rendered by the employee as consideration for the share options will be received in the future, over that three-year vesting period.

b)     if an employee is granted share options conditional upon the achievement of a performance condition and remaining in the entity's employ until that performance condition is satisfied, and the length of the vesting period varies depending on when that performance condition is satisfied, the entity shall presume that the services to be rendered by the employee as consideration for the share options will be received in the future, over the expected vesting period. The entity shall estimate the length of the expected vesting period at grant date, based on the most likely outcome of the performance condition. If the performance condition is a market condition, the estimate of the length of the expected vesting period shall be consistent with the assumptions used in estimating the fair value of the options granted, and shall not be subsequently revised. If the performance condition is not a market condition, the entity shall revise its estimate of the length of the vesting period, if necessary, if subsequent information indicates that the length of the vesting period differs from previous estimates.

                ii.          Having recognised the goods or services received, and a corresponding increase in equity, the entity shall make no subsequent adjustment to total equity after vesting date. For example, the entity shall not subsequently reverse the amount recognised for services received from an employee if the vested equity instruments are later forfeited or, in the case of share options, the options are not exercised. However, this requirement does not preclude the entity from recognising a transfer within equity, ie a transfer from one component of equity to another.

6)     Reload Feature

For options with a reload feature, the reload feature shall not be taken into account when estimating the fair value of options granted at the measurement date. Instead, a reload option shall be accounted for as a new option grant, if and when a reload option is subsequently granted.

7)     Share-based Payment Transactions

For cash-settled share-based payment transactions, the entity shall measure the goods or services acquired and the liability incurred at the fair value of the liability. Until the liability is settled, the entity shall remeasure the fair value of the liability at the end of each reporting period and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.

8)     Group Entities

a.      For share-based payment transactions among group entities, in its separate or individual financial statements, the entity receiving the goods or services shall measure the goods or services received as either an equity-settled or a cash-settled share-based payment transaction by assessing:

Ø  the nature of the awards granted, and

Ø  its own rights and obligations.

b.      The amount recognised by the entity receiving the goods or services may differ from the amount recognised by the consolidated group or by another group entity settling the share-based payment transaction.

c.      The entity receiving the goods or services shall measure the goods or services received as an equity-settled share-based payment transaction when:

Ø  the awards granted are its own equity instruments, or

Ø  the entity has no obligation to settle the share-based payment transaction.

The entity shall subsequently remeasure such an equity-settled share-based payment transaction only for changes in non-market vesting conditions. In all other circumstances, the entity receiving the goods or services shall measure the goods or services received as a cash-settled share-based payment transaction.

8)     The entity settling a share-based payment transaction when another entity in the group[G] receives the goods or services shall recognise the transaction as an equity-settled share-based payment transaction only if it is settled in the entity's own equity instruments. Otherwise, the transaction shall be recognised as a cash-settled share-based payment

9)     Some group transactions involve repayment arrangements that require one group entity to pay another group entity for the provision of the share-based payments to the suppliers of goods or services. In such cases, the entity that receives the goods or services shall account for the share-based payment transaction in accordance with paragraph 43B regardless of intragroup repayment arrangements.

10)  Disclosure

An entity shall disclose information that enables users of the financial statements to understand how the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period was determined.

Thank You

 

NFRS 1: First-time Implementation of NFRS

Nepal Financial Reporting Standard 1

First-time Implementation of NFRS

1)     Application of This NFRS

                 i.          This NFRS does not apply to changes in accounting policies made by an entity that already applies NFRSs. Such changes are the subject of:

1. a)     Requirements on changes in accounting policies in NAS 8 Accounting Policies, Changes in Accounting Estimates and Errors; and
2. b)     Specific transitional requirements in other NFRSs

                ii.          An entity shall prepare and present an opening NFRS statement of financial position at the date of transition to NFRSs. This is the starting point for its accounting in accordance with NFRSs.

2)     Accounting Policies

                           i.          An entity shall use the same accounting policies in its opening NFRS statement of financial position and throughout all periods presented in its first NFRS financial statements. Those accounting policies shall comply with each NFRS effective at the end of its first NFRS reporting period, except as specified in paragraphs 13–19 and Appendices B–E.

                          ii.          The accounting policies that an entity uses in its opening NFRS statement of financial position may differ from those that it used for the same date using its previous GAAP. The resulting adjustments arise from events and transactions before the date of transition to NFRSs. Therefore, an entity shall recognize those adjustments directly in retained earnings (or, if appropriate, another category of equity) at the date of transition to NFRSs.

3)     Accounting Estimates

An entity’s estimates in accordance with NFRSs at the date of transition to NFRSs shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

4)     Exemption

This NFRS does not provide exemptions from the presentation and disclosure requirements in other NFRSs.

5)     Compliance

                 i.          To comply with NAS 1, an entity’s first NFRS financial statements shall include at least three statements of financial position, two statements of comprehensive income, two separate income statements (if presented), two statements of cash flows and two statements of changes in equity and related notes, including comparative information.

                ii.          An entity shall explain how the transition from previous GAAP to NFRSs affected its reported financial position, financial performance and cash flows.

               iii.          To comply with paragraph 23, an entity’s first NFRS financial statements shall include:

1. a)     Reconciliations of its equity reported in accordance with previous GAAP to its equity in accordance with NFRSs for both of the following dates:
2. b)     The date of transition to NFRSs; and

The end of the latest period presented in the entity’s most recent annual financial statements in accordance with previous GAAP.

a.      Reconciliation to its total comprehensive income in accordance with NFRSs for the latest period in the entity’s most recent annual financial statements. The starting point for that reconciliation shall be total comprehensive income in accordance with previous GAAP for the same period or, if an entity did not report such a total, profit or loss under previous GAAP.

b.      If the entity recognized or reversed any impairment losses for the first time in preparing its opening NFRS statement of financial position, the disclosures that NAS 36 Impairment of Assets would have required if the entity had recognized those impairment losses or reversals in the period beginning with the date of transition to NFRSs.

6)     An entity is permitted to designate a previously recognised financial asset as a financial asset measured at fair value through profit or loss in accordance with paragraph D19A. The entity shall disclose the fair value of financial assets so designated at the date of designation and their classification and carrying amount in the previous financial statements.

7)     An entity is permitted to designate a previously recognised financial liability as a financial liability at fair value through profit or loss in accordance with paragraph D19. The entity shall disclose the fair value of financial liabilities so designated at the date of designation and their classification and carrying amount in the previous financial statements.

Thank You

NFRS

 Important for NRB❤️

Q.NFRS को परिचय दिदै यसका फाइदाहरु उल्लेख गर्नुहोस् र NFRS कार्यान्वयनमा भएका प्रमुख समस्याहरु उल्लेख गर्नुहोस्।(2+4+4)

उत्तर:-

1.नेपाल वित्तीय प्रतिवेदन लेखामान(Nepal Financial Reporting Standard-NFRS):-

>लेखा प्रतिवेदन विशेष गरि वित्तीय विवरण र सो सम्बन्धि विषयका आदर्श,मूल्य,मान्यता,सिद्धान्त,विधी,तरिका,प्रक्रिया तथा सोको मार्गदर्शनलाई नै वित्तीय प्रतिवेदन लेखामान भनिन्छ।

>नेपालमा पनि अन्तर्राष्ट्रिय वित्तीय प्रतिवेदन लेखामान(IFRS) अनुरुप मुलुकको आवश्यकता र परिस्थिति अनुकुल हुने गरि राष्ट्रिय  वित्तीय प्रतिवेदन लेखामान तयार गरि कार्यान्वयनमा ल्याइएको छ।उक्त लेखामानलाई नेपाल वित्तीय प्रतिवेदन लेखामान(NFRS) भनिन्छ।यस सम्बन्धि सामग्री प्रकाशन र व्याख्या गर्ने व्यवस्था नेपाल स्ट्यान्डर्ड चार्टर्ड एकाउन्टेन्टस ऐन,2053 मा गरिएको छ।

2.NFRS का फाइदाहरु देहायबमोजिम छन्:-

>सम्पत्ति र दायित्वको उचित प्रस्तुति 

>विश्वव्यापी बजारहरुमा राम्रो पहुँच र पूँजीको लागतमा कमि

>Cross Border Operation का लागि बढ्दो प्रोत्साहन 

>सुधारिएको गुणस्तर र जानकारीको एकरुपता 

>धेरै रिपोर्टिङबाट बच्न र वित्तीय कार्यको लागत घटाउन 

>NFRS को balance sheet आर्थिक मुल्यको नजिक हुन मद्दत 

>वित्त र लेखा को प्रमुख क्षेत्रहरू मा मानव पुजिको लागतमा कम गर्न 

>balance sheet को आकार बढ्ने 

>विश्वभरका बैंक तथा वित्तीय संस्थाहरु संग तुलनात्मक वित्तीय विवरणहरु प्राप्त गर्न आदि।

3.NFRS कार्यान्वयनमा भएका प्रमुख समस्याहरू देहायबमोजिम छन्:-

>मापदण्डका प्रावधानहरुमा नयाँ अवधारणा र जटिलता सम्बन्धि समस्या 

>बैंकहरु र NRB को तयारीको स्तरमा समस्या(न्यून स्तर)

>प्राविधिक रुपमा सक्षम जनशक्तिको उपलब्धता नहुनु 

>सूचना प्रविधि प्रणाली आवश्यक पुर्वाधार नहुनु 

>वित्तीय विवरण बुझ्ने सरोकारवाला/प्रयोगकर्ताको कमि 

>NFRS आवस्यकता संग कोर बैंकिङ प्रणालीको अनुकुलताको कमि 

>NFRS कार्यान्वयन पछि वित्तीय विवरणमा मुल्यांकन नहुनु 

>तालिम,ज्ञान हस्तान्तरण को कमि आदि।

4.निष्कर्ष:-

NFRS को प्रभावकारिता पुर्णरुपमा कार्यान्वयनमा आएको देखिदैन।यसका लागि NFRS का आधारभुत सिद्धान्तहरु प्रयोगमा ल्याई तुलनायोग्य,बुझ्न सकिने,भरपर्दो र सान्दर्भिक हिसाब किताबहरु राख्न लेखापालहरु सक्रिय हुनु पर्दछ। यसका लागि उचित तालिम र आवश्यक पुर्वाधारहरुको उपलब्धता आवश्यक देखिन्छ।

वित्तीय नीति ✅

 Fiscal Policy ✅

सरकारको राजश्व, खर्च र ऋणसँग सम्बन्धित नीतिलाई वित्त नीति भनिन्छ । वित्त नीति सरकारको बजेटको रुपमा सार्वजनिक गर्ने गरिन्छ । अर्को अर्थमा भन्दा अर्थतन्त्रको व्यवस्थापन गर्न सार्वजनिक खर्च व्यवस्थापन गर्ने, कर निर्धारण गर्ने तथा ऋणको व्यवस्थापन गर्ने नीतिलाई नै वित्तीय नीति भनिन्छ ।

वित्तीय नीतिलाई समग्रमा आर्थिक नीतिको महत्वपूर्ण खम्बाको रुपमा मानिन्छ। त्यसैले वित्तीय नीति मुलुककै अर्थतन्त्रलाई डो¥याउने नीति हो । त्यस्तै, मुलुकले निर्दिष्ट गरेको आर्थिक उद्देश्य हासिल गर्न सरकारद्वारा सार्वजनिक आय र व्ययतर्फ अपनाउने रणनीति र कार्यनीति नै वित्तीय नीति हो । यो नीतिले सार्वजनिक खर्च, सार्वजनिक राजश्व, सरकारी बजेट तथा सार्वजनिक ऋणलाई दिशानिर्देश समेत गर्ने गर्छ।

सरकारले प्रत्येक वर्ष जारी गर्ने बजेट मार्फत् वित्तीय नीतिको कार्यान्वयन हुने गर्छ । वित्तीय नीतिका उपकरणहरुमा बजेट, राजश्व परिचालन, खर्च व्यवस्थापन र सार्वजनिक ऋण बजेट,कर,खर्च र ऋण पर्दछन् । यिनै उपकरणहरुको प्रयोग गरेर सरकारले मुलुकको अर्थतन्त्रलाई कसरी अगाडि बढाउने भन्ने निर्क्यौल गर्छ ।

यस्ता छन् वित्तीय नीतिका उद्देश्यहरू : 

वित्तीय नीतिको उद्देश्यको कुरा गर्दा मुलुकको आर्थिक अवस्था तथा सरकारको भूमिका अनुसार फरक–फरक हुने गर्दछ । खास गरी वित्तीय नीतिले मुलुकको आर्थिक वृद्धिलाई कसरी वृद्धि गर्ने र त्यसलाई कसरी दिगो बनाइराख्ने भन्ने उदेश्य राखेको हुन्छ । त्यस्तै, यस नीतिले सार्वजनिक खर्च व्यवस्थापन गर्ने,सार्वजनिक ऋण व्यवस्थापन गर्ने लगायतका उदेश्य राखेको हुन्छ । समग्रमा वित्तीय नीतिका उदेश्यहरुलाई निम्न अनुसार प्रस्तुत गर्न सकिन्छ ।

आर्थिक वृद्धिलाई उच्च र दिगो पार्नु

समष्टिगत रुपमा आर्थिक स्थायित्व तथा स्थिरता कायम गर्नु

सामाजिक न्यायको स्थिति कायम गर्नु 

सार्वजनिक खर्च व्यवस्थापन गर्ने 

सार्वजनिक ऋण व्यवस्थापन गर्ने 

बेरोजगारी र गरिबी समस्या समाधान गर्ने 

आय तथा सम्पत्तिको वितरण गर्ने 

बचतमा वृद्धि र पुँजी निर्माण गर्ने 

मुद्रास्फीतिको समस्या समाधान गर्ने 

मूल्य नियन्त्रण गर्ने 

कर प्रणालीमा सुधार गर्ने 

उच्च प्रतिफलयुक्त क्षेत्रमा लगानी केन्द्रित गर्ने