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What is PERSONALITY?

Personality:

Personality is a concept that we use continuously in our day-to-day routine when dealing with people. We talk about people as having a good personality or a bad personality or arrogant and aggressive personality. 

 According to -

Salvatore Maddi “personality is a stable set of characteristics and tendencies that determine those commonalties and differences in the psychological behavior (thought, feeling and actions) of people that have continuity in time and that may not be easily understood as the sole result of the social and biological pressures of the moment.”

S.P.ROBBINS  “personality is the sum total of way in which an individual reacts and interacts with others”

KREITNER “personality is defined as the combination of stable physical and mental characteristics that given the individual his or her identity”

ATKINSON “personality refers to the characteristic patterns of behavior and way of thinking that determine a person’s adjustments to his environment”

LUTHANS “personality means how people affect others and how they understand and view themselves”

Above definition summarized following features

• Identifies stable,physical and mental characteristics.
• Values and interest
• Individual identity
•  Identify whole interaction

Definition of Terms as per IFRS 1(Appendix A)

This appendix is an integral part of IFRS. 

Date of transition to IFRS 

The year starts oldest for which the entity presenting format complete comparative IFRS within its financial statements presented in accordance with IFRS. 

Cost attributed 

An amount is used as a substitute for the cost or the depreciated cost at the date determined. In the subsequent depreciation or amortization the entity use the initially recognized asset or liability at certain date, and that this cost was equivalent to the cost attributed. 

Fair value 

The amount by which an asset could be exchanged or cancelled a liability among stakeholders and duly informed in a transaction realizable arm's length. 

First financial statements in accordance with the IFRS 

The first annual financial statements in which an entity adopts International Financial Reporting (IFRS), through declaration, explicit and unreserved compliance with IFRS. 

Entity adopts IFRS for the first time (or first-time adopter) 

The entity that presents its first financial statements in accordance with lFRS. 

International Financial Reporting Standards (IFRS)

Rules and Interpretations adopted by the Council of International Accounting Standards (IASB). These standards include: 

(a) International Financial Reporting Standards; 

(b) International Accounting Standards; 

(c) Interpretations, whether caused by the Committee on International Standards Interpretations of Information Financier (IFRIC), or the old Interpretations (SIC). 

Balance opening IFRS 

The stock of the entity (published or not) on the date of transition to IFRS. 

Previous GAAP

 By: http://www.WorldGAAPInfo.com

The basis of accounting that the entity to take last for the first time, used immediately before applying IFRS. 

Date 

Presentation 

First reporting period under IFRS 

The end of last year covered by financial statements or by an interim financial report. The reporting period ending on the date of submission of first financial statements as per IFRS.