Adil, question for you – do you currently have an audit report in accordance with IFRS, or is this a first time adoption of IFRS?
GordHi all,
I have to update our Group accounting manual. The latest update was done in November 2006.My goal is to make sure that our group accounting policies are conducted in respect of IFRS.I have to update our policies and to implement new policies in accordance to the new rules implemented since then.Can you lease advice on the best way to tackle this task? I will be very thankful for any guidance, templates, links or suggestions.Best regards
IFRS Training and Courses
i am using the perpetual inventory system in my company for the accounting for the inventory and i have a problem regarding the appropriate bookkeeping records regarding the Consignment goods.
help me plz what is the IFRS No. which will let me follow the correct accounting treatment for the Consignmet goods.
N.B:-
i am the consignee in this case i took the goods from the consignor in order to sell them through my Retails Shops i have about 22 retail shops.
My question is when i receive the goods i will issue the addition note for the goods received from the consignor.these goods actually has a value (may be i do not know its market value) but for me represents no cost unless i sell them. and i am using the perpetual inventory system in this case the COGS will appear with no value unless i receive the purchase cost later on.
is this a liability for my company ???????????????????? up to the selling date as long as i have the goods in my stock and it will be counted at the end of the period..
????????????????????????????
I got confused really i need to read the IFRS which will treat with this accounting issue.
thanks & Best Regards,
Tamer Mohareb
Thank you &best regards,
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