Hello everyone! Can somebody help me? Which public companies provide their reports both in accordance with IFRS and GAAP ? Thank you beforehand for help!
Hi I have a quick question to ask on the title. If a lease is signed for a piece of land say for 50 years and construction work to build a factory is ongoing at the balance sheet date and not expected to be completed for the next 2 years, does amortiz...
List of useful info, resources and documents available on other websites about IAS 16 – Property, Plant and Equipment. Summary of IAS 16 – IASPlus Full Text of the IAS 16 as at 31 December 2010 provided by IASB (You need to register) … Con...
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As per IAS 16 PPE is in location and conditions necessary for it to be capable of operating in the manner intended by management, which will usually be the date of practical completion of the physical asset, cost recognition ceases. My questions are If building construction is completed but electricity is not started yet should building be capitalized.
IF INCOME APPROACH IS CONSIDERED IN PREVIOUS YEARS FOR COMPLATED PROPERTIES AND NOW DURING REVALUATION A NEWLY CONSTRUCTED PROPERTY IS INCLUDED THEN HOW INCOME APPROACH WOULD BE APPLIED FOR NEWLY CONSUTRCUTED WHICH IS NOT YET LEASED. Can cost approach ...
Tools ‹ IFRS LIST.COM – The online community about IAS IFRS, Accounting and Auditing — WordPress. Related posts:IFRS: a help or a headache? Apply for MSc in Accounting and Control in Amsterdam Request for auditing standard Assistance for Audit...
What could be evidence for justifying software life revision from 5 years to 3 years. So that prospective application of change.
Hi to everybody. My question is that: the initial costs to acquire an asset like; the negotiation and traveling expenses incurred by management to acquire an asset, what about such costs of that assets; in case before finalizing of the deal; a. it is certain that the asset would be acquired. b. its is not [...]
Hi sir. My question is that the costs of negotiation and traveling for acquiring an assets by management, what about the costs whether it should be capitalized or expensed in case; a. it is certain from the very day that the assets would be acquired. b. it is uncertain that the asset would be acquired [...]
Dear Experts, If useful life of computer software is revised from 5 years to 2 years, this would be a change in estimate as per IAS-8 and change will be prospectively. However, in practical example Cost $ 50000 as on 31-12-09 Accumulated Depreciation $ 30000 as on 31-12-09 NBV 20000 as on 31-12-09 If life [...]
How would you treat a fixed asset in the situation below? The energy supplier operates a piece of equipment rented from the government for a defined period of time. In the end of the period the company should transfer the asset back to the government. The energy supplier makes an agreement with the government, according [...]
Hello everyone, can somebody give me names of some mining companies who has got huge gains when they opted for this exemption of deemed cost for thier mines
The Excavation cost to fix a tank underground is a part of tank cost. Likewise the motors/valves needed to install a tank and a loading rack for filling the tank - should be also a part of the tank cost. However, considering their significant $ value one should componentized the assets into Motors, Loading rack [...]
How will you report the ppe in the consolidated balance sheet if some of the units use historical cost and some the market valuation? If there is no historical cost data available, could you use the market value? thnak you
Hello, How much can be the maximum life given to Improvements for owned property as per IAS 16. If the life of the property - building can be 40 years, Can we give the same life to Improvments done to the buidlings? Thanks a lot. Saj House
Hello to all IFRS expert, Our company elects to use fair value at the date of transition as the deemed cost $100 of an item of property, plant and equipment. How we can account the difference $5 of the carrying amount $95 of the asset at that date with its deemed cost $100? Is it [...]
Company A Parent company Own land and lease out to a company B a subsidiary. Company A will construct hotel for B. Construction cost will be debited to fixed assets. Company B has entered into an agreement with Company C for hotel operation. Land leased will be an operating lease for both A and B Hotel [...]
Dear all If the life of an Asset is revised. Should we give effect retrospectively or prospectively. Please give refernce from IFRS/IAS. and is it mandotary to revise the whole class of assets life. e.g if one truck is working in desert /rough areas an...
Information for those who have not registered at iasb.org Live web presentation introducing the exposure draft on Derecognition ? 27 May 2009 In March 2009 the IASB published an exposure draft on Derecognition. The exposure draft is open for public comment until 31 July 2009. Stephen Cooper, Member of the IASB and Michael Mueller, Practice Fellow, will [...]