IAS 8

/IAS 8

Change in accounting policy

IAS 8 provides for chnages in accounting policies. Do you know of any companies that have changed their accounting policy from Market to historical costs for PPE

By |August 7th, 2010|IAS 8|3 Comments

Revision of Software useful file

What could be evidence for justifying software life revision from 5 years to 3 years. So that prospective application of change.

By |June 9th, 2010|IAS 16, IAS 8|1 Comment

Change in life of computer software IAS 16, IAS 8

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 [...]

By |May 5th, 2010|IAS 16, IAS 8|8 Comments

Reversal of a previuos inventory writedown

Dear All Kindly feed me back regarding the reversal of any previuos writedown that had been made in a previuos period. Is it possible to reverse a wirte down for inventory made in 2007 to be reversed in 2008 Noting that I couldn’t reach any speci...

By |December 14th, 2008|AUDIT, IAS 2, IAS 8, IFRS, TAX|0 Comments