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
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.
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 [...]
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...