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

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Dear all
Seasons greetings!!
We have purchased a fixed asset with value of USD 100,00/- specifically at the request of our client. We had the same equipment, but the client need two instead of one and the client agreed to reimburse the cost of additional one, once we install the same on site.
I just want to know whether I can capitalise the equipment as fixed asset in my books of account and claim depreciation on the asset.
The asset will be in our name and we are the owners of the asset. …

Dear Experts,
If an asset is purchased from a supplier for which payment is to be made in 3 years on monthly instalments including cost + finance chg. Can we show assets and Capex loan in B/S and depreciation on assets can be charged.
Hemant

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Can any one help me for calculation of deferred tax under deductable timing diference
Example: writeen down value of fixed assets as pert accounts-200
         writeen down value as per tax                      150
please privide the soluision by giving effects in the profit and loos accounts and balance sheet. The company going to introduce deferred tax in first time

Hi,
 
Here is the solution::
U need to calculate PGBP in following manner taking into consideration timing differences :
 
PBT as per P & L a/c …

Hello,
 

If a company asks a third party to construct a fixed asset and at the end of the year, the fixed asset is not complete, but you have a statement of the costs incurred, would you capitalize the costs incurred under Construction in Progress with counterpart in accruals. Or would you record an entry only when it has been delivered to the company?
 
What IFRS would be applicable?
 
Thanks,
Isabelle

IFRS 16 would be applicable “Plant , Property and Equipemnt”
 
Recognisation -
Items of property, plant, and equipment should be recognised as assets when it is probable …

IF a company was operating under the name A with shareholders X and Y, in 2008 the shareholders sold 40% of the company to Mr, Z and they changed the name of the company to be B the company is Printing press so has significant Fixed assets Value.
As per IFRS , it is acceptable that the new company B , Book on the new TB the value of Fixed assets Cost , as the net book value on the acquisition date , IF the machines were not evaluates by …

Dear All 
 
According to IAS 16, in an exchange transaction asset should be recorded at fair value.
 
My question is which assets fair value?
 
Asset given up     or
Asset acquired 
 
considering that we have the fair value of both.
 
 
Regards
 

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Sirs/Madam,
I would like to know weather or not it is permissible to issue bounce shares against reserve created out of revaluation of fixed assets, with references. If not, can the revaluation reserves be used for any purpose before the sale/ de-recognition of the fixed asset

 
No, the revaluation reserve is restricted to use for revaluation increases and decreases only, see IAS 16 PPE sub 39 – 41, only when assets are sold, the whole surplus will be realized in the income statement or when depreciated, that part may be released to …

Hi,
I have just recently starting working in a country that is about to adopt IFRS (2009) and was wondering if anyone had had experience with possible violations to debt covenants during the transition period. I am guessing that clients will have to communicate with their banks about the impact IFRS will have on their outstanding debt and request a document stating that the banks will request the payment on demand in the case of a violation.
I am not sure if clients have realized this potential impact of going to IFRS, but …