Articles tagged with: IAS 36
OTHER IFRS »
Question for anyone that has dealt with this issue:
As at its transition date, a company will need to review its assets (CGUs) for indicators of impairment. Some of the indicators suggested in IAS 36 refer to “the period”. Some indicators are current – as of that date.
I have assumed that “the period” refers to the previous annual period. This assumption is based on” (a) the fact that for a regular year, the period would refer to the previous annual period, and (b) IFRS 1 indicates that the same estimates used …
OTHER IFRS »
Some countries accounting standards say goodwill can be amortized or impaired. Some countries will say goodwill can only be impaired. Where can I get all this information and notes regarding.
Thanks in advance.
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Can someone tell me how do you define normal capacity of IAS 2?
In IAS 2, it said that normal capacity is the production expected to
be achieved on average over a number of periods or seasons under
I am wondering how to caculate the normail capacity?
ex: one machine can produce 10 finish good in 8 hours, then, the
factory works 8 hours per days and five days per week, so the normal
capacity will be
10 *8*4=320 ?
or the enterprise estimate that they can sell 250 finish goods per
months in normal circumstances. so, …
dear sir or mam
When one company adopt the IFRSs 1 first time then what are the irems exempted from national GAAP in the case of convergance to IFRSs.
pls read ifrs 1 and see the exemption given for the same
there are 10 exemptions
We have a projector & purchased 6 years back @ 17000/- we have depreciated 8000/- as of now and the NBV is 9000/-. Now the market value is 5000/-. Do we need any accouning treatment as per IFRS.
IAS 16, Property, Plant and Equipment (PPE), allows a choice …
OTHER IFRS »
Is it possible to reclassify asset held for sale back to PPE?
the guidances in this case are explianed in IFRS5.26 to IFRS5.29
Dear DivineIt is possible to reclassify an asset held for sale back to PPE if the criteria for classification are no longer met or if there is a change in plan for sale. The asset would need to be remeasured. Please refer to paragraphs 26 to 29 and 42 of IFRS 5 for more details on measurement and disclosure.
yes it is possible but in that case …
Does anyone know where the best place to find
information on capitalizing internal software
development under IFRS? Any links? Which IAS/IFRS
standard is this covered under?
Thanks in advance for the help!
You raise an interest topic David, I would like to see the view of others
In the meantime page 56 of the differences between IFRS and US GAAP might help you as in the latter some software deveopment costs can be capitalised which would imply that under IFRS they are not but let us see what the others say
I am sending this to you …
Thanks for the information.
I would like to know, if we use cost model than also are we require to do the revaluation.
Investment property is defined as property held (by the owner or lessee under a finance lease) to rentals and/or for capital appreciation, rather than for
-use in the production or supply of goods and services for administrative purposes; or
-sale in the ordinary course of business
IAS 40 covers investment property held by all enterprises and is not limited to enterprises whose main activies are in this area. Under IAS …