IAS 40

/Tag:IAS 40

Free hold land

Dear Members Please advice me on the following issue If the comany has a barren free hold land but intends to construct it in the near future and use for leasing it to get the rental income. please suggest should i treat this barren land as of now under IAS 16 or under IAS 40. Please advice. Best regards […]

By |August 28th, 2008|OTHER IFRS|0 Comments

Suggestions required . . . .

Dear Fellow Members I need your suggestions & explanations on below stated matter. If possible, please suggest with references of IAS. An office is located in a bungalow, which is acquired on rent; the rent is paid in advance for a period of 1 year & the agreement is revised at the end of the term. [...]

By |August 28th, 2008|IFRS|0 Comments

IAS 16/40 on date of transition

On the date of transition, a company could choose, as it´s deemed cost, historical cost if the previous gaap is not significantly different than IFRS or fair value for PPE, Intangibles and Investment property. I am not sure if I have it clear but under IAS 16, one can choose the deemed cost on a per-item [...]

By |August 28th, 2008|IFRS|0 Comments

Revaluation of investment property

Hi,   Thanks for the information.   I would like to know, if we use cost model than also are we require to do the revaluation.   best regards Suraj Hi Suraj,  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 [...]

By |August 28th, 2008|IFRS|0 Comments

Allowance for settlement discount.

Hi all For those companies who offer settlement discount, should we have an account to record the probable allowance for settlement discount or we should net it off against the revenue? Thank you in advance. Regards, Nyasha Marauka […]

By |August 28th, 2008|IFRS|0 Comments