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Ready for IFRS: START-UP Costs, how to record them ?

http://faainc.blogspot.com/2014/07/start-up-costs-how-to-record-them.html

About IFRS for SMEs. Thursday, July 17, 2014. START-UP Costs, how to record them? To record Start-Up Costs arising from a new operation activities? Should this type of cost be treated as Intangible Assets based on IAS 38? Referring to IAS 38, the standard requires an entity to recognize an Intangible Asset, whether purchased or self-created (at cost), if, and only if :. It is probable that the expected future economic benefits that are attributable to the asset will flow to the entity; and. Further, para...

faainc.blogspot.com

Ready for IFRS: About IFRS for SMEs

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About IFRS for SMEs. About IFRS for SMEs. On 9 July 2009, the IASB issued an IFRS designed for use by small and medium-sized entities (SMEs). The IFRS for SMEs is a self-contained standard of about 230 pages tailored for the needs and capabilities of smaller businesses, which are estimated to account for over 95% of all companies around the world. In particular, the IFRS for SMEs will :. A) provide improved comparability for users of accounts. B) enhance the overall confidence in the accounts of SMEs, and.

faainc.blogspot.com

Ready for IFRS: Determining whether an ENTITY is an INVESTMENT ENTITY (exception to Consolidation)

http://faainc.blogspot.com/2015/08/determining-whether-entity-is.html

About IFRS for SMEs. Friday, August 7, 2015. Determining whether an ENTITY is an INVESTMENT ENTITY (exception to Consolidation). 31 October 2012, the IASB published. Amendments to IFRS 10, IFRS 12 and IAS 27),. Providing an exception to the consolidation requirements in IFRS 10 for INVESTMENT ENTITIES. Disclosure of Interests in Other Entities. Para27 of the amendments states that :. A parent shall determine whether it is an INVESTMENT ENTITY. An investment entity is an entity that :. Obtains funds from ...

faainc.blogspot.com

Ready for IFRS: Changes in Estimated Useful Life of Property, Plant and Equipment, how to handle it ?

http://faainc.blogspot.com/2008/08/changes-in-estimated-useful-life-of.html

About IFRS for SMEs. Tuesday, August 19, 2008. Changes in Estimated Useful Life of Property, Plant and Equipment, how to handle it? In accordance with one of the more important of the basic accounting conventions, the matching principle, the cost of property, plant and equipment are allocated through depreciation to the periods that will have benefited from the use of the assets. Wiley – IFRS 2008 Bound Volume, Interpretation and Application. Par 51 stated that the residual value and the useful life of a...

faainc.blogspot.com

Ready for IFRS: The Components of Cash and Cash Equivalents (IAS 7)

http://faainc.blogspot.com/2010/04/components-of-cash-and-cash-equivalents.html

About IFRS for SMEs. Thursday, April 1, 2010. The Components of Cash and Cash Equivalents (IAS 7). Cash and cash equivalents include unrestricted cash (meaning cash actually on hand, or bank balances whose immediate use is determined by the management), other demand deposits, and short-term investments whose maturities at the date of acquisition by the enterprise were 3 (three) months or less. The bank overdraft is repayable on demand, and. Statutory (or reserve) deposits by banks (i.e., those he...Label...

faainc.blogspot.com

Ready for IFRS: Disclaimer

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About IFRS for SMEs. This blog is my personal blog. All the content of this blog, what I'm saying and writing in here should be treated as my personal action and do not represent any opinion of the firm where I work. Subscribe to: Posts (Atom). START-UP Costs, how to record them? Methods of adjusting ACCUMULATED DEPRECIATION at the date of REVALUATION. IAS 2 Inventories, How and When to Determine the Ownership of Goods. Computer Software Cost, Capitalized or Expensed? Asset Held for Sale.

faainc.blogspot.com

Ready for IFRS: About IFRS

http://faainc.blogspot.com/p/about-ifrs.html

About IFRS for SMEs. International Financial Reporting Standards (IFRSs) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements. IFRSs as the global accounting standard is referred to as principle-based standards, developing based on sound, clearly stated principles from which interpretation is necessary. This contrasts with sets of standards, like U.S genera...The e...

hardi-teh.blogspot.com

Auditing for Auditors: WHY We Need to Know the Client's Business ?

http://hardi-teh.blogspot.com/2010/07/why-we-need-to-know-client-business.html

Saturday, July 10, 2010. WHY We Need to Know the Clients Business? Obtaining an understanding of the client’s business is key to an effective and efficient audit. It enables us not only to tailor our work to meet the individual facts and circumstances of each client, but also to carry out that work and to evaluate our findings in an informed manner. Our knowledge of the client’s business also helps us to develop and maintain a positive professional relationship with the client. Detailed information is re...

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Audit-me Weblog: Apa saja risiko yang dihadapi auditor dalam pelaksanaan audit atas laporan keuangan ?

http://auditme-post.blogspot.com/2010/08/apa-saja-risiko-yang-dihadapi-auditor.html

Thursday, August 26, 2010. Apa saja risiko yang dihadapi auditor dalam pelaksanaan audit atas laporan keuangan? Dalam suatu penugasan audit, auditor selalu dihadapkan dengan yang namanya risiko audit. Walaupun suatu laporan keuangan yang disusun oleh perusahaan tidak diaudit, selalu ada risiko yang melekat dalam laporan keuangan tersebut. SPAP SA Seksi 312 mengharuskan auditor untuk selalu merencanakan auditnya sedemikian rupa, sehingga risiko audit dapat dibatasi pada tingkat yang rendah, yang menurut p...