1.8IAS 23 Borrowing costs IAS23 looks at the treatment of borrowing costs, particularly where the related borrowings are applied to the construction of certain assets. These are what are usually called “self –constructed assets”, where an entity builds its own inventory or non-current assets ...
IAS 38 – Intangible assetsDefinition An intangible asset is an identifiable non-monetary asset without physical substance.An asset is identifiable if it either -Is separable, ie is capable of being separated or divided from the entity and sold, transferred, licensed, rented or exchanged, either ...
assets carried at revalued amounts under IAS 16 and IAS 38 Key definitions [IAS 36.6] Impairment loss: the amount by which the carrying amount of an asset or cash-generating unit exceeds its recoverable amount Carrying amount: the amount at which an asset is recognised in the balance sheet ...
under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. IAS 38 was subsequently amended by the following IFRSs: • IAS 8Accounting Policies, Changes in Accounting Estimates and Errors (issued December 2003) • IAS 16Property, Plant and Equipment ...
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Costs falling under the scope of another standard (eg plant and equipment purchased and used for the purposes of a contract – IAS 16) may be examined and should be accounted for under the relevant standard (ie capitalise and depreciate the asset used for the ...
For an acquired intangible assets (a license to IP) is it possible to recognize this as assets under construction if we receive the IP information over time – and it will not function to its purpose until we have received all of the information. ...
To the extent the Commissioner of Taxation considers that any supply made by a party under this agreement constitutes a supply made for consideration, the parties agree that supply of all things that are necessary for the operation of the School Operation under this agreement including theSchool A...
In determining whether an asset that incorporates both intangible and tangible elements should be treated under IAS 16 Property, Plant and Equipment or as an intangible asset under this Standard, an entity uses judgement to assess which element is more significant. For example, computer software for...
The cost of borrowing associated with a specific asset may be unclear.Borrowing costs The Nature of Assets under Review The IAS 23 talks about qualifying assets, whic 6、h take a substantial time to prepare for their intended use or for sale. They include: Construction work-in- process ...