Exchange rate gains or losses on non-monetary items are recognized consistently with the recognition of gains or losses on an item itself.For example, when an item is revalued with the changes recognized in other comprehensive income, then also exchange rate component of that gain or loss is r...
In measuring deferred tax assets / liabilities you need to applythe tax ratesthat are expected to apply to the period when the asset is realized or the liability is settled. However, these expected rates need to be based on tax rates or tax laws that have been enacted or substantively enact...
9. The costs of purchase may include foreign exchange differences which arise directly on the recent acquisition of inventories invoiced in a foreign currency in the rare circumstances permitted in the allowed alternative treatment in IAS 21, The Effects of Changes in Foreign Exchange Rates. These ...
The practice of writing inventories down below cost to net realizable value is consistent with the view that assets should not be carried in excess of amounts expected to be realized from their sale or use. 26. Inventories are usually written down to net realizable value on an item by item...
The reason is that the supplier (warehouse owner) can exchange one place for another and you lease only certain capacity. Therefore, you would account for rental payments as for expenses in profit or loss. The second contractdoes contain a lease, because an underlying asset can be identified–...
This is a contractual arrangement to deliver financial assets, or to exchange a financial instrument on unfavorable terms. Equity From the framework document and IAS 32 this is defined as the residue of assets less liabilities. It would therefore include: Share capital and premium Retained earnings...
economicbenefitswillberealized,and 2.Thecostoftheassetcanbereliably measured Measuredinitiallyatcost 8 IAS38–AcquiredIntangible Assets 9 IAS38–AcquiredIntangible Assets Acquiredseparately: Costincludespurchaseprice,duties,non- refundabletaxes,netofdiscountsand ...
Finance income and expenses (RR million) Year ended 31 December, 2008 2007 Exchange gains Exchange losses Net exchange (loss) gain Interest income Interest expense Gains on and extinguishment of restructured liabilities Net finance income (expense) 118,746 (281,269) (162,523) 46,822 (59,910)...
In the fourth quarter of 2014 and twelve months ended 31 December 2014 the Group recorded foreign exchange gains in respective amounts of RR 14,320 million and RR 14,876 million, compared to a foreign exchange gain of RR 1,359 million and a foreign exchange loss of RR 438 in the third...
Profit before tax was negatively impacted by the lower foreign exchange gain in 1Q12 compared to 1Q11, lower net gain realized in 1Q12 from investments in associated entities, mainly related to our investment in Euroset and fair value changes of embedded derivatives. In 1Q11 the foreign ...