Progress:
Date 4/3 5/3 6/3 7/3 8/3 9/3 10/3 11/3 12/3
Progress 65 65 65 65 65 70 70 70 75
IFRS 18
As per IFRS 18 Asset are divided into Current and Non-Current Asset.
As per IFRS 18 Liability are divided into Current and Non-Current Liability .
As per IFRS 18 total/subtotal required to be presented by IFRS 18 Presentation
and Disclosure in SOPL are Operating Profit, Profit and profit before finance and
income tax
IAS 16 Property, Plant and Equipment (PPE)
IAS 16 Property, Plant and Equipment prescribe the accounting treatment for tangible non-current
assets. This standard outlines the initial measurement of assets, the determination of their carrying
amount, the depreciation charge, and any impairment losses to be recognized.
The principal issues prescribed in the standard are:
The initial recognition of assets at acquisition
The determination of an asset’s carrying amount
The depreciation charges of assets
Any impairment losses to be recognized
IAS 38 Intangible asset
IAS 38 is for intangible asset and the cost that should be capalised (cost added to asse). Intangible
asset is amortisation (depreciation) mostly on straight line basis and also if the useful life is not
known. Also, amortisation is charged when the product is ready to use or sell. Under IAS 38 cost of
asset if purchased is the purchasing cost and if internally made then there will be 2 cost that are
below.
1.Research cost = it is always treated as expense:
2. Development cost = it can be capalized or not depending whether it fulfil the following point
Technical feasibility of completing the development of the intangible asset
Intention to complete the development of the intangible asset
Ability to use or sell the intangible asset
The intangible asset will generate future economic benefits
Sufficient resources exist to complete the intangible asse
Cost can be measured Reliably
IAS 37 Provision, Contingent asset, contingent Liability
Date 4/3 5/3 6/3 7/3 8/3 9/3 10/3 11/3 12/3
Progress 65 65 65 65 65 70 70 70 75
IFRS 18
As per IFRS 18 Asset are divided into Current and Non-Current Asset.
As per IFRS 18 Liability are divided into Current and Non-Current Liability .
As per IFRS 18 total/subtotal required to be presented by IFRS 18 Presentation
and Disclosure in SOPL are Operating Profit, Profit and profit before finance and
income tax
IAS 16 Property, Plant and Equipment (PPE)
IAS 16 Property, Plant and Equipment prescribe the accounting treatment for tangible non-current
assets. This standard outlines the initial measurement of assets, the determination of their carrying
amount, the depreciation charge, and any impairment losses to be recognized.
The principal issues prescribed in the standard are:
The initial recognition of assets at acquisition
The determination of an asset’s carrying amount
The depreciation charges of assets
Any impairment losses to be recognized
IAS 38 Intangible asset
IAS 38 is for intangible asset and the cost that should be capalised (cost added to asse). Intangible
asset is amortisation (depreciation) mostly on straight line basis and also if the useful life is not
known. Also, amortisation is charged when the product is ready to use or sell. Under IAS 38 cost of
asset if purchased is the purchasing cost and if internally made then there will be 2 cost that are
below.
1.Research cost = it is always treated as expense:
2. Development cost = it can be capalized or not depending whether it fulfil the following point
Technical feasibility of completing the development of the intangible asset
Intention to complete the development of the intangible asset
Ability to use or sell the intangible asset
The intangible asset will generate future economic benefits
Sufficient resources exist to complete the intangible asse
Cost can be measured Reliably
IAS 37 Provision, Contingent asset, contingent Liability
