Accounting
Notes
·
, finance cost
Asset just takes substantial periods of time to
get ready for use/sale (takes > 12m . o
Stop capitalising when substantially
AsI likes
that support the main purpose of the asset but isn't the
primary reason for holding the asset
↳
·thewise transaction costs
(basically willy nilly staff
ognition Subsequent measurement
o : · :
transaction
↳ Probable benefits associated to the investment will flow to the ↳ fair value
fair value is the
model-between maket
price that we'd
get for
selling on asset or
transfering liability in an
orderly
economic properly entity poticipants at measurement date
ecognised
↳
in fair values the fair value
gain/loss which PIL
any difference
) in is in
↳a
be measured of the investment year a
reliably
are
cost can
property
↳ dont ↳ Cost model model
regular repairs and maintenance of I are expensed in PIL as
they increase expected benefits -
This is the same as IAS16 use all those rules (but we prefer to choose fair value
↳ replacement of of IP
increasing expected economic benefits of finance lease/
parts are IP ↳ But we
derecognise when :
disposing asset/entering a
property permanently withdrawn from use
↳ Proceeds amount Probit/Loss (in
carrying Sci
-
=
·
Deterred payment :
deterred normal credit limits then PPE is measured at cash difference between total deterred equivalent interest
↳ when
payment beyond price equivalent and the
remaining payment and cash is .
↳ So
payment cmont loan amount interest and
get
to do this number of
the
way find the deferred or ; then get your companding ;
rate then
years.
↳ interest rate and then find Pu
finally EU loan amount n
years i
= = =
; ;
non-monetary
·
Exchange of items : Cow chalt
YES
asset received be determined ? F Does the transaction have commercial substance ? "E D
Measure asset at fair value
↳ can fair value of asset
given up or
reliably
-
=
T
F
measure this asset at
carrying amont of asset given up 7
,Transferring from IP to PPE :
Transferning from PPE to IP :
You in fact if there iso n actual of use in the asset
IP to PPG but only change Difference between Carrying Ament and before
·
fair Valle
can
change the immediately change revaluation per FAS I
·
is a as
and it switches from owner-occupied to investment
property ·
Or if both are at cost model then my PPE CA is
my IP cost price
the fair value of the
IP a fair value to PPG
Inventory the cost of the
PPE/inventory will
·
transferring be remember
change in use is not
change in
accounting policy
or :
a a
date of transfer
property on
// then
↳ do fair value adjustment at date of transfer process journal to change transfers
·
If they say reference IFRS then exclude conceptual framework
The Conceptual Framework is not
any standard
Standard and
nothing conceptual framework overrides
·
a in
↳o
include if don't whet to IFRS Standards
they say .
Correcting to and make the disappear
·
journals are
adjust error
, CA of asset and provision
Ly chanage
calculate
change in interest knew interest us old interest)
calculate cont
change in
calculate change in
years
Initial estimate : R100, 000 N : 10 1 : 10
YYYYYY Year 2 : R200000
1
, N 15
:
, :#
Chan dota s (Beg)
Notes
·
, finance cost
Asset just takes substantial periods of time to
get ready for use/sale (takes > 12m . o
Stop capitalising when substantially
AsI likes
that support the main purpose of the asset but isn't the
primary reason for holding the asset
↳
·thewise transaction costs
(basically willy nilly staff
ognition Subsequent measurement
o : · :
transaction
↳ Probable benefits associated to the investment will flow to the ↳ fair value
fair value is the
model-between maket
price that we'd
get for
selling on asset or
transfering liability in an
orderly
economic properly entity poticipants at measurement date
ecognised
↳
in fair values the fair value
gain/loss which PIL
any difference
) in is in
↳a
be measured of the investment year a
reliably
are
cost can
property
↳ dont ↳ Cost model model
regular repairs and maintenance of I are expensed in PIL as
they increase expected benefits -
This is the same as IAS16 use all those rules (but we prefer to choose fair value
↳ replacement of of IP
increasing expected economic benefits of finance lease/
parts are IP ↳ But we
derecognise when :
disposing asset/entering a
property permanently withdrawn from use
↳ Proceeds amount Probit/Loss (in
carrying Sci
-
=
·
Deterred payment :
deterred normal credit limits then PPE is measured at cash difference between total deterred equivalent interest
↳ when
payment beyond price equivalent and the
remaining payment and cash is .
↳ So
payment cmont loan amount interest and
get
to do this number of
the
way find the deferred or ; then get your companding ;
rate then
years.
↳ interest rate and then find Pu
finally EU loan amount n
years i
= = =
; ;
non-monetary
·
Exchange of items : Cow chalt
YES
asset received be determined ? F Does the transaction have commercial substance ? "E D
Measure asset at fair value
↳ can fair value of asset
given up or
reliably
-
=
T
F
measure this asset at
carrying amont of asset given up 7
,Transferring from IP to PPE :
Transferning from PPE to IP :
You in fact if there iso n actual of use in the asset
IP to PPG but only change Difference between Carrying Ament and before
·
fair Valle
can
change the immediately change revaluation per FAS I
·
is a as
and it switches from owner-occupied to investment
property ·
Or if both are at cost model then my PPE CA is
my IP cost price
the fair value of the
IP a fair value to PPG
Inventory the cost of the
PPE/inventory will
·
transferring be remember
change in use is not
change in
accounting policy
or :
a a
date of transfer
property on
// then
↳ do fair value adjustment at date of transfer process journal to change transfers
·
If they say reference IFRS then exclude conceptual framework
The Conceptual Framework is not
any standard
Standard and
nothing conceptual framework overrides
·
a in
↳o
include if don't whet to IFRS Standards
they say .
Correcting to and make the disappear
·
journals are
adjust error
, CA of asset and provision
Ly chanage
calculate
change in interest knew interest us old interest)
calculate cont
change in
calculate change in
years
Initial estimate : R100, 000 N : 10 1 : 10
YYYYYY Year 2 : R200000
1
, N 15
:
, :#
Chan dota s (Beg)
