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+--- Thread: looking for help on IAS-18 (new question) (/thread-looking-for-help-on-ias-18-new-question)
looking for help on IAS-18 (new question) - zia ahmad - 12-17-2009
i)Entity A owns a hotel resort located on one of the islands in
the Bahamas with a population of some 10,000 people. The resort includes a joy-land park, housed in a separate building that is part of the premises of the entire hotel resort. its patrons would be largely limited to tourists and non-resident visitors only.
ii)The owner operates the hotel and other facilites on the hotel resort, with the exception of the joy-land park, which can be sold or leased out under a finance lease. The casino will be leased to
an independent operator. Entity A has no further involvement in it.
The joy-land park operator will not be prepared to operate it without the existence of the hotel and othe facilities.
REQUIRED-
HOW MANAGEMENT SHOULD TREAT THE HOTEL AND JOY-LAND PARK IN ITS
FINANCIAL STATEMENT, DISCUSS ALSO THE PROVISIONS OF APPLICABLE
STANDARD? (marks 05)