+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Accounting and Audit (https://www.accountancy.com.pk/forum/forum-accounting-and-audit)
+--- Thread: looking for help in IAS-11 and IAS-7 (/thread-looking-for-help-in-ias-11-and-ias-7)
looking for help in IAS-11 and IAS-7 - zia ahmad - 02-18-2010
AOA.
A)I need heip in ias-11.
"material costing 5000 were damaged and had to disposal for 1000". WHAT WIIL BE TREATMENT FOR IT WHEN WE CACULATING THE STAGE OF COMPLETATION OF CONTRACT.
1.IS IT 5000 WILL BE DEDUCTED FROM COST INCURED TO DATE?
2.IS 1000 WILL TREATED AS INCIDENTIAL INCOME THAT WILL REDUCE THE CONTRACT COST UNDER PARA-17 OF IAS-11?
B)IN CASH FLOW STATEMENT
1.PROFIT FROM ASSOCIATED COMPANY IS TREATED AS CASH FLOW FROM OPERATING ACTIVITY?
IF YES THEN WHY "DIVIDEND RECEIVED" IS TREATED AS CASH FLOW FROM
INVESTING ACIVITIES?