08-13-2006, 08:27 AM
QNo1 Borrowing cost to be capitalized = 100*.8*9/12 + 100*.1*9/12 = 6+7.5 = 13.5
and regarding average expenditure, who gave u this concept?? and wut about the concept of opening expenditure? there is no such thing like opening expenditure in financial accounting....
QNo2 Ok previously the IDCs were expensed out and the other effect was given to the unearned finance income. But now as these costs are required to be capitalized so we shall not include them in the UFI. and due to the increase in cost of asset the receivable will automatically increase.
QNo8 My updated ordinance is at office, so i'll tell u the reference on tuesday...
Other recent amendments are the exclusion of incorporation expenses from the definition of intangible asset and the non recognition of proposed dividend as a liability, and both need a retrospective effect.
QNo9 Let me check out
QNo10 Let alone zubairi, the BPP revision kit has some mistakes like that. and let alone BPP, this summer Module E paper included a question of IAS 12 which asked the income statement approach that is disregarded by IAS 12. Now balance sheet approach is followed.
QNo13 Just give the relevant extracts of balance sheet. no need to give any format.
QNo14 c QNO 1
and regarding average expenditure, who gave u this concept?? and wut about the concept of opening expenditure? there is no such thing like opening expenditure in financial accounting....
QNo2 Ok previously the IDCs were expensed out and the other effect was given to the unearned finance income. But now as these costs are required to be capitalized so we shall not include them in the UFI. and due to the increase in cost of asset the receivable will automatically increase.
QNo8 My updated ordinance is at office, so i'll tell u the reference on tuesday...
Other recent amendments are the exclusion of incorporation expenses from the definition of intangible asset and the non recognition of proposed dividend as a liability, and both need a retrospective effect.
QNo9 Let me check out
QNo10 Let alone zubairi, the BPP revision kit has some mistakes like that. and let alone BPP, this summer Module E paper included a question of IAS 12 which asked the income statement approach that is disregarded by IAS 12. Now balance sheet approach is followed.
QNo13 Just give the relevant extracts of balance sheet. no need to give any format.
QNo14 c QNO 1
