Search found 8 matches

by Lasa1
22 Oct 2020, 19:44
Forum: IFRS-related topics
Topic: IAS 2
Replies: 8
Views: 66

Re: IAS 2

Thanks for clarification!
by Lasa1
22 Oct 2020, 17:30
Forum: IFRS-related topics
Topic: IAS 2
Replies: 8
Views: 66

Re: IAS 2

Reading IAS2.38 I understand that unallocated production overheads should be included in COGS. However, I am struggling with IAS2.13: “The amount of fixed overheads allocated to each unit of production is not increased as consequence of low production or idle plant. Unallocated overheads are recogni...
by Lasa1
15 Oct 2020, 12:55
Forum: IFRS-related topics
Topic: IFRS 16: Lease of land
Replies: 5
Views: 79

Re: IFRS 16: Lease of land

Totally right and very well explained, thanks!
by Lasa1
15 Oct 2020, 12:16
Forum: IFRS-related topics
Topic: IFRS 16: Lease of land
Replies: 5
Views: 79

Re: IFRS 16: Lease of land

1.If we depreciate the RoU , are not we in contradiction with IFRS16.31 "A lessee shall apply the depreciation requirements in IAS 16 Property, Plant and
Equipment in depreciating the right-of-use asset, subject to the requirements in paragraph 32" which states that land is not depreciated.
by Lasa1
14 Oct 2020, 18:18
Forum: IFRS-related topics
Topic: Electricity contract
Replies: 10
Views: 138

Re: Electricity contract

Hello Leo,

First time that I give my opinion here so hope I won t confuse more.
Should not you consider the production plant as the identified asset? The plant will be fully dedicated to produce the electricity for your company.

Regards
by Lasa1
07 Oct 2020, 12:45
Forum: IFRS-related topics
Topic: What inventories are valued at fair value?
Replies: 6
Views: 90

Re: What inventories are valued at fair value?

That was quick! Thanks a lot.

I am preparing the Chartered Global Management Accountant professional certification to develop my accounting and financial analysis skills
by Lasa1
07 Oct 2020, 11:40
Forum: IFRS-related topics
Topic: What inventories are valued at fair value?
Replies: 6
Views: 90

What inventories are valued at fair value?

Hello, I will start saying that this is a very academic question because I am preparing a Finance certification. Question is : Which are the inventories that can be valued at fair value ? I found that IAS 41 allows agricultural production to be valued at fair value but are they the only ones? Thanks...