Professional Documents
Culture Documents
Online Class Notes From Lec 5, PPE
Online Class Notes From Lec 5, PPE
Online Class Notes From Lec 5, PPE
Investment Property
imp
property held for rentals or capital appreciation or both.
Non current assets held for sale
imp
Tangible, NCA whose recovery is likely to happen by means of sale
4 Conditions
S
Sale is likely to happen in near term (1-2 yrs)
A
Should be available for sale
L
Likely to happen
E
Estimated reliably : sale value can be estimated reliably
All 4 conditions should be fulfilled in conjuction to each other
Initial measurement
Depreciation
not chargged on NCAHFS
not charged in case of investment propert on reval. Model
only charged on cost model
INTANGIBLE ASSETS
without physical presence
identifiable
transferable
should arise by a contract
R&D expenditure
dec 2011 Q3
Scramble
a)
As per IAS 38, Scramble is correct in cpitalizing the devp. Cost. Furthermore, scrmble treatm
in P&L is appropriate cz the expenses have been incurred to maintain the current std. witho
of the intangible asset
The business is correct in valuing the asset at historical cost cz it depends on the discretion
of Cost or Revaluation model, provided you they do it on a consistent basis without changin
Impairment Points.. Revisit in next lecture
Value in Use / Discounting techniques with no tax implication
b) SKIP
c)
Ans
Per IAS 38, IA, as asset is categorised as an IA if the asset has a feature of identifiability an
Henceforth, the registration rights have been aptly treated as IA
However, the agent's feed results in extending the registration rights/ Player contracts / ac
the company will enjoy future economic benefits and the agent fees comes under the purv
hould we capitalize repair and maint. Cst or should we expense it to SOCI/ PnL