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Home Assignment Help

  • 10-10-2012 8:40am
    #1
    kitten_k
    Registered Users, Registered Users 2 Posts: 6,297 ✭✭✭


    Can anybody help with the attached home assignment (Question 1 only) as I am not sure what the issue is regarding the assets.


Comments

  • #2
    kitten_k
    Registered Users, Registered Users 2 Posts: 6,297 ✭✭✭kitten_k


    It doesn't show up blank when I open it. I have re-attached it to this post.


  • #3
    masoodsarwar
    Registered Users, Registered Users 2 Posts: 152 ✭✭masoodsarwar


    kitten_k wrote: »
    It doesn't show up blank when I open it. I have re-attached it to this post.

    Can I ask what is the standard of this exam?

    I mean at what level u got this question?

    As for the question.

    As the asset is being used by the sports club and they are not paying any rent.

    So repeating IAS 16 and framework.

    They are enjoying the economic benefits.
    Have control over the resourse.
    Risks and rewards?
    looks like they bear it.
    SO they need to show it in their balance sheet.

    I dont think it has something to do with segment reporting as the club is already making its FS.

    they need to charge the dep as well.
    if they recognise the asset, they should restate IAS-8 (error)

    thats my 2 cents.


  • #4
    kitten_k
    Registered Users, Registered Users 2 Posts: 6,297 ✭✭✭kitten_k


    Thanks for that. It is for a Diploma in IFRS


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