Business
Business related articles
What are the Recognition Criteria for Income under the Conceptual Framework?
July 1, 2014
What are the Recognition Criteria for Income under the Conceptual Framework?
The recognition criteria for income under the Conceptual Framework are: “Income is recognized in the income statement when an increase…
How Is IAS 18 Inconsistent With The Conceptual Framework
July 1, 2014
How Is IAS 18 Inconsistent With The Conceptual Framework
IAS 18 inconsistent with the Conceptual Framework: Inconsistencies arise between the Conceptual Framework and IAS 18 in regards to the…
What is the asset or liability model for the definition and recognition of income?
July 1, 2014
What is the asset or liability model for the definition and recognition of income?
The asset or liability model for the definition and recognition of income: The definition of income as encompassing both revenue…
What Are The Key Difference Between Income And Revenue?
July 1, 2014
What Are The Key Difference Between Income And Revenue?
Key difference between income and revenue? INCOME:Â As per Conceptual Framework , income is ” increases in economic benefits during…
Issues With Measuring Fair Value Of A Manufacturing Site
June 30, 2014
Issues With Measuring Fair Value Of A Manufacturing Site
The price which will be received to sell an asset or paid to transfer a liability in an orderly transaction…
Different Level Of Fair Value Hierarchy
June 30, 2014
Different Level Of Fair Value Hierarchy
There are 3 valuation approaches into which fair value inputs or assumptions are made. The inputs are classified as observable…
Benston Criticism On Fair Value Accounting
June 30, 2014
Benston Criticism On Fair Value Accounting
Benston criticism on fair value accounting has explored many areas of organizational issues. The comment that “the exit price of…
Fair Value Numbers In The Measurement Of Fair Value
June 30, 2014
Fair Value Numbers In The Measurement Of Fair Value
The measurement of fair value under IFRS 13 is based on a hypothetical transaction between the reporting entity and market…
Characteristics Of Fair Value Accounting
June 30, 2014
Characteristics Of Fair Value Accounting
Key characteristics of fair value accounting based on its definition are shown below. The key characteristics of fair value accounting…
IFRS guidelines on Fair Value Measurement
June 30, 2014
IFRS guidelines on Fair Value Measurement
The definition of fair value measurement prior to the issue of IFRS13 was as follows: Â Fair value is the amount…