Financial Accounting
- Business
What Is The Use Of Company Shares | Use Of Share Capital?
What is the use of company shares? Very simple to say that The ownership rights in a corporation are usually…
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When A Liability Is Recognized? | Liability Recognition Criteria
Accounting liabilities :When a Liability is recognized? This question may rise in your mind. But do not worry! Knowledgiate is…
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Methods of Charging Depreciation to Departments
Methods of Charging Depreciation (Equipment): Depreciation is usually a cost not controllable by departmental foremen. However, their use of equipment…
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How To Depreciate Spare Parts In Property, Plant and Equipment
As per paragraphs 43 to 47 of IAS 16, we came to know How To Depreciate Spare Parts In Property,…
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What Is Residual Value Of An Asset?
The residual value of an asset cannot be determined as your own method. Para 6 of IAS 16 provided the…
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How Is Useful Life Of An Asset Determined?
Para 6 of IAS 16 states that the Useful life of an Asset is: (a)Â Â the period over which an…
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Rules For Determining The Cost Of Plant Assets
Determining the cost of Plant Assets cannot be done whimisically by any organization. There is a clear cut guidelines in…
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Alternative measurement method exist after assets are recognized
There are two alternative measurement method exist after assets are recognized? Para 29 of IAS 16 states: An entity shall…
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Determine other comprehensive income in accordance with IAS 19?
Which of the following items in relation to a defined benefit fund are recognized in (i) profit or loss and…
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Recognition Of Wrongful Termination Benefits Payable In FS
A company decided to close down a branch of the company’s operations when the lease expired in the following February.…
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