Ias 16 revaluation method - Study guides, Study notes & Summaries

Revaluation Model is a type of measurement model available to certain assets (usually land) within the scope of IAS 16. This summary combines lecture notes, Introduction to IFRS and personal notes in order to outline how to measure and disclose revaluation surpluses and deficits. This summary contains all the info you need in order to be able to answer questions. Supplement this summary with doing question bank questions in order to master this section.

S - The study-notes marketplace FAC2601 EXAM PACK UNIVERSITY EXAMINATIONS January/February 2021 FAC2601 FINANCIAL ACCOUNTING FOR COMPANIES 100 Marks Duration 2 Hours This paper consists of 8 pages. Instructions: Download this paper as soon as it has been accessed. Remember to complete and adhere to the Honesty Declaration. Please upload submission in PDF-format, single file not larger than 20Mb be...

FAC2601 FINANCIAL ACCOUNTING FOR COMPANIESThe following list of balances appear, amongst others, in the accounting records of Vusi Ltd on 31 October 2020: Ordinary share capital (shares issued at R2.30 each) R1 265 000 Proceeds of ordinary shares issued on 30 June 2020 R 540 000 (Shares issued at R2.70 each) The following decision was taken and has not yet been recorded in the accounting records of Vusi Ltd as at 31 October 2020: The directors decided on a capitalisation share issue of 1 share f...

FAC3702 EXAM PACK. Financial Reporting. IAS Limited is a manufacturing concern that handles a great number and variety of Inventory in the manufacturing process. To effectively manage the Inventory the board of directors has decided to buy a sofisticated Inventory management software system which was placed in the market by a system developer from Italy. On 2 January 2014 IAS Limited applied for a licence for the right to use the software system. On 15 March 2014 the licence was awarded to ...

Exam (elaborations) Liberty University ACCT 370 Exam 3 Complete solution Liberty University ACCT 370 Exam 3 Complete solution 100% satisfied: solutions 1. Under IFRS, deferred taxes: 2. Which of the following items used for resolving intra-firm comparisons is not generally disclosed? 3. Which of the following does not properly describe the presentation by the lessor under ASC 842? 4. Which of the following statements is correct with respect to the use of fair value accounting for lia...

Liberty University ACCT 370 Exam 3 Complete solution Liberty University ACCT 370 Exam 3 Complete solution 100% satisfied: solutions 1. Under IFRS, deferred taxes: 2. Which of the following items used for resolving intra-firm comparisons is not generally disclosed? 3. Which of the following does not properly describe the presentation by the lessor under ASC 842? 4. Which of the following statements is correct with respect to the use of fair value accounting for liabilities under IFRS?...

Which ONE of the following statements best describes 'residual value'? 1. The estimated net amount currently obtainable if the asset were at the end of its useful life 2. The present value of estimated future cash flows expected to arise from the continuing use of the asset and from its ultimate disposal 3. The amount at which the asset could be exchanged between knowledgeable, willing parties in an arm's length transaction 4. The amount of cash or cash equivalents that could currently ...

ASSETS AND LIABILITIES Introduction Property, plant and equipment are tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and are expected to be used during more than one period. Recognition of Property, Plant and Equipment IAS 16 states that the cost of an item of property, plant and equipment shall be recognized as an asset if, and only if:  it is probable that future economic benefits associate...

CPA Canada CFE Exam Prep Notes for Financial Reporting Topics Including: Financial Reporting Cash Based Accounting vs. ASPE or IFRS (First-time Adoption) Cash Basis Accounting vs. ASPE or IFRS and (ASPE 1500 / IFRS - First Time Adoption) Revenue Recognition ASPE 3400- Revenue Recognition IFRS 15- Revenue Recognition Intangible Assets IAS 38/ ASPE3064- Intangible Assets- Research and Development IAS 38/ ASPE3064- Intangible Assets- Goodwill Non-Monetary Transactions ASPE 3...