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Hello everyone here, I have question about the warranty contract.
I company makes a contracrt to sell an item and gives a five year warranty to the item, but it is not possible to identify the warranty cost alone, in this situation what standart we should use?
Thank you in advance!Hello everyone, I have a question about Financial Instruments,
The company made three contracts with a bank and took three different types of loans : Eurobond, Unicredit and Just credit from Bank’s own money in USD for financing import contracts to have PPE.
Question:
1. Are the Loans for us Financial asset or Financil liability ?
2 . Our functional currency is UZS so at the end of the period we have FX gain and losses with the remaining amounts at the bank and what we will do with them?
3 . The prepayment that we have sent at the end of the period do we remeasure the money we prepaid?
4. The company took loans with X% interest will there be discounting of the loan or not?
Thank you in advance !Hello everyone here!
My question is about the double entry of the borrowing cost.
Above there the entery will be DR PPE and CR Interest accrued, but don’t we first prepare SPL and SFP if we have nothing for interest(Finance cost) in the SPL, How we show Finance cost in the SFP? Thanks in advance