[khawarbutt]

Hi,
Thanks for the swift response. IFRS 9 says that Investment in equity shares can be classified as FVTPL (if held for trading) or FVOCI (if not held for trading). Why would it not be classified as FVTPL.

Cheers.

[khawarbutt]

Hi Cath,
Thank you for your quick reply. It makes sense but my question is when there is opening & closing inventory which has been measured at std cost, would we calculate the variance using materials purchased or materials consumed?

[khawarbutt]

Thank you Chris!

[khawarbutt]

Hi,
So it is an adjusting event.
Makes sense. Thanks a lot.

[khawarbutt]

Apologies. We will not but if it is covering 3 years, would we prepay/defer it and show it as an asset on BS. If we will then would we do an adjustment for that under the scensrio mentioned above?

[khawarbutt]

Hi,
Thank you for your response.
We have paid for the warranty and i assume it was capitalised with the cost of asset ( since it covers more than one period) and would be written off to P & L over the no of years the warranty is for.So would we not do an adjustment to that amount which has been paid and capitalised in the books?

Waiting for your kind response.?

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