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IAS 18 and IAS 38

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IAS 18 and IAS 38

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • November 14, 2014 at 4:36 pm #210019
    rameez13031988
    Participant
    • Topics: 42
    • Replies: 54
    • ☆☆

    These two statements are from OT notes

    if sales financed by the seller, difference between apparent sale value and fair value should be recognised as finance income … ( what is sales financed by the seller?)

    and

    all assets in a class should be revalued unless there is no active market, in which case follow benchmark ( what are the differnt classes of intangible asset that are normally found? )

    November 16, 2014 at 9:11 am #210345
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Sales financed by a seller is where the seller grants a period of credit (typically an extended period rather than simply 30 days or “payment receivable at the end of the month following invoice”

    Patents, copyrights, franchises, fishing rights, emission quotas ……

    Ok?

    November 16, 2014 at 2:54 pm #210451
    rameez13031988
    Participant
    • Topics: 42
    • Replies: 54
    • ☆☆

    k

    November 16, 2014 at 9:31 pm #210545
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    You’re welcome

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    Posts
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