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How to Record Fixed Assets
01-06-2011, 09:35 PM
Post: #1
How to Record Fixed Assets
Can anyone please guide me in light of IAS, how to record assets purchased through ijarah?
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01-08-2011, 10:55 PM
Post: #2
 
Ijarah? isn't it lease in Islamic Banking

The Treatment is same as for Leased Assets under IAS 17 Leases and IAS 16 PPE. If you need further details please post.
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01-09-2011, 10:41 PM
Post: #3
 
Yeah... Now depend whether finance or operating lease

Asset Subject to Lease
To Lease Liablity

will be the accounting entry in case of former
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01-10-2011, 05:06 PM
Post: #4
 
@ Salaman,

If you can, please explain what would be the accounting entry for recording such asset?
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02-16-2011, 05:37 PM
Post: #5
 
Fixed assets is the long term asset. Depreciation would be the better method that allows the firm to spread the cost of the fixed asset. If it's under a lease then you're ought to care on the assets.
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