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Post [desc]			Author	Forum	Replies	Views	Posted
		Thread: Questions regarding Assets and Depreciation Post: As for as question 1 is concerned i am of the view... As for as question 1 is concerned i am of the view that it is change in accounting estimate because it is change in estimate of patteren of consumption of asset Regards Waqas Shabbir	wsafca	Accounting and Audit	12	8,914	08-13-2009, 04:31 AM
		Thread: Operating lease or Finance lease? Need your help Post: It is not the Finance Lease. There is only one ... It is not the Finance Lease. There is only one condition for the classification of lease given in standards which is reproduced below "A lease is classified as a finance lease if it transfers su...	wsafca	Accounting and Audit	44	19,574	08-13-2009, 04:35 AM
		Thread: cash flow from operating activities Post: Gain / loss on the sale of asset is a non cash ite... Gain / loss on the sale of asset is a non cash item. I Just give an example to explain. Asset Cost = Rs. 100,000 Acc. Dep = Rs. 60,000 Sold for = Rs. 50,000 Now what is Profit here? yes...	wsafca	Accounting and Audit	3	2,298	08-13-2009, 04:40 AM
		Thread: Cash Flow Statement - Indirect Method Post: I will do it for you. Balance sheet must be tal... I will do it for you. Balance sheet must be tally -) Here is a simple tip to tally cashflow statement. Calculate variation in the balance sheet head (current with previous) except cash and equiv...	wsafca	Accounting and Audit	11	4,547	08-13-2009, 04:45 AM
		Thread: Operating lease or Finance lease? Need your help Post: Dear Mr. Kamran To my understanding, risks and ... Dear Mr. Kamran To my understanding, risks and rewards incidental to owner ship means that; you becomes entitled to receive all the benefits from the asset, which would have been available if you h...	wsafca	Accounting and Audit	44	19,574	08-14-2009, 02:14 AM
		Thread: Operating lease or Finance lease? Need your help Post: I only got the summary of IFRIC 4 and also read ... I only got the summary of IFRIC 4 and also read the Prease Release on the same interpretation. this interpretation comments that certain arrangements should be considered as lease under IAS 17, when...	wsafca	Accounting and Audit	44	19,574	08-14-2009, 05:47 PM
		Thread: Operating lease or Finance lease? Need your help Post: Examples of situations that individually or in com... Examples of situations that individually or in combination would normally lead to a lease being classified as a finance lease are (As you already quoted) 11. Indicators of situations that indiv...	wsafca	Accounting and Audit	44	19,574	08-15-2009, 05:00 PM
		Thread: Operating lease or Finance lease? Need your help Post: I am not saying Risks and rewards definition from ... I am not saying Risks and rewards definition from IAS 18 should be used.. No. We will discuss but first consider "if any one critaria being met, it is finance lease"	wsafca	Accounting and Audit	44	19,574	08-15-2009, 05:04 PM
		Thread: Tax deduction at source - Salaries Post: Dear All Thanks to all and especially Mr Faisal... Dear All Thanks to all and especially Mr Faisal Mr. Saqib Taxable income shall be calculated in the following manner. First six months 15,000 x 6 = 90,000 Next six months 18,000 x ...	wsafca	Tax	7	4,468	08-15-2009, 05:22 PM
		Thread: Operating lease or Finance lease? Need your help Post: Dear Mr. Kamran As you said "Bold italic con... Dear Mr. Kamran As you said "Bold italic contents of IASs are the major guidelines (and not the framework) and cannot be interpretted without reading rest of explanatory portion. All paragraphs ...	wsafca	Accounting and Audit	44	19,574	08-15-2009, 05:55 PM
		Thread: Operating lease or Finance lease? Need your help Post: __________________________________________________... ______________________________________________________________________	wsafca	Accounting and Audit	44	19,574	08-15-2009, 06:29 PM
		Thread: Operating lease or Finance lease? Need your help Post: Dear All Well said ok.. I am Wrong You ha... Dear All Well said ok.. I am Wrong You have made this a personal issue. ok my intention was not this I thik i have used few wrong words that lead you to misunderstood my view point I wi...	wsafca	Accounting and Audit	44	19,574	08-15-2009, 10:31 PM
		Thread: Tax deduction at source - Salaries Post: Thanx Mr. Faisal for clarification Thanx Mr. Faisal for clarification	wsafca	Tax	7	4,468	08-15-2009, 10:53 PM
		Thread: Operating lease or Finance lease? Need your help Post: Ok This time i some what suceeded to put my vie... Ok This time i some what suceeded to put my view point a little better. I better clear few more things (In response to your para 4. I do not say, to pass title is essential. Yes it is (but in...	wsafca	Accounting and Audit	44	19,574	08-16-2009, 05:01 PM
		Thread: Operating lease or Finance lease? Need your help Post: Before moving further it is essential to know What... Before moving further it is essential to know What does it means to Transfer Risks and Rewards incidental to ownership. Mr. Faisal arleady quoted a para, which is relevent, we should bring it here ...	wsafca	Accounting and Audit	44	19,574	08-16-2009, 05:20 PM
		Thread: Operating lease or Finance lease? Need your help Post: The book Gripping IFRS also says If the risks a... The book Gripping IFRS also says If the risks and rewards a) are transferred from the lessor to the lessee, then the substance of the transaction is a purchase rather than a true lease; therefor...	wsafca	Accounting and Audit	44	19,574	08-16-2009, 05:36 PM
		Thread: Soft Copy of IAS? Post: Soft copy is emailed to every person who has given... Soft copy is emailed to every person who has given his email address on this page no. 2 Regards Waqas Shabbir	wsafca	Accounting and Audit	73	33,620	08-16-2009, 06:09 PM
		Thread: initial direct cost in lease Post: First i want to make you one think clear. in this ... First i want to make you one think clear. in this standard most of the words has two definitions. one from the view point of lessee. To explain how the lessee account for the lease and from the ...	wsafca	Accounting and Audit	3	3,910	08-16-2009, 06:35 PM
		Thread: initial direct cost in lease Post: What are the initial direct costs related to Lesso... What are the initial direct costs related to Lessors? Same costs directly attributable to negotiating and arranging a lease paid by the lessor. But if the lessor is the manufacturer of the ...	wsafca	Accounting and Audit	3	3,910	08-16-2009, 06:43 PM
		Thread: Operating lease or Finance lease? Need your help Post: All in vien I think you haven't read what i wro... All in vien I think you haven't read what i wrote. I thnik i wrote more than you can get. I Just explained What does it mean to transfer risks and rewards. I havn't yet analysed the current s...	wsafca	Accounting and Audit	44	19,574	08-16-2009, 11:19 PM
		Thread: Operating lease or Finance lease? Need your help Post: Dear Mr. Kamran Thanx to spend time with me. ... Dear Mr. Kamran Thanx to spend time with me. I agree.. it is finance lease I fact i never refused,(except first time, i bluntly said no it isnt finance lease, I had intentions behind that,w...	wsafca	Accounting and Audit	44	19,574	08-18-2009, 01:24 AM
		Thread: Help - balance, and profit and loss sheets Post: I cannot solve this for you, but will give you som... I cannot solve this for you, but will give you some good tips that I hope will definitly help you now and in future as well.. Step 1 Check whether trial is tally.. If yes then no problem and most ...	wsafca	Students	3	1,497	08-18-2009, 01:37 AM
		Thread: Cash Flow Statement - Indirect Method Post: Well said BilaL. If i would say any word more y... Well said BilaL. If i would say any word more you will mind. People donot like to get criticised. I dont know if the spellings are right or not. What can a person do, if cannot write even the sp...	wsafca	Accounting and Audit	11	4,547	08-18-2009, 01:46 AM
		Thread: Questions regarding Assets and Depreciation Post: Depreciation does not cease even when the asset ... Depreciation does not cease even when the asset becomes idle or is retired from active use unless the asset is fully depreciated. Whether depreciation is to be charged or not also depends upon th...	wsafca	Accounting and Audit	12	8,914	08-18-2009, 02:00 AM
		Thread: susceptibility in Audit Post: When there is risk that the financial statements m... When there is risk that the financial statements may be misstated, we say the financial statements are susceptibile to misstatements. It might help	wsafca	Accounting and Audit	2	2,148	08-18-2009, 02:25 AM
		Thread: Operating lease or Finance lease? Need your help Post: Thankx Mr. Kamran I said tell me one thing but ... Thankx Mr. Kamran I said tell me one thing but asked two... you havn't given the specific answer of those. Yes i understand it is some time difficult to give answer simply in Yes or No. I think ...	wsafca	Accounting and Audit	44	19,574	08-19-2009, 12:16 AM
		Thread: Questions regarding Assets and Depreciation Post: Dear Mr. Kamran I know you becomes arrogant on ... Dear Mr. Kamran I know you becomes arrogant on my questions.. But what if they do not intend to charge any rentals. I think IAS 24 may give some guidelines on it. This "if" is not added of my own b...	wsafca	Accounting and Audit	12	8,914	08-19-2009, 12:24 AM
		Thread: poetry Post: Dear all I would love to join you. Mazelain ... Dear all I would love to join you. Mazelain b us ke theen Raasta b us ka tha aik main akaila tha kafla b us ka tha Sath sath chalny ke khaishain b us ke theen ar rasta badalny ka faisla b u...	wsafca	General Discussion	739	385,257	08-19-2009, 01:23 AM
		Thread: Our Rulers Post: Deal all a very nice analysis of our-seleves by... Deal all a very nice analysis of our-seleves by Kamran bhai. Yes we have to change ourselves first. Mr. Kamran mentioned fe things -People say, rather promote, "Moseeqi roh ke Khiza hy". T...	wsafca	General Discussion	7	3,110	08-19-2009, 01:44 AM
		Thread: Our Rulers Post: You might of heard before Qoam per un jaisy he ... You might of heard before Qoam per un jaisy he hukmran musalat kiay jaty hain	wsafca	General Discussion	7	3,110	08-19-2009, 01:46 AM
		Thread: What to do in Commerce after Fsc? Post: No it is not so. But it normaly takes 6 years, ... No it is not so. But it normaly takes 6 years, whenever your start. You will do B.Com, you will get registered with any firm at start your CA. Registration contract will be for three years (e...	wsafca	Students	40	15,382	08-19-2009, 02:02 AM
		Thread: Help about CA Post: Dear Mr. Ali CA is not very difficult, but it r... Dear Mr. Ali CA is not very difficult, but it requires attention. There are no new rules or methodologies for this, just follow this 1- Take classes regularly and actively participate in discuss...	wsafca	Students	9	2,524	08-19-2009, 02:15 AM
		Thread: Questions regarding Assets and Depreciation Post: Dear Kamran bhai I got your point.. I think ... Dear Kamran bhai I got your point.. I think i am waek in english, thats why people could not understand what i says. I didnot said, IAS 24 allows this and that. I was actualy asking IAS 24 mu...	wsafca	Accounting and Audit	12	8,914	08-19-2009, 11:17 PM
		Thread: What to do in Commerce after Fsc? Post: You go this way or that Best of luck and best w... You go this way or that Best of luck and best wishes for your future Regards Waqas	wsafca	Students	40	15,382	08-19-2009, 11:29 PM
		Thread: General Accounting Questions Post: Would some body please help? Kamran bhai where ... Would some body please help? Kamran bhai where are you Faisal, Bilal and awais, I think you all can help at least	wsafca	Accounting and Audit	9	4,378	08-19-2009, 11:32 PM
		Thread: Fully depreciated assets Post: I think, it depends upon the management intent to ... I think, it depends upon the management intent to use revaluation model or the cost model. I would like to mention one which might be relevent that.. If management intends to revalue one asset, ...	wsafca	Accounting and Audit	4	5,060	08-19-2009, 11:40 PM
		Thread: Help about CA Post: You would know better whether you can manage or no... You would know better whether you can manage or not.. CA demands your attention,concentration and time. I would not be able to manage time, if I had to teach some subject other than that of course ...	wsafca	Students	9	2,524	08-19-2009, 11:46 PM
		Thread: General Accounting Questions Post: Thanks alot to you both I have one confusion, i... Thanks alot to you both I have one confusion, if you please reconsider and specifically clear. As the company receives funds in foreign currency and incur expenditure in Pak Rupees. Isn't in thi...	wsafca	Accounting and Audit	9	4,378	08-21-2009, 01:02 AM
		Thread: IAS7-Cashflow statement Post: I would love to have it for my practice, if you ma... I would love to have it for my practice, if you may please send me this as well? Regards Waqas	wsafca	Accounting and Audit	4	3,558	08-21-2009, 04:04 AM
		Thread: General Accounting Questions Post: IAS 21 somewhere mentions that The primary econ... IAS 21 somewhere mentions that The primary economic environment in which an entity operates is normally the one in which it primarily generates and expends cash. I think in the present scenario ...	wsafca	Accounting and Audit	9	4,378	08-22-2009, 12:25 AM
		Thread: Funded/Unfunded Gratuity and WWF Post: Querry 1 To my understanding funded gratuity is th... Querry 1 To my understanding funded gratuity is the employee benifit scheme for which, a separate fund, trust or like arrangement has been made. Like OGDCL, Mari Gas and many other has arranged separa...	wsafca	Accounting and Audit	8	19,993	08-22-2009, 02:25 AM
		Thread: Funded/Unfunded Gratuity and WWF Post: Querry 2 I haven't read any stipulation in this re... Querry 2 I haven't read any stipulation in this regard. I had a discussion last time with the PArtner (though not specificaly for this purpose) he mentioned, Provident Gratuity and other benefits are ...	wsafca	Accounting and Audit	8	19,993	08-22-2009, 02:30 AM
		Thread: Funded/Unfunded Gratuity and WWF Post: Querry 3 There are several sources WWF receipts ... Querry 3 There are several sources WWF receipts 1-Initial deposit by the Federal Government of Rs, 100 Million 2- 2% of the total income,when the income exceeds Rs. 100,000 in any accounting year....	wsafca	Accounting and Audit	8	19,993	08-22-2009, 02:34 AM
		Thread: General Accounting Questions Post: Can any body please explain me, What are the "Loan... Can any body please explain me, What are the "Loan based Project" and "Equity based Projects". I am asking in context of Company Isuuance of share capital rules	wsafca	Accounting and Audit	9	4,378	08-22-2009, 03:03 AM
		Thread: Need Guidance on CA after B.Com Post: You can get registered with the Firm and start CA ... You can get registered with the Firm and start CA Benefits 1- I prefer CA over ACCA due to its more scope in Pakistan.(this is my personal opinion) 2- It will cost you less than ACCA ( i am t...	wsafca	Students	6	4,606	08-22-2009, 03:18 AM
		Thread: Funded/Unfunded Gratuity and WWF Post: Dear Mr. Kamram Thanx for clarification Can ... Dear Mr. Kamram Thanx for clarification Can you please give me some reference to that stipulation i.e payment of at least one staff retirement benefit. Regards Waqas Shabbir	wsafca	Accounting and Audit	8	19,993	08-22-2009, 07:29 PM
		Thread: Need Guidance on CA after B.Com Post: Yes Rabia-k One module is for six months, there... Yes Rabia-k One module is for six months, therefore it takes 2 years to complete first four modules. Thereafter you are eligible to give exams of module E after 1.5 years Thereafter you are e...	wsafca	Students	6	4,606	08-22-2009, 07:45 PM
		Thread: What to do after F.Sc Post: Why dont you go for ACCA? It is a two years and... Why dont you go for ACCA? It is a two years and 14 papers course. Right after you claim exemptions from CA - Intermediate 11 papers of ICAEW out of 14 Then you may register with any CA fi...	wsafca	Students	2	1,562	08-27-2009, 09:53 PM
		Thread: poetry Post: Very nice poetry dear Ammu. Keep it up Very nice poetry dear Ammu. Keep it up	wsafca	General Discussion	739	385,257	09-06-2009, 02:46 AM
		Thread: Section 208 of Companies ordinance, 1984 Post: Thanks Kamran bhai for your comprehensive solution... Thanks Kamran bhai for your comprehensive solution to the situation From point of view of the "Financee" (The company who has 'received' the finance, is there any implication of the fact on Auditor...	wsafca	Accounting and Audit	7	7,113	10-01-2009, 02:00 AM

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