10-20-2003, 08:53 PM
Hi SMR
were u depreciated or just simply written off by your family in the first year of your articles? <img src=icon_smile_big.gif border=0 align=middle> <img src=icon_smile_big.gif border=0 align=middle> If your family wrote you off right in the first year than its ok, but if they showed you in their books for a period longer than one year and used some method of depreciation, then i am sorry my friend, i will have to raise an audit query on this as this is a serious case of accounting mis-estimation, either intentional or unintentional!
As is normal for this industry, a boy/girl who enters articleship ceases to provide any economic benefits to their family and hence they should not in any case be shown in the books and should immediately be written off! <img src=icon_smile_big.gif border=0 align=middle> If they assume that their boy/girl will start to provide these so-called economic benefits in six or more years time, then its only a contingency and we all know how contingent gains have to be treated according to IAS!! lol
btw... if u are being depreciated by your family, then can u please state the method of depreciation? I dont think that the benchmark treatment could be used over here. <img src=icon_smile_tongue.gif border=0 align=middle><img src=icon_smile_tongue.gif border=0 align=middle><img src=icon_smile_tongue.gif border=0 align=middle>
________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!
were u depreciated or just simply written off by your family in the first year of your articles? <img src=icon_smile_big.gif border=0 align=middle> <img src=icon_smile_big.gif border=0 align=middle> If your family wrote you off right in the first year than its ok, but if they showed you in their books for a period longer than one year and used some method of depreciation, then i am sorry my friend, i will have to raise an audit query on this as this is a serious case of accounting mis-estimation, either intentional or unintentional!
As is normal for this industry, a boy/girl who enters articleship ceases to provide any economic benefits to their family and hence they should not in any case be shown in the books and should immediately be written off! <img src=icon_smile_big.gif border=0 align=middle> If they assume that their boy/girl will start to provide these so-called economic benefits in six or more years time, then its only a contingency and we all know how contingent gains have to be treated according to IAS!! lol
btw... if u are being depreciated by your family, then can u please state the method of depreciation? I dont think that the benchmark treatment could be used over here. <img src=icon_smile_tongue.gif border=0 align=middle><img src=icon_smile_tongue.gif border=0 align=middle><img src=icon_smile_tongue.gif border=0 align=middle>
________________________
Arrrgh... it sure's gonna be mighty rough sailin' today ... mates!
