11-07-2007, 10:07 PM
Thanks Kamran, so IAS 8 is not needed to be applied, however, further costs whether pre operation expenses can't be deferred by a listed or un listed company.
IAS 18 lays down the guidance relating revenue recognition. In many cases revenue can't be recognized as it doesn't fulfill the specified recognition crieteria. So it was also used as a plea for deferring pre operating expenses.
IAS 18 lays down the guidance relating revenue recognition. In many cases revenue can't be recognized as it doesn't fulfill the specified recognition crieteria. So it was also used as a plea for deferring pre operating expenses.