11-17-2009, 06:15 PM
Dear
May I be a dumb to some extent but really I could not understand what the question actually is?
You wrote
"Is the 'right to tax' entities an asset that should be recorded in the financial statements of governments?"
I mean I could not even appropriately transalte it into a meaningful understandable query.
If you can post it once again using some details and exact/complete words of the assignment, may I be of some help to you.
You further wrote
It requires an analysis in an essay including consideration of the following
-The application of definition and recognition criteria of the framework to this question
[WHICH FRAMEWORK YOU MEANT HERE?????]
-Measurement issues
[UNLESS FRAMEWORK IS MENTIONED HOW CAN ONE TALK ABOUT MEASUREMENT ISSUES?????]
-If an asset were to be recognized, what should the corresponding 'credit' be?
[LET ME KNOW THE FRAMEWORK, AND I WILL TELL YOU WHERE THE CREDIT WILL GO. IAS-20 PROVIDES GUIDELINE ON THIS MATTER]
-What should be the appropriate accounting treatment of this item if you believe that recording an asset is inappropriate?
[AGAIN IT DEPENDS UPON FRAMEWORK. in IFRSs, IAS-20 IS THE APPLICABLE PRONOUNCEMENT].
UNQUOTE
Now notwithstanding the above, you have not linked your accounting/reporting framework related questions with the questions pertaining to taxation? I mean the whole query is incomplete and unlinked.
You please narrate it in understandable manner and I will try to come back on it.
You please also mention which TAXATION LAW you want to keep in view because taxation rules are very specific and are quite varying from jurisdiction to jurisdiction.
Regards,
KAMRAN.
May I be a dumb to some extent but really I could not understand what the question actually is?
You wrote
"Is the 'right to tax' entities an asset that should be recorded in the financial statements of governments?"
I mean I could not even appropriately transalte it into a meaningful understandable query.
If you can post it once again using some details and exact/complete words of the assignment, may I be of some help to you.
You further wrote
It requires an analysis in an essay including consideration of the following
-The application of definition and recognition criteria of the framework to this question
[WHICH FRAMEWORK YOU MEANT HERE?????]
-Measurement issues
[UNLESS FRAMEWORK IS MENTIONED HOW CAN ONE TALK ABOUT MEASUREMENT ISSUES?????]
-If an asset were to be recognized, what should the corresponding 'credit' be?
[LET ME KNOW THE FRAMEWORK, AND I WILL TELL YOU WHERE THE CREDIT WILL GO. IAS-20 PROVIDES GUIDELINE ON THIS MATTER]
-What should be the appropriate accounting treatment of this item if you believe that recording an asset is inappropriate?
[AGAIN IT DEPENDS UPON FRAMEWORK. in IFRSs, IAS-20 IS THE APPLICABLE PRONOUNCEMENT].
UNQUOTE
Now notwithstanding the above, you have not linked your accounting/reporting framework related questions with the questions pertaining to taxation? I mean the whole query is incomplete and unlinked.
You please narrate it in understandable manner and I will try to come back on it.
You please also mention which TAXATION LAW you want to keep in view because taxation rules are very specific and are quite varying from jurisdiction to jurisdiction.
Regards,
KAMRAN.
