05-01-2006, 12:03 AM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Pracs</i>
<br />Per IFRS 5 such an asset should be classified under the said standard (since there is an intention to sell within a yearâs time and meets other requirements). Presuming that there is no legal agreement to lease back (at the balance sheet date), I think a disclosure to that fact would suffice.
I understand you are towing the line of âsubstance over formâ, what is your opinion on this ?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Thanks Pracs.
As I am not at home and now on ICI plant. Once I come back to land we will have discussion on it.
@Adnan sahab, let me entertain ur posts too once I come back.
ICAPians, the unparalleled..
<br />Per IFRS 5 such an asset should be classified under the said standard (since there is an intention to sell within a yearâs time and meets other requirements). Presuming that there is no legal agreement to lease back (at the balance sheet date), I think a disclosure to that fact would suffice.
I understand you are towing the line of âsubstance over formâ, what is your opinion on this ?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
Thanks Pracs.
As I am not at home and now on ICI plant. Once I come back to land we will have discussion on it.
@Adnan sahab, let me entertain ur posts too once I come back.
ICAPians, the unparalleled..