08-13-2006, 05:59 AM
Ans NO 01
OKzzz Just wat wud be the solution of this question
IAS 23
ABC Ltd is constructng a qualifying asset and its sources of finance are as under
ABC ltd borrows specifically for this asset on 1 Jan 2005 an amount = Rs100 @ 8%
ABC ltd also has general borrowing fund of Rs 1000 on 1 Jan 2005
rate of capitalisation on such general boorowing = 10%
yr end is 31 dec 2005
the qualifying asset is planned to be commenced on 1Jan2005 but due to certain problems it couldn't be started before 1April 2005
an exp of Rs 200 is done on 1 April 2005 on the qualifying asset
REqcalculate amount of borrowing cost capitalised?
Ans No 02
para 38 of IAS 17 reads;initial direct costs are included in the initial measurement of the finance lease receivable and reduce the amount of income recognised over the lease term
wat does it mean??
Ans No 03
Ok this shall go the similar way as it is an addition of an asset as per IAS 16,likewise the development exp eligible for capitalisation is an addition to its relative class of intangible asset
Ans No 08
Can U Plz mention the reference of this change in Co ordinance
+ wat other imp changes hav there been as relevant to our Fiancial ACcounting...means 5th schedule
Ans No 09
IAS 11What possible situation/examples of future related costs ,which shall form part of WIP can be,besides the closing Raw material
ANs No 10
YAr Javed Zuberi is then outdated 4 sure b/c i hav the latest addition of book issed by zuberi..and also his realtive rehan zuberi who is our teacher is of the point that he is outdated.....means Its DANGEROUS 4 all those who totally rely on zuberi's books
SOme other Q's
Q No 13
IAS 11
shall B/S in exams be made in columnar form or statement form....
Q no 14
IAS 23
plz elaborate the concept of average expenditure????
e.g if ABC Ltd incurred total of RS 100 in a year on a qualifying asset ,and we doont know the dates on which the expenditures were made,then we dont capitalise on RS 100
rather we take its avg i.e (Opening exp + exp during the yr)/2,in this case (0+100)/2 = 50
OKzzz Just wat wud be the solution of this question
IAS 23
ABC Ltd is constructng a qualifying asset and its sources of finance are as under
ABC ltd borrows specifically for this asset on 1 Jan 2005 an amount = Rs100 @ 8%
ABC ltd also has general borrowing fund of Rs 1000 on 1 Jan 2005
rate of capitalisation on such general boorowing = 10%
yr end is 31 dec 2005
the qualifying asset is planned to be commenced on 1Jan2005 but due to certain problems it couldn't be started before 1April 2005
an exp of Rs 200 is done on 1 April 2005 on the qualifying asset
REqcalculate amount of borrowing cost capitalised?
Ans No 02
para 38 of IAS 17 reads;initial direct costs are included in the initial measurement of the finance lease receivable and reduce the amount of income recognised over the lease term
wat does it mean??
Ans No 03
Ok this shall go the similar way as it is an addition of an asset as per IAS 16,likewise the development exp eligible for capitalisation is an addition to its relative class of intangible asset
Ans No 08
Can U Plz mention the reference of this change in Co ordinance
+ wat other imp changes hav there been as relevant to our Fiancial ACcounting...means 5th schedule
Ans No 09
IAS 11What possible situation/examples of future related costs ,which shall form part of WIP can be,besides the closing Raw material
ANs No 10
YAr Javed Zuberi is then outdated 4 sure b/c i hav the latest addition of book issed by zuberi..and also his realtive rehan zuberi who is our teacher is of the point that he is outdated.....means Its DANGEROUS 4 all those who totally rely on zuberi's books
SOme other Q's
Q No 13
IAS 11
shall B/S in exams be made in columnar form or statement form....
Q no 14
IAS 23
plz elaborate the concept of average expenditure????
e.g if ABC Ltd incurred total of RS 100 in a year on a qualifying asset ,and we doont know the dates on which the expenditures were made,then we dont capitalise on RS 100
rather we take its avg i.e (Opening exp + exp during the yr)/2,in this case (0+100)/2 = 50
