06-26-2004, 05:09 AM
Ref... to ur another post.....
Dear all helpers,
Recently I have joined in Finance department of a service based organization, and want to excel in this profession. I need your dire help in this regard. Please feedback on as fllows
(Sumaan, I hopefully expect your contribution as well)
1. What is the right defination (clearly understood) of Deffered Cost?
2. Softwares fall under Fixed or Current, if in Current why?
Regards,
Ideas Unlimited
Because we all live happy......
"Make this world a livelier place"
1. deffered cost is the cost which under defined, clearly demonstarted and explained and permitted circumstances, is not totally charged in income statement of current year rather is deffered for defined period in balance sheet and portion is charged in current year.
2. software is intangible asset (if it meets the recongnition criteria as defined in IFRS 38 intangibles) and it is not a current asset.
Dear all helpers,
Recently I have joined in Finance department of a service based organization, and want to excel in this profession. I need your dire help in this regard. Please feedback on as fllows
(Sumaan, I hopefully expect your contribution as well)
1. What is the right defination (clearly understood) of Deffered Cost?
2. Softwares fall under Fixed or Current, if in Current why?
Regards,
Ideas Unlimited
Because we all live happy......
"Make this world a livelier place"
1. deffered cost is the cost which under defined, clearly demonstarted and explained and permitted circumstances, is not totally charged in income statement of current year rather is deffered for defined period in balance sheet and portion is charged in current year.
2. software is intangible asset (if it meets the recongnition criteria as defined in IFRS 38 intangibles) and it is not a current asset.
