Farley And Partners

Assets 2: Supporting asset standards

Explores issues common across asset categories such as impairment, borrowing costs and the treatment of assets held for sale.

IAS 23: Borrowing costs

  • Scope of IAS 23
  • Qualifying assets
  • Determination of borrowing costs to be capitalised with regard to general borrowings and specific borrowings
  • Capitalisation period

IAS 20: Accounting for Government Grants and Disclosure of Government Assistance

  • Definition of government grants and government assistance
  • Grants relating to assets
  • Grants relating to income
  • Grants relating to past expenses

IAS 36: Impairment of Assets

  • Scope of IAS 36
  • Frequency of impairment testing
  • Indications of impairment
  • Impairment of a single asset
  • Impairment of a cash generating unit
  • Reversal of impairment losses

IFRS 5: Non-current Assets Held for Sale and Discontinued Operations

  • Recognition, measurement and presentation of non – current assets held for sale, including disposal groups
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