Accounting Standard 10: Accounting for Fixed Assets • Fixed asset is an asset held for producing or providing goods and/or services and is not held for sale in the normal course of the business. • Cost to include purchase price and attributable costs of bringing asset to its working condition for the intended use. It includes financing cost for period up to the date of readiness for use. • Self-constructed assets are to be capitalised at costs that are specifically related to the asset and those
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S T U D Y T E X T PERFORMANCE MANAGEMENT BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for the ACCA qualification. In this‚ the only Paper F5 study text to be reviewed by the examiner: • • • • • • • • We discuss the best strategies for studying for ACCA exams We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating
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Introduction * Meaning of Standard Costing: Standard costing is simply the name given to a technique whereby standard costs are computed and subsequently compared with the actual costs to find out the differences between the two. These differences are then analyzed to know the causes thereof so as to provide a basis of control. * Standard Costing: According to BROWN and HOWARD “Standard costing is a technique of cost accounting which compares the standard cost of each product or service
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1 . FASB Accounting Standards Codification (FASC) This section deals with certain general background considerations and information related to the FASC and the answers can be found by clicking the “About the Codification” and “Notice to Constituents” sections on the FASC Welcome Page. This section is a good general source of information about the FASC and should be reviewed prior to starting to answer the specific questions set forth in all sections. The related research questions that you must
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of premium or discount on issue of debentures or bonds etc c) Amortisation of ancillary cost i.e stamp duty‚ registration charges‚ issue expenses etc AS -16 deals with how accounting of borrowing cost should be carried out. Applicability: Applicable to all levels of Enterprises Objective: Prescribe accounting treatment for borrowing cost .i.e if loan is borrowed for purchase of Asset‚ whether interest cost should form part of total cost or not.i.e it should be capitalized Important
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On September 28 2010‚ the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) had declared they had completely conducted the first stage of The Conceptual Framework joint project. The purpose of this joint project is to further improve an advanced conceptual framework for International Financial Reporting Standards (IFRSs) and US Generally Accepted Accounting Practices (GAAP) (Norwalk 2010). Basically‚ the conceptual framework is an attempt to express
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assistants (I was one of them) and one semi- senior. I had not previously worked with that particular semi – senior‚ so I prepared all my work according to the company’s audit procedures‚ which comply with the ISA and also with the National Standards. Since I began working in the firm I had never received serious complaints from the seniors or managers with whom I had been working. This is why I was very surprised when the semi – senior I was currently working with gave me back all my working
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ACCA EXAM TIPS P5 ADVANCED PERFORMANCE MANAGEMENT – DECEMBER 2012 Posted by Davinia McGann in Accountancy & Tax‚ 01.11.2012 As Head of ACCA Programmes here at BPP‚ I have asked my expert subject managers for ACCA Exam Tips for your forthcoming December 2012 exams. Here is what Doug Haste‚ our ACCA P5 Advanced Performance Management Subject Manager had to say: “Section A (50-70 marks in total) will contain two compulsory questions; each question will be allocated between 25 and 40 marks. The
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ACCA Paper F7 Financial Reporting (INT) Class Notes June 2011 www.studyinteractive.org © The Accountancy College Ltd January 2010 All rights reserved. No part of this publication may be reproduced‚ stored in a retrieval system‚ or transmitted‚ in any form or by any means‚ electronic‚ mechanical‚ photocopying‚ recording or otherwise‚ without the prior written permission of The Accountancy College Ltd. W W W .S T U D Y I NT ER A C T I V E .OR G 2 Contents PAGE INTRODUCTION TO
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determinants of the level of business activity in the economy and how variations in the level of business activity affect individuals‚ households and businesses © accountingclassroom.com 2008 Student Notes for ACCA F1-Accountant in Business © accountingclassroom.com 2008 Student Notes for ACCA F1-Accountant in Business Session Objectives Explain the impact of economic issues on the individual‚ the household and the business: i) Inflation ii) Unemployment iii) Stagnation iv) International payments
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