Welcome back after the half term break - lets hope you are raring to go!
Tomorrow we are going to revist the Statement of Financial Position - this should be fairly familar as you have completed a series of short questions on the balance sheet and SOFP in your packs.
We are going to focus on when and how we recognise property, plant and equipment under IAS 16, consider financial leases under IAS 17 and the definition and treatment of investment property under IAS 40.
We will discuss costs that can be included as part of the capitalisation cost of an asset, what is meant by fair value or recoverable value and how we treat incidental costs which will be treated as revenue costs in the income statement and not capitalised as part of the cost of the asset.
Looking forward to getting your long awaited homework on Statement of Financial position!
Lecture notes - week 5
http://www.scribd.com/full/22081591?access_key=key-29gxacdsww1e1bo36w7l
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