IFRS asset accounting
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questions
What are IFRS?
Where can I obtain the original IFRS documents?
Which entities need to apply IFRS?
For how long have these standards been effective?
Do I use cost or valuation as the basis for carry fixed assets?
If I use the revaluation model, what is the accounting treatment of 'accumulated depreciation prior to revaluation'?
How should depreciation be provided under IAS 16?
How do I account for impairment of assets?
Where do I show impairment losses?
How do I treat impairment of cash generating units?
Can I reverse impairment losses?
Can I reverse an impairment loss for goodwill?
What is goodwill and how should it be presented in the financial statements?
How does this compare with impairment of financial assets?
Where can I obtain the International Financial Reporting Standards?
These can be downloaded from the IFRS website:
http://www.ifrs.org/IFRSs/IFRS.htm