In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptions, the cost component to available evidence. The reasonableness of budgeted cost can be assessed through historical project, gross profit analysis of project.
When apply discount on lack of marketability (DLOM) and lack of control (DLOC) on enterprise value (EV), it is a multiple of EV x (1-DLOM) x (1-DLOC). But apply the discount on Equity value would lowe
In accordance with SFRS109, investment in equity instruments must be subsequently measured at fair value. In limited circumstances, cost represents the best estimate when recent information not avail
For change of accounting policy for PPE from cost model to revaluation model. It is not follow FRS 8 as exempted from prior year adjustment. The change will apply prospectively from the date of reva