Thomas TsangWhen receivables classified from current to non-current, it needs to be measured at fair value upon reclassification. The different will be charged to profit and loss. It is because the receivables are measured at amortised cost.
Subsequent measurement will be at amortised cost.
Financial liabilities will be measured at amortided cost. The different will be charged to profit and loss when revise the payment.
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
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 assumptio
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