In the initial application of FRS116. There are two way to recognize right of use assets under adjustment to opening balance
1 it is to right of use asset as if since commence date. The cumulative depreciation are adjusted to retained earnings
2 to recognize the right of use asset equal to lease liability on initial application. There will be have any retained earning effect.
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
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