Professional Documents
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m Scope.
m Objective.
m Measurement of inventories-
ë Cost inventories .
ë Cost purchase.
ë Cost convention.
ë Other cost.
m Definition.
m Benefit.
m Presentation of cash flow-
Operating activities.
Investing activities.
Financial activities.
m The term ³contingencies´ used in this Statement is restricted to
conditions or situations at the balance sheet date, the financial
effect of which is to be determined by future events which may or
may not occur.
m Events which occur between the balance sheet date and the date
on which the financial statements are approved, may indicate the
need for adjustments to assets and liabilities as at the balance sheet
date or may require disclosure..
m
m The following terms are used in this Statement with the
meanings-
m Ordinary activities
m Extraordinary items
m Prior period items
u |ccounting policies
m O
other
amount substituted for historical cost in the financial statements, less the
estimated residual value.
becoming
mandatory for respective enterprises.
m
arising in the course of the ordinary activities of an
enterprise from the sale of goods, from the rendering of services,
and from the use by others of enterprise resources yielding interest,
royalties and dividends.
m The cost of a fixed asset should comprise its purchase price and any
attributable cost of bringing the asset to its working condition for its
intended use.
m This Statement does not deal with the presentation in a cash flow
statement of cash flows arising from transactions in a foreign
currency .
m This Statement applies to assets that are carried at cost. It also applies
to assets that are carried at revalued amounts in accordance with other
applicable Accounting Standards.
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