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Tuesday, 2 April 2013

Understanding IAS 29 per PricewaterhouseCoopers: Correction: Assets are not stated at cost as PricewaterhouseCoopers states


Understanding IAS 29 per PricewaterhouseCoopers: Correction 3: Assets are not stated at cost as PricewaterhouseCoopers states

 The individual assets, liabilities, shareholders’ equity, revenue, expenses and gains and losses are therefore stated at cost at the time at which these items were originated.’ P3

PricewaterhouseCoopers Understanding IAS 29 2006 p3

Assets are not stated at cost per se as PricewaterhouseCoopers states. Some assets can be stated at cost, but most are stated in terms of fair value, net realizable value, net present value, recoverable value, etc. in terms of IFRS.


Nicolaas Smith

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