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
Copyright (c) 2005-2013 Nicolaas J Smith. All rights reserved. No reproduction without permission.
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