IAS 36 and Input: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Link with Intangible assets page.)
 
imported>Doug Williamson
m (Amend wording.)
 
Line 1: Line 1:
International Accounting Standard 36, dealing with impairment of assets.
1. ''Physical production.''


Issued by the International Accounting Standards Board.
In physical production processes, inputs generally include labour, materials, and manufactured commodities or components.




IAS 36 seeks to ensure that an entity's assets are not carried at more than their recoverable amount (i.e. the higher of fair value less costs of disposal and value in use).  
2.  ''Other production processes.''


With the exception of goodwill and certain intangible assets for which an annual impairment test is required, entities are required to conduct impairment tests where there is an indication of impairment of an asset, and the test may be conducted for a 'cash-generating unit' where an asset does not generate cash inflows that are largely independent of those from other assets.  
Similar parts of other production processes, especially people's or organisations' time and expertise.
 
For example, a technical expert group is a group established for the purpose of providing specialist technical input to a process, such as an arbitration or dispute resolution panel of the World Trade Oganization  to assist with questions requiring detailed consideration by experts.
 
 
3.  ''Analysis - modelling - valuation - measurement.''
 
Data used for analysis, modelling, valuation or measurement.
 
 
4.  ''Systems - technology - verb.''
 
To put information or instructions into a system, especially when done manually.
 
For example, to input offline voice or written instructions into a processing system.
 
 
5.  ''Indirect tax - value added tax (VAT).''
 
Input tax relates to the goods and services bought by a VAT-registered business.
 
Contrasted with ''Output tax''.




== See also ==
== See also ==
* [[Cash-generating unit]]
* [[Arbitration]]
* [[Fair value]]
* [[Commodity]]
* [[FRS 11]]
* [[Financial model]]
* [[Goodwill]]
* [[Indirect tax]]
* [[IFRS 9]]
* [[Input index]]
* [[Impairment]]
* [[Input tax]]
* [[Intangible assets]]
* [[Labour]]
* [[International Financial Reporting Standards]]
* [[Material]]
* [[Value in use]]
* [[Offline]]
* [[Output tax]]
* [[Resolution]]
* [[Supply chain]]
* [[Technical Expert Group]]
* [[Valuation inputs]]
* [[Value Added Tax]]
* [[Variable]]
* [[World Trade Organization]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Corporate_finance]]
[[Category:Compliance_and_audit]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Revision as of 13:51, 11 August 2021

1. Physical production.

In physical production processes, inputs generally include labour, materials, and manufactured commodities or components.


2. Other production processes.

Similar parts of other production processes, especially people's or organisations' time and expertise.

For example, a technical expert group is a group established for the purpose of providing specialist technical input to a process, such as an arbitration or dispute resolution panel of the World Trade Oganization to assist with questions requiring detailed consideration by experts.


3. Analysis - modelling - valuation - measurement.

Data used for analysis, modelling, valuation or measurement.


4. Systems - technology - verb.

To put information or instructions into a system, especially when done manually.

For example, to input offline voice or written instructions into a processing system.


5. Indirect tax - value added tax (VAT).

Input tax relates to the goods and services bought by a VAT-registered business.

Contrasted with Output tax.


See also