New: IFRS 13 Fair Value Measurement [IFRS and FASB]
Finally, after five years of debate IFRS and the US’s FASB have agreed on definition of ‘Fair Value’. Although it does not change what is …
Posts tagged FASB
Fair Value Inputs Hierarchy (Fair Value Measurements)
For the purpose of fair value measurements, “inputs” are the assumptions that market participants would use in pricing an asset or liability, including assumptions regarding …
Valuation Techniques for Intangible Assets
There are three general approaches to valuing any asset or interest in a business. The three approaches are commonly referred to as (1) the cost …
Accounting Guidance For Derivative Instruments
In June 1998, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No. 133, “Accounting for Derivative Instruments and Hedging Activities” (“FAS …
Problem with Current Revenue Recognition [Change? How?]
Most revenue transactions—those initiated and completed almost at the same time—pose few problems for revenue recognition. However, not all transactions are that simple. For example, …
Capitalization And Amortization Of Software Cost
In general, the software industry is viewed as having several sectors, including packaged applications (shrink-wrapped software); operating systems for individual and networked computers; administration tools …
How To Account Product Financing Arrangement?
According to FASB Statement [FAS] 49 [Accounting for Product Financing Arrangements], the sale and repurchase of inventory is in substance a financing arrangement. The product …
Steps To Take To Capitalize Interest
Undertaking real estate projects requires significant capital, and financing cost is a major cost factor. If real estate is acquired that is not ready for …
Why IFRS Is A Strategic Accounting Initiative?
Back in January 2005, listed companies in the European Union must comply with the rules of the International Financial Reporting Standards (IFRS) elaborated by the …
Accounting For Real Estate 3: Cost Allocation
As real estate projects often span long time periods until their completion, it is of critical importance to evaluate at the outset of a real …
Accounting For Real Estate 2: Project Cost
Project costs are defined as “costs clearly associated with the acquisition, development, and construction of a real estate project”. In certain real estate projects, land …
Accounting For Real Estate: Acquisition, Development, And Construction
Investments in real estate projects require significant amounts of capital. For real estate properties that are developed and constructed, rather than purchased, project costs include …
Assets by FASB
In 1984, the FASB issued Concept Statement 5, which included discussion of assets. However, it was limited in scope, as one would expect in a …
New Draft, Statements, Amendment Of FASB (Ketentuan Baru FASB)
I have not followed FASB for quiet age and wondering “what is new at FASB?” Found lots of things are published recently: New exposure draft …