Ind AS 16

Ind AS 16 ‘Stripping Costs in the Production Phase of a Surface Mine’As per Para D32 any previously recognised asset balance that resulted from stripping activity undertaken during the production phase (‘predecessor stripping asset’) shall be reclassified as a part of an existing asset to which the stripping activity related, to the extent that there remains an identifiable component of the ore body with which the predecessor stripping asset can be associated. If there is no identifiable component of
the ore body to which that predecessor stripping asset relates, it shall be
recognised in opening retained earnings at the transition date to Ind ASs.


Comments

Post a Comment

Popular posts from this blog

Texas A&M — Mays Business School

Image
Texas A&M — Mays Business School Mays Business School took its name in 1996 — 35 years after its founding — when Lowry Mays, founder and former CEO of Clear Channel Communications, gave a $15 million endowment to the school. At just $57,316 in tuition and fees for the 16-month full-time MBA program, it's a sound investment for students, who on average make nearly twice that figure after graduating. Projects like the MBA Venture Challenge, in which students evaluate startup firms' commercial viability, ready them for careers in tech. Forty percent of grads who accepted jobs in 2015 went into the technology industry.
Read more

Gujarat Secondary and Higher Secondary Education Board

Image
The Gujarat Secondary and Higher Secondary Education Board (GSHSEB) was constituted in 1972, following the enactment of the Gujarat Secondary Education Act 1972. Its Chairman and Deputy Chairman are appointed by the State Government. It has 16 ex officio members, and 44 other members drawn from academic organizations, legislative bodies and civil society. Various Committees with specific responsibilities function under the Board, such as the Executive Committee, Examination Committee, Finance Committee, Education Committee, and Magazine Advisory Committee.
Read more

Remeasurements of defined benefit plans Remeasurements

Image
Remeasurements of defined benefit plans Remeasurements of the net defined benefit liability (asset) comprise (Para 127 of Ind AS 19 ‘Employee Benefits’): (a) actuarial gains and losses; (b) the return on plan assets, excluding amounts included in net interest on the net defined benefit liability (asset); and (c) any change in the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability (asset).
Read more