Embedded Files
1. Introduction
1-1 Introduction [R]
1-1 Introduction [R]
1-2 Q&A Farmer [R]
1-2 Q&A Farmer [R]
1-3 Q&A Fatima Limited [X]
1-3 Q&A Fatima Limited [X]
1-4 Q&A Animals [R]
1-4 Q&A Animals [R]
2. Recognition and Measurement
2-1 Recognition & Measurement [R]
2-1 Recognition & Measurement [R]
Query: Sir biological asset ko hum depreciate karein YA impaired karein gai
Response: Mostly not, as no depreciation or impairment needed when biological assets are being measured at fair value less cost to sell. Only exception is when cost model is used (because fair value cannot be measured reliably on initial recognition), in that case depreciation and impairment are relevant.
2-2 Q&A XYZ Limited [O]
2-2 Q&A XYZ Limited [O]
2-3 Q&A Adeel Limited (i) [O]
2-3 Q&A Adeel Limited (i) [O]
2-4 Q&A Kashif Limited (i) [O]
2-4 Q&A Kashif Limited (i) [O]
2-5 Q&A ABC Limited [O]
2-5 Q&A ABC Limited [O]
2-6 Q&A Adeel Limited (ii) [I]
2-6 Q&A Adeel Limited (ii) [I]
2-7 Q&A Kashif Limited (ii) [I]
2-7 Q&A Kashif Limited (ii) [I]
2-8 Q&A Multan Limited [R]
2-8 Q&A Multan Limited [R]
2-9 Q&A Peshawar Limited [R]
2-9 Q&A Peshawar Limited [R]
3. Disclosure
3-1 Disclosure [R]
3-1 Disclosure [R]
Query: Sir yh agriculture mn agr disposal ho ga to gain or loss arise ho skta hy?? Aur i think k woh apni fair value lrs cost to sel py e, ,appear ho ,ra h,aino g,a ,lekin ,s,ir agr ,asa hy to is ka gin or los fair value, k norml working m shmil ho ga ya alhda sy kren gy kindly is k bta dn bht cnfusing hy
Response: Yes. Gain or loss may arise on disposal of biological assets. Biological assets are measured at fair value less cost to sell at initial recognition and at year end. So when disposal is made mid-year, it is likely that gain or loss would arise that would be recognised in PL. It shall be presented separately from gain or loss due to change in fair value less cost to sell.
IAS 41 Para 50 and 55 indicate this concept.
3-2 Q&A Nawabpur Farming Limited [R]
3-2 Q&A Nawabpur Farming Limited [R]
4. Comprehensive Examples
4-1 Q&A Smooth Road Limited [I]
4-1 Q&A Smooth Road Limited [I]
4-2 Q&A The Dairy Company [O]
4-2 Q&A The Dairy Company [O]
4-3 Q&A Maria Limited [O]
4-3 Q&A Maria Limited [O]
4-4 Q&A True or False (ICAP Spring 2021) [R]
4-4 Q&A True or False (ICAP Spring 2021) [R]
4-5 Mishal Limited [R]
4-5 Mishal Limited [R]
5. Objective Based Q&A
5-1 MCQs 1 to 24 [R]
5-1 MCQs 1 to 24 [R]
Query: Sir McQ 17 me purchased ka wrd h..(already recorded ka nahi ..) So initial recognition bhi to FV less CTS pr hoti h r honi chaiye 100 ka 95% Lena chaiye?
Response: Yes. Agreed.
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