Transcription of Applying IFRS - EY
{{id}} {{{paragraph}}}
Example: air traffic controller
Applying IFRS - EY
Applying IFRS. IFRIC 21 levies Accounting for levies June 2014. Contents In this issue: 1. Introduction .. 3. 2. Scope of IFRIC 21 .. 3. 3. Recognition and measurement .. 8. Identification of the obligating event .. 8. Timing and measurement of liability 10. 4. Recognition of an asset or expense .. 12. 5. Interim reporting .. 14. 6. Effective date and 20. June 2014 - Accounting for levies 1. What you need to know IFRIC 21 clarifies that an entity recognises a liability for a levy when the activity that triggers payment, as identified by the relevant legislation, occurs. The scope of this interpretation is very broad and captures various obligations, which are imposed by governments in accordance with legislation and sometimes not always described as levies .
June 2014 - Accounting for Levies 3 1. Introduction When governments or other public authorities impose levies on entities’ business activities, as opposed to income taxes and fines or other penalties, it is
Loading..
Tags:
Information
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document: