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Amortization and Impairment
Amortization - capitalized costs would be amortized to reflect the pattern whether the related economic benefits are identified. Once commercial creation has commenced development costs should be amortized over the time of production such has benefited from the development expenditure. On a time using or basis a 'unit production' method this may be done.
Impairment - deferred development expenditure should be reviewed on the end of each accounting time and whether the circumstances that have justified the expenditure should be written off immediately, the deferral of the expenditure no longer applies.
The main process in audit work to verify compliance along with IAS 38 are to verify that the situation noted above for recognition of development costs have been complied along with.
Determinants of amount of audit evidence
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Problem: "If the auditor wishes to place reliance on internal control,he should ascertain and evaluate those controls and perform compliance tests on their operation" (a) De
what are the things we need to check in statutory audit of bank?
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Advocates - Specialized audit Situation The statutory provisions regulating the handling of client's monies are covered in the advocate's act. Reason of the rules:
10+22=
Verification Procedures - Investment Verification actions should follow the common approach outlined in favor of tangible noncurrent assets. Conversely the following particula
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