What are Incoterms? Incoterms is an abbreviation of the phrase “International Commercial Terms.” It is a term trademarked by the International Chamber of Commerce. Their purpose is to aid communication and reduce confusion when dealing with international and global trade. An Incoterm is something that describes and defines a transaction between two parties, usually the party…
Category: CA/ACCA
IAS 16 Property, Plant and Equipment
Standard IAS 16 prescribes the accounting treatment for property, plant and equipment. Related Standard IFRS 5 Non-current Assets Held for Sale IFRS 16 leases IAS 40 Investment Property IAS 36 Impairment of Assets IAS 23 Borrowing Costs. Definition: Property, plant and equipment are #tangible items that are #held_for_use in the production or supply of goods…