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How to recognize assets as per IFRS. ?

IFRS

IFRS Banking &amp Finance
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Question added by Kaleem Khan , Accountant , VariMile Technologies
Date Posted: 2018/09/01
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Santhoshkumar PV
by Santhoshkumar PV , Finance Controller , High Class uPVC Profile Manufacturing LLC

Asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity (IASB Framework).

Please note : controlled,  not  owned

 

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