AVS Ltd issued bonds last year. The current year is 2018. Against these bonds, AVS is expected to receive a fixed amount of payment every month until its maturity which is to be in the year 2022. On 2022, the bonds are to be returned to AVS Ltd with the amount reimbursed back to the investor.
How does the International Accounting Standards recommend presenting these in the Financial Statements?
Healthcare Ltd has multiple units within their single company, comprising various projects such as Hormone projects and Biogenetic Projects. In their Financial Statements, they showed the entire investments of these projects as Capital Work in Progress (CWIP). This includes the buildings, machinery, furniture, etc.
Is Healthcare correct in recording these assets as per the International Accounting Standards?
Q 3. Son Ltd, operating in the USA, has a related Party at India with which it has multiple transactions. The different currencies bring here the need of IAS 21 Foreign Currency Exchanges. Which of the following is correct according to IAS 21?