There has been no clear guidance available in IFRS (accounting standards) in relation to the accounting for Capital Spares and Stand-by equipment. I have tried to summarize the interpretations used by various accounting firms and committees. Hope you find it useful.
Singapore – one of the finest destinations of my travel diary. An island country in the South East Asia with multicultural population. Its truly one of the most memorable destination I had visited so far. I have been there twice and if got chance will visit again. It is almost the most perfect country of... Continue Reading →