UITF Abstracts abstracted
26. Barter transactions for Advertising (typically, on each other's web sites)
The UITF took the deliberately restrictive view that such a transaction should be recorded in the accounts of the seller only if there is (strongly) persuasive evidence that it could have been sold for cash.
27. Revisions to estimates of the useful economic life of Goodwill and Intangible Assets
Even where the original presumption was such that no amortisation was required and the new estimate is a life of less than 20 years, this should not be treated as a change of accounting policy.
28. Operating lease incentives
Should be spread over the life of the lease on a systematic (usually straight line) basis.
29. Website development costs
May be capitalised, subject to passing strict tests taken from our old friend SSAP 13.
30. Date of award to employees of shares or rights to shares
If an employing company is not legally authorised to issue any promised shares or options, it must still account for the cost from the date of the award, and treat it as a liability (as opposed to a reserve) until such authorisation is obtained.
 top
|
 previousnext
|
