This equation tells at a glance that the resources of this enterprise total Rs. 50,000 and these assets are financed by two sources — Rs. 10,000 by the creditors(liabilities), also identified as outsiders claims, and Rs.40,000 by the owner (capital), also known as owner equity.
Is not that a fascinating concept for a book? I must admit that I can hardly wait to study it myself and see what the other 99 have to say. I am often in need to have of suggestions. The question really breaks down to the ultimate life question: If we had it all to do over with once again, how would we do it differently? That’s a question we need to ponder now and then as we consider generating alterations in our present day life. You cannot adjust the previous but you do have some control more than the present. Thinking about the previous may support us boost the future.
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Retirement obligations connected with leases are reported in accordance with IAS 37. The asset side of the provision (equivalent to what US GAAP, in FAS 143, calls an asset retirement obligation) is added to the appropriate of use asset for the lease subsequent adjustments to the provision result in adjustments to the ROU asset, which cannot be reduced below zero (if additional adjustments are essential since the liability is reduced, a obtain is recorded).
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