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Error of Converting Trade Mark at Closing Rate instead of Valuing at Historical Cost using the Rate at the Date of Transaction: A Case Study on Selected Sri Lankan Company

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dc.contributor.author Silva, N.K.L.
dc.date.accessioned 2015-12-03T03:29:45Z
dc.date.available 2015-12-03T03:29:45Z
dc.date.issued 2015
dc.identifier.citation Silva, N.K.L. 2015. Error of Converting Trade Mark at Closing Rate instead of Valuing at Historical Cost using the Rate at the Date of Transaction: A Case Study on Selected Sri Lankan Company. 6th International Conference on Business & Information ICBI – 2015, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka. en_US
dc.identifier.issn 2465-6399
dc.identifier.uri http://repository.kln.ac.lk/handle/123456789/10533
dc.description.abstract Accounting and reporting concerns often impact many decisions made in the evaluation of a deal, including decisions about how to communicate the transaction to a company’s stakeholders. Therefore, accounting and reporting task should be done in effective & standard way by every company. For that every company and organization should prepare the financial statements according to generally accept accounting standards. The purpose of this case study report is to analyze an accounting issue of converting trade mark at closing rate instead of valuing at historical cost using the rate at the date of transaction which violates Sri Lanka Accounting Standards. In such situation, the trade mark has to be identified at historical cost at the date of transaction as it is an intangible, non-monetary asset according to LKAS 38: Intangible Assets and LKAS 21: The Effects of Changes in Foreign Exchange Rates and how it can be done is also explained in this case study report. en_US
dc.language.iso en en_US
dc.publisher Faculty of Commerce and Management Studies, University of Kelaniya en_US
dc.subject Sri Lanka Accounting Standards en_US
dc.subject Trade Mark en_US
dc.subject Historical Cost en_US
dc.subject Closing Rate en_US
dc.title Error of Converting Trade Mark at Closing Rate instead of Valuing at Historical Cost using the Rate at the Date of Transaction: A Case Study on Selected Sri Lankan Company en_US
dc.type Article en_US


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