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Nairaland Forum / Nairaland / General / Career / ICAN May 2017 Results (let's Meet Here) (138586 Views)
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Re: ICAN May 2017 Results (let's Meet Here) by AbbyE: 10:28pm On Jul 12, 2017 |
optimusmind: Err let me try Depreciation simply put is a cost recovery model (tangible assets) Impairment is the reduction in the recovery amount of an asset as against its book value Amortisation is also a cost recovery model i.e allocating the cost of an asset over its useful life (intangible asset ) Changes in the value of AFS are initially recognised through equity then on derecognition , the profit is recognised through Profit and Loss 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by sopulurespect: 10:30pm On Jul 12, 2017 |
optimusmind: When there is revaluation gain on AFS asset, OCI is Cr while AFS asset is DR and when the asset is disposed, OCI is DR while P/L is CR with the gain previously recognized, the AFS asset is CR while Cash is DR 2 Likes |
Re: ICAN May 2017 Results (let's Meet Here) by miscoe(m): 11:24pm On Jul 12, 2017 |
optimusmind: sopulurespect: AbbyE: lols....make them come down kudos to the scholarly presentations above! Simply, accumulating "gains" on AFS until they are subsequently disposed of by a CR to the PorL;and de-recognizing such AFS by CR to the AFS account... 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by mandonnels(m): 6:10am On Jul 13, 2017 |
by his Grace, we will all smile today. 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 6:14am On Jul 13, 2017 |
sopulurespect: Correct. 12/15 |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 6:15am On Jul 13, 2017 |
miscoe: There are two Methods. Either through OCI Or Through P/L. |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 6:38am On Jul 13, 2017 |
ofirima:I'm really hopeful about today |
Re: ICAN May 2017 Results (let's Meet Here) by centK(m): 6:50am On Jul 13, 2017 |
There is only one way we know if result is coming out today, that is if only council members sit today. So lets pray they sit or the wait continues 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by centK(m): 6:52am On Jul 13, 2017 |
Someone pls help us confirm if council members are meeting today? Goodmorning ican world 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 6:54am On Jul 13, 2017 |
centK: Good morning, Gbolahanrasaq.. Kindly help confirm 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by kaboninc(m): 7:00am On Jul 13, 2017 |
Deprecation is the actual reduction of the value of an asset over time. While a way of measuring depreciation is by allocating cost of the asset over a period of time. Simple. Na only depreciation I sabi for now. Lol 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by centK(m): 7:01am On Jul 13, 2017 |
It is well oh. Even ordinary waec updates candidates on date of releasing result. '' WAEC Reveals Date For Release Of 2017 May/June Results''. Lets be hopeful amyways. This weeks completes the 6-8weeks on their site |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 7:10am On Jul 13, 2017 |
kaboninc: According to IAS16, depreciation is no longer reduction in value, but an allocation of cost. This is why, After depreciating a building, for instance, for a period of 10 years, if that asset is valued it could even have a value higher than the original cost. So what would you make of that? Therefore, impairment is the reduction in the value of an asset. And you measure impairment by carrying out an impairment test 4 Likes |
Re: ICAN May 2017 Results (let's Meet Here) by gbolahanrasaq: 7:38am On Jul 13, 2017 |
Personally, I'm not expecting any result to be released today. If eventually it's released fine |
Re: ICAN May 2017 Results (let's Meet Here) by gbolahanrasaq: 7:40am On Jul 13, 2017 |
So far, there has not been any reliable information regarding the release of results |
Re: ICAN May 2017 Results (let's Meet Here) by gbolahanrasaq: 7:42am On Jul 13, 2017 |
Before you know it, another stories will start 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by OlalekanEdun(m): 7:49am On Jul 13, 2017 |
gbolahanrasaq: The result is not going to be extended than this week, so it should be out either today or tomorrow.. |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 7:51am On Jul 13, 2017 |
OlalekanEdun: What if something comes up, and it gets delayed till next week Thursday? |
Re: ICAN May 2017 Results (let's Meet Here) by gbolahanrasaq: 7:54am On Jul 13, 2017 |
OlalekanEdun: If it's ICAN anything can still happen. You would recall this was how the delay in Nov 2016 diet result began. |
Re: ICAN May 2017 Results (let's Meet Here) by highb1(m): 7:58am On Jul 13, 2017 |
Good morning my fellow nairalandite.. As we are anxiously waiting for our results today! I wish everybody best of luck! We shal all av reasons to smile nd thank God. #Amin# 2 Likes |
Re: ICAN May 2017 Results (let's Meet Here) by kaboninc(m): 8:00am On Jul 13, 2017 |
optimusmind: For the sake of semantics, when something depreciates, it means it loses value. How do you measure the loss in value over time, you allocate a cost of that asset over a period for which it is expected to be in use or it's life span. Now there's a difference between depreciation and impairment as per your example. If I build a house, it is expected that the house deteriorates over time. So in my balance sheet, I have to reflect this deterioration by gradually reducing the asset each year until the life span of this building. However, impairment is different as it test to see that the value of the asset as started in the balance sheet is worth the value as stated. In testing for impairment, we differentiate between the net asset carry value (cost of acquisition - accumulated depreciation) and the future undiscounted cash flows. Now impairment will only be carried out when there are certain changes in the business environment or internal. If there is a charge, it is write off. This is like wanting to be sure that your asset is even worth it. But depreciation must be carried out over the life span of the asset whether we like it or not. As for the building, I'll carry out an impairment test to see that the value of the building as stated in my balance sheet reflects the current reality. My 2 cents. 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by OlalekanEdun(m): 8:00am On Jul 13, 2017 |
highb1: Amen |
Re: ICAN May 2017 Results (let's Meet Here) by kaboninc(m): 8:13am On Jul 13, 2017 |
Me I want to work in a consulting, advisory firm, an investment bank, or private equity firm. I will love to even intern....this is my passion. So guys, remember me in your board meetings ohh |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 8:17am On Jul 13, 2017 |
kaboninc: I get all you said. However, depreciation is not a loss in value, but simply and allocation of cost. Read IAS16 on definition of depreciation. Before now, what you said is correct but with the adoption of IAS16, it is now completely different. Depreciation is no longer a loss in value but an accounting measure used to allocate the depreciable amount. an asset over the period of its useful life Measurement after initial recognition is either Cost model Or Revaluation model. Under cost model, the carrying amount is cost less deprecation less impairment. For revaluation model, The asset is carried at a revalued amount, being its fair value at the date of revaluation less subsequent depreciation and impairment, provided that fair value can be measured reliably. When the asset is revalued, any actual loss in value would be recognized. N. B. On revaluation, you get revaluation loss or gain. Where as on carrying out impairment test the results is just impairment loss. In summary, depreciation is no longer loss in value of assets, but an allocation of the depreciable amount, over the useful life of an asset, irrespective of whether the asset losses value or gains value. 2 Likes |
Re: ICAN May 2017 Results (let's Meet Here) by Inexhaustible(m): 8:40am On Jul 13, 2017 |
Ghenghen... The day has come, wish everyone best of luck 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by Nobody: 8:42am On Jul 13, 2017 |
Inexhaustible:It's next week, it's not today again |
Re: ICAN May 2017 Results (let's Meet Here) by BabatundeBMS: 8:49am On Jul 13, 2017 |
optimusmind: If I hear nextweek again from anybody, hmm...I reserved my comment |
Re: ICAN May 2017 Results (let's Meet Here) by Inexhaustible(m): 8:52am On Jul 13, 2017 |
Na una sabi, if ICAN like make dem keep am till August... Kin sa ti pass... optimusmind: 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by shrimati(m): 8:53am On Jul 13, 2017 |
Seems everyone is not capitalizing on ICAN not announcing the probable date that exams will be released to fix their own dates and we now feed on speculations. |
Re: ICAN May 2017 Results (let's Meet Here) by gbolahanrasaq: 9:00am On Jul 13, 2017 |
ICAN itself gave room for the speculations. There is no communication whatsoever from them 1 Like |
Re: ICAN May 2017 Results (let's Meet Here) by BabatundeBMS: 9:02am On Jul 13, 2017 |
gbolahanrasaq: Gbolahan, Pls dont mind optimusmind:, Can u pls, help monitor progress today since u re close to ICAN office |
Re: ICAN May 2017 Results (let's Meet Here) by Ugosample(m): 9:03am On Jul 13, 2017 |
optimusmind:Are you serious? |
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