Accounting standards 9atap

M Part 4 M

Accounting standards 9atap

Accounting standards 9atap

Revenue recognition in Accounting standards 9atap of advance against depreciation received by a power generating company A. Facts of the Case 1. The said project has been commissioned in June and is supplying the entire power being generated from the project Accounting standards 9atap the Himachal Pradesh State Electricity Board under and in accordance with a power purchase agreement PPA executed between the company and the Board on 4th June,read with a supplementary agreement to the said PPA dated 28th February A copy of the relevant provisions of the PPA relating to the tariff has been separately provided by the querist.

Such advance against depreciation shall be adjusted against depreciation payable by the Board after the expiry of debt redemption period.

Accounting standards 9atap

The written down value method of depreciation allowed under the Companies Act, and the Income-tax Act, also gives higher depreciation in initial years and lower depreciation in later years. The company is raising the invoices for the power to the Board based on the tariff as determined under the provisions of the PPA.

As per the querist, there are two views expressed in the matter. According to the querist, this view is apparently further supported by the following: In fact, the rates necessarily remain variable throughout the PPA period from year to year as shown in the table above.

The querist has sought the opinion of the Expert Advisory Committee on the following issues: Points considered by the Committee 8. The Committee notes that paragraph 8.

No further payments on account of depreciation shall be made by the Board to the company after the debt redemption period until the entire amount of advance against depreciation is fully adjusted against the amount that would have otherwise been payable by the Board on this account, i.

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After the full adjustment of the advance against depreciation, further payments on account of depreciation shall be made at an annual rate of 4.

The Committee is of the view that the advance against depreciation is allowed with the objective of enabling the electricity company to recover depreciation higher than that as would be allowed as per the rates of depreciation notified by the Central Government from time to time for the purpose of fixation of electricity tariff so that the company may be able to generate internal resources for the payment of loans.

The Committee further notes from the facts of the query that this advance against depreciation will be adjusted in later years. The Committee is, accordingly, of the view that in the present case, that part of the tariff, which arises because of inclusion of advance against depreciation, should be treated as revenue received in advance since the said advance will be adjusted in later years against the depreciation.

Since the tariff is based on depreciation, it amounts to excess tariff being received in the initial years which gets adjusted in the later years through the depreciation route.

The Committee is of the view that the issue should be examined on going concern basis. In many other cases also, advances received are utilised by the recipients on receipt, but that in itself does not mean that the revenue has also been earned and, therefore, should be recognised.

For example, an advance may have been received for sale of goods in future. This advance may be utilised by the enterprise.

Contabilidade de Cobertura, IAS 39 vs IFRS9 Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. La Crosse, WI; Louise; Louise in La Crosse, WI. About Search Results. 9. Tap Consulting. State St La Crosse, WI () Accountants-Certified Public Bookkeeping. Gillette & Associates have been serving the La Crosse, WI and surrounding areas for more than 20 years. We specialize in small business bookkeeping, payroll. These costs include integration costs, acquisition costs, costs related to the recognition of the backlog intangible asset amortization recorded in purchase accounting.

This does not mean that revenue on sale of goods should also be recognised at the stage when advance is utilised even though the sale is not complete.

Accordingly, the view of the Committee contained in paragraph 10 above is in accordance with the generally accepted concept of matching since the revenue is appropriately matched with the cost, i. The Committee is of the view that since the company has been incorporated under the Companies Act,the company should charge depreciation as per the provisions of the Act.

On the basis of the above, the Committee is of the following opinion on the issues raised by the querist in paragraph 7 above: Opinion finalised by the Committee on The main source of information on current standards and guidelines for accounting and auditing is the Checkpoint database cited below..

The "Additional Sources" listed separately for Accounting and Auditing are useful for specialized information and for historical research since the Checkpoint database does not always include superseded standards and guidelines.

(9) TAP-bound peptides bind to MHCs catalyzed by chaperones, such as Tapasin, calnexin and ERp A kinetic model of vertebrate 20S proteasome accounting for the generation of major proteolytic fragments from oligomeric peptide substrates.

Biophys. J. ; The Accounting Standards Codification (ASC) is a collection of all authoritative guidance related to generally accepted accounting principles (GAAP) in the Unites States. However, initial general directions regarding appropriate enzyme(s) to use, as well as phylogenetic insights, can be gained by examining an in silico digestion of the 16S rRNA database (4, 9).

TAP gives its users the ability to simulate the T-RFLP procedure with the entire RDP as the surrogate community.

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NATIONAL COMMUNICATIONS AUTHORITY PUBLIC CONSULTATION ON THE CLEARINGHOUSE LICENCE. An Entity shall be eligible for only the Clearing House Licence in Ghana; no Entity alone or along with its partner, affiliate, subsidiary or shareholder with a stake in any other licence in Ghana, can apply for this licence.

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International Accounting Standards