Results 1 to 3 of 3

Thread: Trust Financials

  1. #1
    Junior Member
    Join Date
    Nov 2013
    Location
    Ballito
    Posts
    12
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Question Trust Financials

    Good Evening

    On what basis should trust financials be compiled? Information I have found suggests that there is no governance regarding what the financials should be based on. In which case, should property in a trust be revalued?

    Thank you.

  2. #2
    Gold Member
    Join Date
    Mar 2012
    Location
    Vanderbijlpark
    Posts
    886
    Thanks
    83
    Thanked 381 Times in 298 Posts
    Hi Angelee.
    The statements should embrace the major principles and standards of IFRS. That implies that all assets should be tested for impairment, and investment property revalued periodically. Like with any entity, if the exercise is not cost effective, you should say so and strictly speaking, then apply the cost / fair value model.

  3. #3
    Junior Member
    Join Date
    Nov 2013
    Location
    Ballito
    Posts
    12
    Thanks
    0
    Thanked 0 Times in 0 Posts

    trust financials

    Quote Originally Posted by CLIVE-TRIANGLE View Post
    Hi Angelee.
    The statements should embrace the major principles and standards of IFRS. That implies that all assets should be tested for impairment, and investment property revalued periodically. Like with any entity, if the exercise is not cost effective, you should say so and strictly speaking, then apply the cost / fair value model.
    Thank you.

Similar Threads

  1. Who do you trust
    By ians in forum General Chat Forum
    Replies: 3
    Last Post: 22-Dec-12, 06:00 PM
  2. Business Plans: The Financials that should be included
    By Citizen X in forum General Business Forum
    Replies: 7
    Last Post: 01-Jan-12, 10:39 AM
  3. Trading trust or CC
    By duncan drennan in forum Entrepreneurship and Business Management Forum
    Replies: 11
    Last Post: 26-Apr-07, 08:29 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •