International financial reporting standards

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Problem: Dawood Ltd. spent Rs. 200,000 sending its staff on training courses during the year. This has already led to an improvement in the company's efficiency and resulted in cost savings. The organizer of the course has stated that the benefits from the training should last for a minimum of four years. The assistant has therefore treated the cost of the training as an intangible asset and charged six months' amortization based on the average date during the year on which the training courses were completedRequired:

Question: Comment how above expenditures are accounted for in the books of Dawood Ltd. in accordance with International Financial Reporting Standards.

Reference no: EM132421011

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International financial reporting standards : Comment how above expenditures are accounted for in the books of Dawood Ltd. in accordance with International Financial Reporting Standards.
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