in IAS 16 - Property, Plant and Equipment by
We have purchased a computer system and we received a printer free as a gift based on promotional campaign of the computer vendor. Should be take the cost of this printer into our books? How do I account for this as per IFRS?

Thanks in advance

Please log in or register to answer this question.

1 Answer

0 like 0 dislike
by
I think you need to assume that the amount you paid is for both items and allocate some amount to the assets you received as a free gift because  IFRIC 13 — Customer Loyalty Programs requires the companies which give away such promotional items to defer a part of the revenue generated from such transactions.

Welcome to AccountantAnswer Forum, where you can ask questions and receive answers on Accounting-related questions.

Get AccountantAnswer App

Categories



...