Fixed Assets - EBS (MOSC)

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Tax Books in Fixed Assets

edited Jul 4, 2019 3:23AM in Fixed Assets - EBS (MOSC) 5 commentsAnswered ✓

Hi

We have CORP Books linked with our GAAP Ledger.

We want to create TAX Books and link it with the secondary ledger, to be created for IFRS reporting purpose.

Is it possible to have different capitalizable value of the assets according to local GAAP and IFRS (for example, if some ancillary costs are capitalizable according to IFRS but have to be expensed according to local GAAP). That is also the case for the financial assets (deals) where some attorney invoices have to be capitalized according to local GAAP but have to be expensed according to IFRS.

BR

Radhika

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