Search found 3229 matches
- 29 Mar 2024, 14:20
- Forum: IFRS-related topics
- Topic: Related parties Note
- Replies: 1
- Views: 24
Re: Related parties Note
You should also include accruals since they are recognised in the financial statements.
- 28 Mar 2024, 17:28
- Forum: IFRS-related topics
- Topic: Net Assets at Acquisition
- Replies: 10
- Views: 87
Re: Net Assets at Acquisition
The consideration transferred includes assets transferred to the acquiree which remain within the combined entity (IFRS 3.38). This implies that the cash paid for shares is included in the net assets acquired so that the double entry is balanced. This cash payment equally affects both sides of the g...
- 28 Mar 2024, 17:11
- Forum: IFRS-related topics
- Topic: Common Control Business Combination?
- Replies: 4
- Views: 342
Re: Common Control Business Combination?
You should disclose the following as per IAS 1.25:
- the fact that the company is no longer going concern
- the basis on which it prepared the financial statements
- the reason why the entity is not regarded as a going concern
- the fact that the company is no longer going concern
- the basis on which it prepared the financial statements
- the reason why the entity is not regarded as a going concern
- 26 Mar 2024, 21:58
- Forum: IFRS-related topics
- Topic: Equity host with a liablity component
- Replies: 5
- Views: 92
Re: Equity host with a liablity component
Please don't
- 26 Mar 2024, 21:58
- Forum: IFRS-related topics
- Topic: IFRS 16 vs discontinuing operations
- Replies: 3
- Views: 40
Re: IFRS 16 vs discontinuing operations
The lease termination costs can be presented within discontinued operations. But I may have missed the essence of your question. If so, please elaborate further.
- 26 Mar 2024, 20:07
- Forum: IFRS-related topics
- Topic: IFRS 16 vs discontinuing operations
- Replies: 3
- Views: 40
Re: IFRS 16 vs discontinuing operations
After the subsidiary is wound up, what plans does the group have for the lease contract?
- 26 Mar 2024, 20:04
- Forum: IFRS-related topics
- Topic: Alignment of joint venture's accounting policies in equity accounting
- Replies: 6
- Views: 74
- 26 Mar 2024, 20:03
- Forum: IFRS-related topics
- Topic: Significant insurance risk - 1% Death Benefit IFRS 17
- Replies: 1
- Views: 37
Re: Significant insurance risk - 1% Death Benefit IFRS 17
Unfortunately, we don't have insurance experts in our Community.
- 26 Mar 2024, 19:55
- Forum: IFRS-related topics
- Topic: IAS 23- interest expense as per IFRS 9
- Replies: 3
- Views: 53
Re: IAS 23- interest expense as per IFRS 9
Hi, please start separate topics for each issue
- 25 Mar 2024, 18:47
- Forum: IFRS-related topics
- Topic: Alignment of joint venture's accounting policies in equity accounting
- Replies: 6
- Views: 74
Re: Alignment of joint venture's accounting policies in equity accounting
The second option would constitute a change in group's accounting policy with all the IAS 8 implications like retrospective restatement.
Also, IAS 40.31 states that switching from the fair value model to the cost model will rarely lead to a more relevant financial statement presentation.
Also, IAS 40.31 states that switching from the fair value model to the cost model will rarely lead to a more relevant financial statement presentation.
- 25 Mar 2024, 18:43
- Forum: IFRS-related topics
- Topic: IAS 7 - cashflow
- Replies: 5
- Views: 50
Re: IAS 7 - cashflow
You need to address two elements:
1. P/L charge – treat this as a non-cash expense, similar to depreciation.
2. Equity movement: ignore this as it had no effect on P/L and didn't involve any cash flow.
1. P/L charge – treat this as a non-cash expense, similar to depreciation.
2. Equity movement: ignore this as it had no effect on P/L and didn't involve any cash flow.
- 25 Mar 2024, 18:40
- Forum: IFRS-related topics
- Topic: Associate Held for Sale
- Replies: 1
- Views: 36
- 25 Mar 2024, 18:39
- Forum: IFRS-related topics
- Topic: IFRS16 lease -Finance cost grouping
- Replies: 5
- Views: 83
Re: IFRS16 lease -Finance cost grouping
In my view, classifying interest expense on lease liabilities as R&D (operating costs) in P/L statement isn't appropriate. These expenses are more about financing the asset, rather than its actual use. IFRS 16.49 is the correct IFRS reference.
- 25 Mar 2024, 18:33
- Forum: IFRS-related topics
- Topic: ECL for short term lending
- Replies: 10
- Views: 114
Re: ECL for short term lending
Interesting topic! I’d say that PD decreases as we near the repayment date, mainly because the likelihood of external risks such as economic downturns or geopolitical unrest lessens. But risks specific to the borrower remain unknown to the lender, so we shouldn’t assume these are nearly zero a day b...
- 25 Mar 2024, 18:21
- Forum: IFRS-related topics
- Topic: Accrued Interest - Loan Write Off
- Replies: 3
- Views: 52
Re: Accrued Interest - Loan Write Off
good point, the entity might have initially recognised too much interest revenue
- 25 Mar 2024, 18:18
- Forum: IFRS-related topics
- Topic: IAS 12 Equal Taxable and Deductible Temporary Difference
- Replies: 1
- Views: 39
Re: IAS 12 Equal Taxable and Deductible Temporary Difference
It's as simple as can be
- 25 Mar 2024, 18:17
- Forum: IFRS-related topics
- Topic: Reversal of liability
- Replies: 4
- Views: 59
Re: Reversal of liability
Why is this part of the consideration no longer deemed payable?
- 20 Mar 2024, 11:06
- Forum: IFRS-related topics
- Topic: ECL for short term lending
- Replies: 10
- Views: 114
Re: ECL for short term lending
Hi, I've split your post into a separate topic, feel free to provide more background information and context
- 15 Mar 2024, 14:57
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 136
Re: Companies acts consolidation exemption and IFRS 10 exemptions
Once again, what inconsistencies have you identified between IFRS and CA06?
- 15 Mar 2024, 11:17
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 136
Re: Companies acts consolidation exemption and IFRS 10 exemptions
I think you are simply looking in the wrong place. UK-based entities use IFRS or UK GAAP so I don't think you should expect CA 2006 to have overlapping requirements with these accounting standards.
- 14 Mar 2024, 15:33
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 136
Re: Companies acts consolidation exemption and IFRS 10 exemptions
I'd assume that local law aligns with IFRS. The investment entity exception under IFRS 10 is mandatory so there'd be issues if it conflicts with local regulations. In such cases, entities would follow local law and be effectively using a local version of IFRS, such as IFRS 'as adopted by [a country]...
- 13 Mar 2024, 18:47
- Forum: IFRS-related topics
- Topic: Accounting for Investment in subs
- Replies: 2
- Views: 41
Re: Accounting for Investment in subs
It's great to see our forums are aiding your internal discussions, Leo
- 13 Mar 2024, 18:46
- Forum: IFRS-related topics
- Topic: IFRS 16 - Lease expenses
- Replies: 2
- Views: 51
Re: IFRS 16 - Lease expenses
This is a lease expense, but a variable one, which isn't included in the lease liability: https://ifrscommunity.com/knowledge-base/ifrs-16-recognition-and-measurement-of-leases/#variable-lease-payments This holds true unless the lessor is responsible for maintaining the printers, in which case these...
- 13 Mar 2024, 18:41
- Forum: IFRS-related topics
- Topic: IAS 38 - Intangible Assets
- Replies: 3
- Views: 40
Re: IAS 38 - Intangible Assets
It appears to be a lease, and you have the option to apply either IAS 38 or IFRS 16, as outlined in IFRS 16.4 (most entities opt for IAS 38). For a licence spanning five years, you should recognise a liability and related intangible asset covering the entire period, taking into account that these fu...
- 13 Mar 2024, 18:33
- Forum: IFRS-related topics
- Topic: Retail CGU's
- Replies: 4
- Views: 75
Re: Retail CGU's
Yes, geographical. Take, for instance, a Tesco store in London: its revenue is independent from the cash inflows of another store, say, in Manchester.
Could you please share the most relevant disclosures you've come across?
Could you please share the most relevant disclosures you've come across?
- 13 Mar 2024, 18:29
- Forum: General accounting and financial reporting discussion
- Topic: Companies acts consolidation exemption and IFRS 10 exemptions
- Replies: 15
- Views: 136
Re: Companies acts consolidation exemption and IFRS 10 exemptions
I've moved this topic to 'General accounting and financial reporting discussion'. Please don't post local law questions under 'IFRS-related topics', thanks!
- 13 Mar 2024, 18:28
- Forum: IFRS-related topics
- Topic: IFRS 16 & IFRS 15 for Interconnected purchase & SALT
- Replies: 3
- Views: 43
Re: IFRS 16 & IFRS 15 for Interconnected purchase & SALT
I'm not sure what kind of adjustment you have in mind, can you clarify a bit more?
- 12 Mar 2024, 18:11
- Forum: IFRS-related topics
- Topic: Retail CGU's
- Replies: 4
- Views: 75
Re: Retail CGU's
Retail stores typically have different customer bases, so in principle they should be treated as separate CGUs due to independent cash *inflows*. However, companies often consolidate CGUs, as tracking hundreds of small ones is practically challenging. You could look at the financial statements of pu...
- 12 Mar 2024, 18:04
- Forum: IFRS-related topics
- Topic: IFRS 16 & IFRS 15 for Interconnected purchase & SALT
- Replies: 3
- Views: 43
Re: IFRS 16 & IFRS 15 for Interconnected purchase & SALT
A similar scenario is discussed in IFRS 16.B46-47. To me, it seems possible to avoid sale and leaseback accounting if the initial contract with lessor 'A' is made just before exercising the purchase option and entering into the SALT with lessor B.
- 12 Mar 2024, 17:56
- Forum: IFRS-related topics
- Topic: How to distinguish an entity preparing accounts under IFRS 10 para 27-33 or IAS 27 fair value option
- Replies: 5
- Views: 55